; and (ii) qualifies as tax exempt under section 501 of the Internal Revenue Code of 1986. (H) Agricultural land that is acquired or owned by a legal entity in a fiduciary capacity. (I) Agricultural land that is acquired or owned by a legal entity formed by owners of heirs' property (as defined in section 761.2(b) of title 7, Code of Federal Regulations (or a successor regulation)). (J) Agricultural land that is acquired or owned by an authorized farmer or rancher cooperative. (K) Agricultural land owned by a legal entity on the date of enactment of this Act, subject to the condition that the legal entity owning the land on that date of enactment continues to own the agricultural land. (2) Research or experimental purposes For purposes of paragraph (1)(B), agricultural land is acquired for research or experimental purposes if the agricultural land is used in accordance with any of the following: (A) Research and experimental activities (i) In general Research and experimental activities are carried out on the agricultural land and commercial sales of products produced from farming the agricultural land do not occur or are incidental to those research or experimental activities. (ii) Incidental sales For purposes of clause (i), commercial sales are sales that are incidental to the research or experimental purposes of the legal entity when the sales are less than 25 percent of the gross sales of the primary product of the research and experimental activities carried out on the agricultural land. (B) Public seed varieties (i) In general The agricultural land is used for the primary purpose of testing, developing, or producing public seed varieties or plants for sale or resale to farmers as seed stock and commercial sales of other products produced from farming the agricultural land do not occur or are incidental. (ii) Incidental sales For purposes of clause (i), commercial sales described in that clause are incidental if the sales are less than 25 percent of the gross sales of the primary product of the testing,