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DIGEST OF HB1378 (Updated February 2, 2006 8:19 pm - DI 84)
Corn checkoffs. Makes changes to the corn marketing law, including: (1) changing definitions; (2) changing the duration of time the corn marketing council has to take action; (3) allowing the council to use funds in the corn marketing account regardless of the balance of the account (currently, funds may be spent only if there is a balance in excess of $500,000); and (4) changing the per bushel assessment from one-half of one cent to one-half of one percent of the net market price. Makes conforming changes. Provides that producers must apply for refunds within 180 days instead of 60 days. Provides that 30% of the money collected by the Indiana corn market council for three years must be distributed to the economic development corporation to be used for ethanol development.
