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House Bill 1230


House Bill 1230

ARCHIVE (2010)

Latest Information

 

DIGEST OF HB1230 (Updated March 1, 2010 12:16 pm - DI 84)


Grain buyers and grain indemnity program; seeds. Makes certain changes in the grain buyers and warehouse licensing and bonding law, including the following: (1) Eliminates an exception under which a person who buys less than 50,000 bushels of grain annually or who buys grain for the sole purpose of feeding the person's own livestock or poultry and derives a major portion of the person's income from selling that livestock or poultry is not subject to the requirements of the law for grain buyers. (2) Authorizes the director of the grain buyers and warehouse licensing agency (agency) to require a grain buyer offering deferred pricing, delayed payments, or contracts linked to the commodity futures or commodity options market in connection with a grain purchase to document the agreement in writing not more than 21 days after delivery. (3) Requires the director of the grain buyers and warehouse licensing agency to be a member of national grain regulatory organizations. (4) Eliminates an exception under which a person is not required to be licensed if the person does not operate a facility used to store grain for hire, purchases less than 50,000 bushels of grain per year or uses all grain purchased for the production of the person's own livestock or poultry, and does not purchase grain by offering deferred pricing, delayed payment, or contracts that are linked to the commodity futures or commodity options market. (5) Provides that a depositor who does not present a claim at the hearing held by the director of the agency concerning a possible shortage may bring a claim to the agency within 15 days after the conclusion of the hearing. Makes certain changes in the grain indemnity program law, including the following: (1) Alters the definitions of the terms "claimant", "deferred pricing", "failure", "grain buyer", "warehouse", and "warehouse operator". (2) Provides that, in determining the amount of compensation to which a claimant who incurred a financial loss due to the failure of a grain buyer is entitled, the compensable part of the claimant's loss is to be reduced by all credits and offsets and any producer premium that should have been due on the sale of the grain. Requires the governing body of the Indiana grain indemnity corporation to hold a meeting in July and to certify at that meeting the amount of money in the Indiana grain indemnity fund on June 30. (Current law requires the governing body to hold a meeting in May and certify the amount of money in the fund on May 1.) Establishes seed labeling requirements for cool season lawn and turf grasses. Allows the seed commissioner to issue a special use permit for use of seeds of certain plant species for the purpose of research, development, production, or education. Allows the seed commissioner to adopt rules establishing certain fees and civil fines. Removes certain statutory fees on July 1, 2011. Reduces the number of sales reports that must be filed each year. Prohibits: (1) using relabeling stickers that do not contain certain information; and (2) relabeling a seed lot using stickers more than once. Requires that rules for certain fees be adopted before July 1, 2011. Repeals provisions: (1) defining a "valid claim"; (2) concerning a grain buyer's registration with the board of the grain indemnity corporation; (3) authorizing inspection of the books and records of a registered grain buyer to confirm compliance with the law; (4) excluding a producer from protection under the grain indemnity program under certain circumstances; and (5) providing that the claim of a claimant who incurred a storage loss due to the failure of a warehouse operator is valid only if brought within one year after publication of notice of the grain buyer's failure.
Current Status:
 Law Enacted
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