Illinois Administrative Code
Title 8 - AGRICULTURE AND ANIMALS
Part 800 - AGRICULTURAL FOREIGN INVESTMENT DISCLOSURE ACT
Section 800.10 - Definitions

Universal Citation: 8 IL Admin Code ยง 800.10

Current through Register Vol. 48, No. 38, September 20, 2024

In determining the meaning of words used in these rules, unless the context indicates otherwise, words importing the singular include and apply to several persons or things, words importing the plural include the singular, and words used in the present tense include the future as well as the present. No incorporation by reference in this Part includes any later amendments or editions beyond the date specified. The following terms shall have the following meanings:

a) "Act" means the Agricultural Foreign Investment Disclosure Act (Ill. Rev. Stat. 1983, ch. 5, par. 601 et seq.).

b) "Agricultural land" means any land located in this State which is currently used for, or if idle and its last use within the past five years was for, agricultural, forestry or timber production, except agricultural land used primarily to meet pollution control laws or regulations or land not exceeding ten acres in the aggregate from which the agricultural, forestry or timber products are less than $1,000 in annual gross sales and such products are produced for the personal or household use of the person or persons holding an interest in such land. Agricultural, forestry and timber production includes those activities identified in 7 CFR 781.2(b) (1984; amended at 49 FR 35072, effective October 9, 1984).

c) For the purpose of Section 3 of the Act, "any interest" means all interests acquired, transferred or held in agricultural lands by a foreign person, except:

1) leaseholds that are exempted from reporting as identified in Section 3 of the Act;

2) contingent future interests;

3) noncontingent future interests which do not become possessory upon termination of the present possessory estate;

4) surface or subsurface easements and rights of way used for a purpose unrelated to agricultural production. An interest solely in mineral rights is not considered an interest in agricultural land and, therefore, is not required to be reported; and

5) security interests.

d) "Security Interest" means a mortgage or other debt securing instrument.

e) "Significant interest or substantial control" shall be interpreted to mean interest or control, as set forth in 7 CFR 781.2(k) (49 FR 35072, effective October 9, 1984), in a legal entity for the purpose of obligating such legal entity to report.

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