Vote Smart's Synopsis:

Vote to pass an amendment to LB 1174 that amends the bill's restrictions placed on the ownership of real estate used for farming or ranching to allow a qualified owner-operator controlled farm or ranch entity to acquire ownership or interest in such real estate.

Highlights:

- Defines a "qualified owner-operator controlled farm or ranch entity" as one in which all ownership is held by five or fewer individuals, of which at least one is actively engaged in day-to-day labor and management of farming or ranching operations [sec. 2 (5)].

Full Bill Text