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On June 10, 2020, Governor Reynolds signed SF 2413 into law. The law went into effect immediately. Among other things,[i] the bill added new Iowa Code § 716.7A to prohibit “food operation trespass”:
On Friday, June 19, IRS issued Notice 2020-50, expanding the definition of “qualified individuals” eligible for coronavirus-related distributions from eligible retirement accounts.
On June 19, 2020, the Iowa Supreme Court ruled that the Iowa Department of Revenue rationally interpreted Iowa Code § 422.7(21)(a) to prevent a typical cash rental landlord from taking the Iowa capital gain deduction.
On June 12, 2020, the Iowa Supreme Court issued an opinion concerning the right of first refusal to purchase farmland. The plaintiffs did not seek specific performance, but instead sought monetary damages for an alleged breach of contract.
On June 16, the Small Business Administration and the Treasury issued guidance on forgiveness, as it applies to the self-employed, in light of the Paycheck Protection Flexibility Act enacted June 5.
On June 16, 2020, the Center for Agricultural Law & Taxation hosted a crop marketing seminar presented by Dr. Steve Johnson, Extension Farm Management Specialist.
In this one-hour event, farm management specialist Steve Johnson and the Center's Kristine Tidgren provided an update to farmland owners on key farm program and legal developments.
On June 8, 2020, IRS and Treasury issued proposed regulations (REG-109755-19) that will (once they become final) open the door for those involved with health care sharing ministries and direct primary care arrangements to realize tax savings for t
Update: On June 19, the Ninth Circuit denied the plaintiff's emergency motion to enforce the vacature and hold EPA in contempt.
UPDATE: On September 28, 2020, a federal judge in the District of Minnesota granted the Packing Defendants motion to dismiss on all accounts.
Update: Late on June 8, the U.S. EPA issued a final cancellation order for the registrations of the three herbicides impacted by the Ninth Circuit's ruling.
On May 29, 2020, Katie Kramer and Justin Muir, agricultural program specialists from the Iowa USDA-FSA office, and ISU agricultural economist Chad Hart joined us for a webinar on the Coronavirus Food Assistance Program.
Please join us for a free webinar on Friday, May 29, to review the CFAP application process.
Update: USDA has released more guidance, including an example of AD-3114, the CFAP application, in Notice CFAP-4.
On May 13, 2020, the Iowa Court of Appeals issued an opinion concerning the award of attorney fees in a farm lease dispute.
Update: Late on May 13, Treasury extended the deadline for repaying a PPP loan without review from May 14 to May 18.
Update: On May 13, 2020, SBA and Treasury issued additional guidance providing a safe harbor and extending the deadline for returning a loan to May 18.
Note: On May 4, SBA began accepting applications for EIDL advances from agricultural businesses only.
It’s official. The President signed H.R. 266, the Paycheck Protection Program and Health Care Enhancement Act, into law today. This law provides another opportunity for some small businesses, including agricultural producers, to get in line for a potential loan to help them through the next few months.
Late on April 30, 2020, IRS issued Notice 2020-32, stating that no deduction is allowed for an expense that is otherwise deductible if the payment of the expense results in forgiveness of a covered loan under the Paycheck Protection Program (PPP).
