Nonprofit corporation exemption under the corporate farm law modified.
Introduction and first reading, referred to
Summary
The bill rewrites the definitions in Statute 500.24, adding detailed criteria for family farms, authorized farm entities, and nonprofit corporations, and allows nonprofit corporations that could lease land before Aug. 1, 2026 to keep doing so under the same rules. It also sets limits on shareholders, acreage, and revenue for farm corporations, partnerships and LLCs, and defines how gifted or repossessed land must be handled. The amendment takes effect on Aug. 1, 2026 and would affect nonprofit groups, family farms and other small farm‑related businesses.
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