Amendment S-5229 to SF 2402

Filed April 29, 2026 in the Senate by Sen. Cherielynn Westrich (R)

Amends this SF 2402 to CONFORM to HF 2678

What it changes

1. Page 36, after line 25 by inserting: “DIVISION ___ LANDHOLDINGS Sec. ___. Section 9I.7, unnumbered paragraph 1, Code 2026, is amended to read as follows: A nonresident alien, foreign business, or foreign government, or an agent, trustee, or fiduciary thereof, which owns an interest in agricultural land within this state on or after January 1, 1980, shall register the agricultural land with the secretary of state. The registration shall be made within sixty days after January 1, 1980, or within sixty days after acquiring the land or the interest in land, whichever is later. The registration shall be made online or in the form and manner prescribed by the secretary of state. Information described in this section is a confidential record and subject to use in the same manner as provided in section 10B.5. As part of the registration, the nonresident alien, foreign business, or foreign government, or an agent, trustee, or fiduciary thereof, shall file all of the following information: Sec. ___. Section 10B.1, Code 2026, is amended by adding the following new subsections: NEW SUBSECTION . 1A. a. “Business entity” means a person, formed under the statutes of this state or another jurisdiction for purposes of engaging in a commercial activity on a profit, cooperative, or not-for-profit basis, including but not limited to a corporation or entity taxed as a corporation under the Internal Revenue Code, nonprofit corporation, cooperative or cooperative association, partnership, limited partnership, limited liability company, limited liability partnership, investment company, joint stock company, joint stock association, or trust, including but not limited to a business trust. b. “Business entity” does not include a family farm corporation, family farm limited liability company, family trust, revocable trust, testamentary trust, or family farm unincorporated nonprofit association, each as defined in section 9H.1. NEW SUBSECTION . 10A. “Out-of-state business entity” means a business entity formed under the statutes of any of the following: a. A state of the United States, other than Iowa. b. A territory of the United States. NEW SUBSECTION . 10B. “Out-of-state individual” means an individual who is domiciled in any of the following: a. A state of the United States, other than Iowa. b. A territory of the United States. Sec. ___. Section 10B.1, subsection 11, Code 2026, is amended by adding the following new paragraphs: NEW PARAGRAPH . 0f. An out-of-state business entity holding an interest in agricultural land in this state, including a general partnership in which a partner is domiciled in another state, or territory, of the United States. NEW PARAGRAPH . 00f. An out-of-state individual holding an interest in agricultural land in this state. Sec. ___. Section 10B.3, Code 2026, is amended by adding the following new subsection: NEW SUBSECTION . 5A. A person not described in this section who is an authorized representative of an out-of-state business entity or an out-of-state individual. Sec. ___. Section 10B.4, subsection 2, Code 2026, is amended by adding the following new paragraph: NEW PARAGRAPH . 0b. If the reporting entity is a general partnership, the name of and address of each partner who resides in another state, or territory, of the United States. Sec. ___. Section 10B.5, subsection 2, Code 2026, is amended to read as follows:
2. a. Information Except as provided in reports paragraph “b” and section 10B.5A, a report required in to be filed under this chapter is a confidential record as provided in section 22.7 . The attorney general may have access to the reports, and may use information in the reports in any action to enforce state law, including but not limited to chapters 9H and 9I . The reports shall be made available to members of the general assembly and appropriate committees of the general assembly in order to determine the extent that agricultural land is held in this state by corporations and other business and foreign entities and the effect of such land ownership upon the economy of this state. The secretary of state shall assist any committee of the general assembly studying these issues. b. A report filed under this chapter is not a confidential record if the reporting entity is any of the following: (1) A foreign business, foreign government, or nonresident alien. (2) An out-of-state business entity or an out-of-state individual. Sec. ___. Section 10B.5A, Code 2026, is amended to read as follows: 10B.5A Annual summary to governor and general assembly.
3. The secretary of state shall prepare an annual summary of foreign and out-of-state agricultural landholding.
4. a. The summary must be include a report summarizing the compiled information for agricultural landholdings by foreign businesses, foreign governments, and nonresident aliens included in the current registrations filed pursuant to section 9I.7 and the last reports filed pursuant to section 10B.4 . b. The summary must include a report summarizing the compiled information for agricultural landholding by out-of-state business entities and out-of-state individuals included in the last reports filed pursuant to section 10B.4.
5. The information described in subsection 2, is not a confidential record as provided in section 22.7 . The attorney general may have access to the annual summary and may use information in the annual summary in any action to enforce state law, including but not limited to chapters 9H and 9I , and this chapter . The annual summary shall be made available to the governor, members of the general assembly, and appropriate committees of the general assembly in order to determine the extent that agricultural land is held in this state by foreign entities and the effect of such land ownership upon the economy of this state. Upon request, the secretary of state shall assist any committee of the general assembly studying these issues.”
6. Title page, by striking lines 1 through 5 and inserting “An Act providing for certain persons acting under the jurisdiction of the secretary of state, including by providing for information from required filings, and the administrative dissolution of certain entities, and making penalties applicable.”
7. By renumbering as necessary.

Official amendment (PDF) · In the Bill Book