Nebraska Administrative Code
Topic - BEGINNING FARMER BOARD
Title 91 - BEGINNING FARMER BOARD
Chapter 1 - BEGINNING FARMER TAX CREDIT ACT REGULATIONS
Section 91-1-006 - Rental Agreement
Universal Citation: 91 NE Admin Rules and Regs ch 1 ยง 006
Current through September 17, 2024
006.01 An owner of agricultural assets and/or beginning farmer must provide a copy of the rental agreement of at least three years signed and dated by the beginning farmer and the owner of agricultural assets which includes:
006.01A The names of the beginning farmer and
owner of agricultural assets;
006.01B Time frame of the rental
agreement;
006.01C The legal
description of the rented land and/or the identifying information on all other
rented assets;
006.01D The method
of rent payment and payment schedule;
006.01D(1) For cash rent, a statement of the
cash rents to be paid and payment schedule each year of the rental agreement;
or
006.01D(2) For share rent
agreements, utilize a method determined by the Board to establish a fair and
reasonable cash equivalent of the dollar amounts of the owner's predetermined
portion of the share rent agreement to be paid each year of the rental
agreement.
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