| 10 | | - | 1.10 (c) "Beginning farmer" means an individual, a limited liability company owned by an |
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| 11 | | - | 1.11individual, or a limited liability company owned by up to two individuals who are spouses |
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| 12 | | - | 1.12or family members who: |
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| 13 | | - | 1.13 (1) is a resident of Minnesota; |
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| 14 | | - | 1.14 (2) is seeking entry, or has entered within the last ten years, into farming; |
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| 15 | | - | 1.15 (3) intends to farm land located within the state borders of Minnesota; |
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| 16 | | - | 1.16 (4) except as provided in subdivision 2, paragraph (f), is not and whose spouse is not a |
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| 17 | | - | 1.17family member of the owner of the agricultural assets from whom the beginning farmer is |
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| 18 | | - | 1.18seeking to purchase or rent agricultural assets; |
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| 19 | | - | 1.19 (5) except as provided in subdivision 2, paragraph (f), is not and whose spouse is not a |
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| 20 | | - | 1.20family member of a partner, member, shareholder, or trustee of the owner of agricultural |
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| 10 | + | 1.10 (c) "Beginning farmer" means an individual or a limited liability company owned by an |
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| 11 | + | 1.11individual who: |
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| 12 | + | 1.12 (1) is a resident of Minnesota; |
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| 13 | + | 1.13 (2) is seeking entry, or has entered within the last ten years, into farming; |
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| 14 | + | 1.14 (3) intends to farm land located within the state borders of Minnesota; |
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| 15 | + | 1.15 (4) except as provided in subdivision 2, paragraph (f), is not and whose spouse is not a |
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| 16 | + | 1.16family member of the owner of the agricultural assets from whom the beginning farmer is |
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| 17 | + | 1.17seeking to purchase or rent agricultural assets; |
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| 18 | + | 1.18 (5) except as provided in subdivision 2, paragraph (f), is not and whose spouse is not a |
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| 19 | + | 1.19family member of a partner, member, shareholder, or trustee of the owner of agricultural |
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| 20 | + | 1.20assets from whom the beginning farmer is seeking to purchase or rent agricultural assets; |
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| 21 | + | 1.21and |
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| 28 | | - | Introduction and first reading40002/17/2025 |
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| 29 | | - | Referred to Agriculture, Veterans, Broadband, and Rural Development |
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| 30 | | - | Comm report: To pass as amended and re-refer to Taxes03/24/2025 2.1assets from whom the beginning farmer is seeking to purchase or rent agricultural assets; |
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| 31 | | - | 2.2and |
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| 32 | | - | 2.3 (6) meets the following eligibility requirements as determined by the authority: |
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| 33 | | - | 2.4 (i) has a net worth that does not exceed the limit provided under section 41B.03, |
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| 34 | | - | 2.5subdivision 3, paragraph (a), clause (2); |
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| 35 | | - | 2.6 (ii) provides the majority of the day-to-day physical labor and management of the farm; |
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| 36 | | - | 2.7 (iii) has, by the judgment of the authority, adequate farming experience or demonstrates |
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| 37 | | - | 2.8knowledge in the type of farming for which the beginning farmer seeks assistance from the |
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| 38 | | - | 2.9authority; |
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| 39 | | - | 2.10 (iv) demonstrates to the authority a profit potential by submitting projected earnings |
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| 40 | | - | 2.11statements; |
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| 41 | | - | 2.12 (v) asserts to the satisfaction of the authority that farming will be a significant source |
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| 42 | | - | 2.13of income for the beginning farmer; |
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| 43 | | - | 2.14 (vi) is enrolled in or has completed within ten years of their first year of farming a |
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| 44 | | - | 2.15financial management program approved by the authority or the commissioner of agriculture; |
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| 45 | | - | 2.16 (vii) agrees to notify the authority if the beginning farmer no longer meets the eligibility |
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| 46 | | - | 2.17requirements within the three-year certification period, in which case the beginning farmer |
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| 47 | | - | 2.18is no longer eligible for credits under this section; and |
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| 48 | | - | 2.19 (viii) has other qualifications as specified by the authority. |
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| 49 | | - | 2.20The authority may waive the requirement in item (vi) if the participant requests a waiver |
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| 50 | | - | 2.21and has a four-year degree in an agricultural program or related field, reasonable agricultural |
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| 51 | | - | 2.22job-related experience, or certification as an adult farm management instructor. |
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| 52 | | - | 2.23 (d) "Emerging farmer" means an emerging farmer within the meaning of section 17.055, |
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| 53 | | - | 2.24subdivision 1. |
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| 54 | | - | 2.25 (e) "Family member" means a family member within the meaning of the Internal Revenue |
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| 55 | | - | 2.26Code, section 267(c)(4). |
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| 56 | | - | 2.27 (f) "Farm product" means plants and animals useful to humans and includes, but is not |
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| 57 | | - | 2.28limited to, forage and sod crops, oilseeds, grain and feed crops, dairy and dairy products, |
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| 58 | | - | 2.29poultry and poultry products, livestock, fruits, and vegetables. |
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| 59 | | - | 2.30 (g) "Farming" means the active use, management, and operation of real and personal |
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| 60 | | - | 2.31property for the production of a farm product. |
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| 29 | + | Introduction and first reading02/17/2025 |
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| 30 | + | Referred to Agriculture, Veterans, Broadband and Rural Development 2.1 (6) meets the following eligibility requirements as determined by the authority: |
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| 31 | + | 2.2 (i) has a net worth that does not exceed the limit provided under section 41B.03, |
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| 32 | + | 2.3subdivision 3, paragraph (a), clause (2); |
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| 33 | + | 2.4 (ii) provides the majority of the day-to-day physical labor and management of the farm; |
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| 34 | + | 2.5 (iii) has, by the judgment of the authority, adequate farming experience or demonstrates |
|---|
| 35 | + | 2.6knowledge in the type of farming for which the beginning farmer seeks assistance from the |
|---|
| 36 | + | 2.7authority; |
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| 37 | + | 2.8 (iv) demonstrates to the authority a profit potential by submitting projected earnings |
|---|
| 38 | + | 2.9statements; |
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| 39 | + | 2.10 (v) asserts to the satisfaction of the authority that farming will be a significant source |
|---|
| 40 | + | 2.11of income for the beginning farmer; |
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| 41 | + | 2.12 (vi) is enrolled in or has completed within ten years of their first year of farming a |
|---|
| 42 | + | 2.13financial management program approved by the authority or the commissioner of agriculture; |
|---|
| 43 | + | 2.14 (vii) agrees to notify the authority if the beginning farmer no longer meets the eligibility |
|---|
| 44 | + | 2.15requirements within the three-year certification period, in which case the beginning farmer |
|---|
| 45 | + | 2.16is no longer eligible for credits under this section; and |
|---|
| 46 | + | 2.17 (viii) has other qualifications as specified by the authority. |
|---|
| 47 | + | 2.18The authority may waive the requirement in item (vi) if the participant requests a waiver |
|---|
| 48 | + | 2.19and has a four-year degree in an agricultural program or related field, reasonable agricultural |
|---|
| 49 | + | 2.20job-related experience, or certification as an adult farm management instructor. |
|---|
| 50 | + | 2.21 (d) "Emerging farmer" means an emerging farmer within the meaning of section 17.055, |
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| 51 | + | 2.22subdivision 1. |
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| 52 | + | 2.23 (e) "Family member" means a family member within the meaning of the Internal Revenue |
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| 53 | + | 2.24Code, section 267(c)(4). |
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| 54 | + | 2.25 (f) "Farm product" means plants and animals useful to humans and includes, but is not |
|---|
| 55 | + | 2.26limited to, forage and sod crops, oilseeds, grain and feed crops, dairy and dairy products, |
|---|
| 56 | + | 2.27poultry and poultry products, livestock, fruits, and vegetables. |
|---|
| 57 | + | 2.28 (g) "Farming" means the active use, management, and operation of real and personal |
|---|
| 58 | + | 2.29property for the production of a farm product. |
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| 59 | + | 2.30 (h) "Limited liability company" means a family farm limited liability company as defined |
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| 60 | + | 2.31in section 500.24, subdivision 2, paragraph (l), an authorized farm limited liability company |
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| 62 | | - | S1428-1 1st EngrossmentSF1428 REVISOR BD 3.1 (h) "Owner of agricultural assets" means an individual, trust, or pass-through entity that |
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| 63 | | - | 3.2is the owner in fee of agricultural land or has legal title to any other agricultural asset. Owner |
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| 64 | | - | 3.3of agricultural assets does not mean an equipment dealer, livestock dealer defined in section |
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| 65 | | - | 3.417A.03, subdivision 7, or comparable entity that is engaged in the business of selling |
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| 66 | | - | 3.5agricultural assets for profit and that is not engaged in farming as its primary business |
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| 67 | | - | 3.6activity. An owner of agricultural assets approved and certified by the authority under |
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| 68 | | - | 3.7subdivision 4 must notify the authority if the owner no longer meets the definition in this |
|---|
| 69 | | - | 3.8paragraph within the three year certification period and is then no longer eligible for credits |
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| 70 | | - | 3.9under this section. |
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| 71 | | - | 3.10 (i) "Resident" has the meaning given in section 290.01, subdivision 7. |
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| 72 | | - | 3.11 (j) "Share rent agreement" means a rental agreement in which the principal consideration |
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| 73 | | - | 3.12given to the owner of agricultural assets is a predetermined portion of the production of |
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| 74 | | - | 3.13farm products produced from the rented agricultural assets and which provides for sharing |
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| 75 | | - | 3.14production costs or risk of loss, or both. |
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| 62 | + | 25-02277 as introduced01/23/25 REVISOR BD/EE 3.1as defined in section 500.24, subdivision 2, paragraph (m), or other limited liability company |
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| 63 | + | 3.2authorized to engage in farming and own, acquire, or otherwise obtain an interest in |
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| 64 | + | 3.3agricultural land under section 500.24. |
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| 65 | + | 3.4 (h) (i) "Owner of agricultural assets" means an individual, trust, or pass-through entity |
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| 66 | + | 3.5that is the owner in fee of agricultural land or has legal title to any other agricultural asset. |
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| 67 | + | 3.6Owner of agricultural assets does not mean an equipment dealer, livestock dealer defined |
|---|
| 68 | + | 3.7in section 17A.03, subdivision 7, or comparable entity that is engaged in the business of |
|---|
| 69 | + | 3.8selling agricultural assets for profit and that is not engaged in farming as its primary business |
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| 70 | + | 3.9activity. An owner of agricultural assets approved and certified by the authority under |
|---|
| 71 | + | 3.10subdivision 4 must notify the authority if the owner no longer meets the definition in this |
|---|
| 72 | + | 3.11paragraph within the three year certification period and is then no longer eligible for credits |
|---|
| 73 | + | 3.12under this section. |
|---|
| 74 | + | 3.13 (i) (j) "Resident" has the meaning given in section 290.01, subdivision 7. |
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| 75 | + | 3.14 (j) (k) "Share rent agreement" means a rental agreement in which the principal |
|---|
| 76 | + | 3.15consideration given to the owner of agricultural assets is a predetermined portion of the |
|---|
| 77 | + | 3.16production of farm products produced from the rented agricultural assets and which provides |
|---|
| 78 | + | 3.17for sharing production costs or risk of loss, or both. |
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