SF 2401: Regulating the marketing of grain, by providing for fees paid by grain dealers and warehouse operators into the grain depositors and sellers indemnity fund, and the payment of claims to reimburse sellers and depositors for losses covered by the fund, and including effective date provisions

What it does

BACKGROUND —— GRAIN DEPOSITORS AND SELLERS INDEMNITY FUND. This bill amends provisions regulating marketers of grain, referred to as grain dealers purchasing grain (Code chapter 203), and grain warehouse operators storing grain under bailment (Code chapter 203C). The department of agriculture and land stewardship (DALS) issues a license to each type of marketer (licensee) doing business in this state, including inspections and audits.6). Payments are made from the grain depositors and sellers indemnity fund (indemnity fund) upon a determination that the claim is eligible for payment by the Iowa grain indemnity fund board (indemnity board) acting in cooperation with DALS.

House subcommittee · named April 16, 2024

• Rep. Dave Deyoe (R)
• Rep. Monica Kurth (D) · monica.kurth@legis.iowa.gov
• Rep. Derek Wulf (R) · derek.wulf@legis.iowa.gov

Lobbying · 4 for, 2 against

For: Iowa Department of Agriculture & Land Stewardship; Iowa Farm Bureau Federation; Iowa Farmers Union; Iowa Soybean Association

Against: Agribusiness Association of Iowa; Iowa Institute for Cooperatives

In plain words

1. February 29, 2024Filed in the Senate
2. February 29, 2024Approved by the Senate committee
3. April 2, 2024Passed the Senate, 49–0
4. April 15, 2024Arrived in the House
5. April 16, 2024House subcommittee named: Deyoe, Kurth and Wulf
6. April 17, 2024Subcommittee recommended passing it
7. April 18, 2024Approved by the House committee