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Ch. 126 LAWS of MINNESOTA for 1997 (7) with the first or second report, a copy of the conservation plan proposed by the soil and water conservation district, and with subsequent reports a statement of whether the conservation plan was implemented. . The report of a corporation seeking to qualify hereunder as a family farm corpora_ tion, an authorized farm corporation, ~ authorized livestock farm corporation, a family farm partnership, or authorized farm partnership shall contain the following additional information: the number of shares or the partnership interests owned by persons residing on the farm or actively engaged in farming, or their relatives within the third degree of kindred according to the rules of the civil law or their spouses; the name, address, and number of shares owned by each shareholder or partnership interests owned by each part- ner; and a statement as to percentage of gross receipts of the corporation derived from rent, royalties, dividends, interest, and annuities. No pension or investment fund, limited partnership, or corporation shall commence farming in this state until the commissioner ef agriCIIltlH'e has inspected the report and certified that its proposed operations comply with the provisions of this section. . (b). Every pension or investment fund, limited partnership, or corpOration as de- scribed in 6lause paragraph (a) shall, prior to April 15 of each year, file with the commis. sioner ef agriGIIltw:e a report containing the information required in 6lause paragraph (a), based on its operations in the preceding calendar year and its status at the end of the year. A pension or investment fund, limited partnership, or corporation that does not file the report by April 15 must pay a $500 civil penalty. The penalty is a lien on' the land being farmed under subdivision 3 until the penalty is paid. (c) The commissioner 9f the colBlBi5siea8r's 3uiliari.zed repr.e&8atati"8 may 8Bt&f iate a wRuea agr,eemeat with a peRiEIB ~ Ie file a EefI9Et UJNlef tIH5 !.:\lbdivisioR whe, for good cause shown, has fail.ed issue a written waiver or reduction of the civil pen- alty for failure to make a timely filing of the annual report required by this subdivision. AD agr.eemeat must be coastrued a5a~~ pleadiBg aad may sacompa&s a RduG- tiea 9f waiwf ef the 6iW peaakf feF late fiIiBg. The agAlemeBt waiver or reduction is final and conclusive with respect to the civil penalty, and may not be reopened or modi- fied by an officer, employee, or agent of the state, except upon a showing of fraud or mal- feasance or misrepresentation of a material fact. +he matt.efagreed upeaiB the agreemsat mayaetbe I'eGfJeBed Elf' medified byaa effiGef; employee, 9f ag.eatef the state.- The report required under paragraph (b) must be completed prior to a reduction or waiver under this paragraph. +he coDHBis&ioBer may eBtef iate aa agreemsat UJNlef tIH5 p3f3gf8ph ooly- eBG& feFea6hpeRiEIB ~ tefile uaOOFthis subdivi6ioB. The commissioner may enter into an agreement under this paragraph only once for each corporation or partnership. (d) Failure to file a required repOrt, or the willfu1 filing of false information, shall coB6atute !! a gross misdemeanor. . Sec. 6. RENUMBERING INSTRUCTION. The revisor of statutes shall renumber Minnesota Statutes. section 500.24, subdivi- sions 6;7, and 8 to be subdivisions 1, 2, and 3 of a new section 500.245 with the section heading "RIGHrOF FIRST REFUSAL FOR-AGRICULTURAL LAND" and correct all references to those subdivisions in Minnesota Statutes and Minnesota Rules. New language Is indicated by underline, deletions by ~ 852 ~ '" !I.. :; \ <' ....1.'. . , ,. .. "~ :~ ~; .~ .~. :;~'t- I.i. y;. ~;. ::11" ~;,! :f -1 :~