Cal. Code Regs. tit. 4 § 5600
In addition to the definitions set forth in Government Code section 8869.82 and unless otherwise required by the context, the following terms as used in this division are defined as follows:
"Agricultural Improvements" means any improvements, buildings, structures or fixtures suitable for use in farming that are located on Agricultural Land. "Agricultural Improvements" do not include personal residences.
"Agricultural Land" means land located in the State of California that is:
. suitable for use in farming and that is or will be operated as a farm, as such term is defined by IRC § 147(c)(2)(D); and
. that will be acquired by a Beginning Farmer.
"Beginning Farmer" means an individual as defined by IRC § 147(c)(2)(C).
"Beginning Farmer Bond Application" means the Application titled "Application for an Allocation of the State Ceiling on Qualified Private Activity Bonds for a Beginning Farmer Bond Program" (11-30-18), which is hereby incorporated by reference.
"Beginning Farmer Bonds" means conduit revenue bonds issued as authorized by the State of California that meet the requirements of Internal Revenue Code §§ 144(a) and 147(c)-(g).
"Borrower" means a Beginning Farmer who has received Beginning Farmer Bond financing under the Program.
"Depreciable Agricultural Property" means personal property suitable for use in farming for which an income tax deduction for depreciation is allowable in computing federal income tax under the IRC, including but not limited to farm machinery and breeder livestock, but not including feeder livestock, seed, feed, fertilizer and other types of inventory or supplies.
"Federal Maximum" means the maximum amount of a loan that federal law allows to be financed under the Program. This amount may be adjusted for inflation in future calendar years as provided for in IRC § 147(c)(2)(H).
"Financed Property" means property which is financed through the Beginning Farmer Program.
"Related Person" means a person or entity other than the Borrower as defined by IRC §§ 144(a)(3) and 147(a)(2).
"Substantial Farmland" means any parcel of land as defined by IRC § 147(c)(2)(E).
Cal. Code Regs. Tit. 4, § 5600
2. Certificate of Compliance as to 7-10-2014 order transmitted to OAL 11-26-2014 and filed 1-13-2015 (Register 2015, No. 3).
3. Amendment of definition of "Beginning Farmer Bond Application" filed 12-15-2016 as an emergency pursuant to Government Code section 8869.94; operative 12-15-2016 (Register 2016, No. 51). A Certificate of Compliance must be transmitted to OAL by 6-13-2017 or emergency language will be repealed by operation of law on the following day.
4. Amendment of definition of "Beginning Farmer Bond Application" refiled 5-30-2017 as an emergency pursuant to Government Code section 8869.94; operative 6-14-2017 (Register 2017, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-12-2017 or emergency language will be repealed by operation of law on the following day.
5. Reinstatement of section as it existed prior to 12-15-2016 emergency amendment by operation of Government Code section 11346.1(f) (Register 2017, No. 38).
6. Amendment of definition of "Beginning Farmer Bond Application" filed 10-13-2017; operative 10-13-2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 41).
7. Change without regulatory effect amending definition of "Beginning Farmer Bond Application" filed 1-16-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 3).
Note: Authority cited: Section 8869.94, Government Code. Reference: Sections 8869.84(c), 8869.85(a) and 8869.85(b), Government Code.
2. Certificate of Compliance as to 7-10-2014 order transmitted to OAL 11-26-2014 and filed 1/13/2015 (Register 2015, No. 3).
3. Amendment of definition of "Beginning Farmer Bond Application" filed 12-15-2016 as an emergency pursuant to Government Code section 8869.94; operative 12-15-2016 (Register 2016, No. 51). A Certificate of Compliance must be transmitted to OAL by 6-13-2017 or emergency language will be repealed by operation of law on the following day.
4. Amendment of definition of "Beginning Farmer Bond Application" refiled 5-30-2017 as an emergency pursuant to Government Code section 8869.94; operative 6-14-2017 (Register 2017, No. 22). A Certificate of Compliance must be transmitted to OAL by 9-12-2017 or emergency language will be repealed by operation of law on the following day.
5. Reinstatement of section as it existed prior to 12-15-2016 emergency amendment by operation of Government Code section 11346.1(f) (Register 2017, No. 38).
6. Amendment of definition of "Beginning Farmer Bond Application" filed 10-13-2017; operative 10/13/2017 pursuant to Government Code section 11343.4(b)(3) (Register 2017, No. 41).
7. Change without regulatory effect amending definition of "Beginning Farmer Bond Application" filed 1-16-2019 pursuant to section 100, title 1, California Code of Regulations (Register 2019, No. 3).