HB 1483

  • Indiana House Bill
  • 2021 Regular Session
  • Introduced in House
  • Passed House Feb 15, 2021
  • Passed Senate Apr 13, 2021
  • Governor

Grain indemnity fund.

Abstract

Adds and amends definitions under the Indiana grain buyers and warehouse licensing law (licensing law). Requires contracts to purchase grain from producers to contain a notice that deferred priced grain must be priced within the crop year. Modifies the duties of the director (director) of the Indiana grain buyers and warehouse licensing agency (agency). Specifies that the grain indemnity fund consists of fines collected by the director. Increases the maximum amount of a bond required for a license. Requires that if the director finds a deficiency in minimum net worth before the licensee's next audit by the agency, the director shall issue a notice of deficiency to the licensee stating that the licensee has 30 days to correct the deficiency and if the licensee fails to correct a deficiency in minimum net worth within the 30 day period, the director may issue a fine. Provides that if a licensee fails to correct a deficiency in minimum net worth within 60 days of receiving a fine the director may issue a temporary suspension. Provides that a licensee may not enter into a deferred pricing agreement after July 1, 2022, that extends beyond the crop year for the delivered grain. Provides that if a deferred pricing agreement in connection with a grain purchase was entered into before July 1, 2021, the licensee shall complete the licensee's payment obligations to the seller under the agreement before January 1, 2024. Establishes criteria to determine the price date in the deferred pricing agreement. Provides that if a licensee fails to price grain, the director may impose a fine. Adds a definition of "conflict of interest". Provides that the attorney general may designate an attorney representative to serve on the board (board) of the Indiana grain indemnity corporation (corporation). Modifies duties of the board. Provides that a board member of the corporation with a conflict of interest in a proceeding before the board is recused from the proceedings. Provides that, if a board member is found to have violated the terms of a confidentiality agreement, the board member forfeits the member's appointment to the board and shall be removed as a member of the board. Requires that if a board member is suspected of violating a confidentiality agreement the matter must be referred to the office of the attorney general. Allows the corporation to: (1) study fund solvency, practices, and procedures; and (2) pay legal fees and legal expenses in actions brought against the corporation or the board of the corporation. Increases the amount from $250,000 to $350,000 that may be transferred to the administrative expense account (account). Adds a study of fund solvency, practices, and procedures, professional development and training programs, technology software updates and technology support services, and professional training for board members to listed administrative expenses allowed from the account.

Bill Sponsors (10)

Votes


Actions


Apr 16, 2021

House

Signed by the Speaker

Apr 14, 2021

House

House concurred in Senate amendments; Roll Call 447: yeas 81, nays 0

House

Motion to concur filed

Senate

Returned to the House with amendments

Apr 13, 2021

Senate

Third reading: passed; Roll Call 428: yeas 46, nays 3

Apr 08, 2021

Senate

Senators Glick and Tomes added as cosponsors

Apr 06, 2021

Senate

Second reading: ordered engrossed

Apr 05, 2021

Senate

Senator Kruse added as cosponsor

Mar 30, 2021

Senate

Committee report: amend do pass, adopted

Feb 23, 2021

Senate

First reading: referred to Committee on Agriculture

  • Reading-1
  • Referral-Committee
agriculture

Feb 16, 2021

House

Referred to the Senate

Feb 15, 2021

House

Senate sponsors: Senators Leising, Mishler, Messmer

House

Third reading: passed; Roll Call 125: yeas 92, nays 0

Feb 09, 2021

House

Representatives Heine and Klinker added as coauthors

Feb 08, 2021

House

Second reading: ordered engrossed

Feb 04, 2021

House

Committee report: amend do pass, adopted

Jan 14, 2021

House

Authored by Representative Snow

House

First reading: referred to Committee on Agriculture and Rural Development

  • Reading-1
  • Referral-Committee
agriculture and rural development

House

Coauthored by Representative Leonard

Bill Text

Bill Text Versions Format
Introduced House Bill (H) PDF
House Bill (H) PDF
House Bill (S) PDF
Enrolled House Bill (H) PDF

Related Documents

Document Format
Fiscal Note: HB1483.04.ENRS.FN001 PDF

Sources

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