MN HF3265

Adds "biomedical agricultural entity" as a new exemption category under Minnesota Statutes section 500.24, defined as an entity that raises or sells livestock exclusively for biomedical or scientific use and does not sell livestock for human consumption.

Updates subdivision 3 to include the new biomedical agricultural entity definition alongside existing exemptions from the prohibition on corporations and other entities owning or leasing farmland.

Allows biomedical agricultural entities to own or lease agricultural land, provided they have a conservation plan and meet reporting requirements like other exempt agricultural entities.

Applies the exemption to corporations, limited liability companies, pension or investment funds, trusts, and limited partnerships that qualify as biomedical agricultural entities.