House Journal: Page 1389: Monday, April 19, 1999

32   than thirty dollars for thirty consecutive days,

33   according to market news reports published by the
34   agricultural marketing service of the United States
35   department of agriculture.
36       (2)  For cattle, a market emergency exists when the
37   market price paid in the midwest and high plains
38   states for cattle per hundredweight on a live basis is
39   less than fifty-six dollars for thirty consecutive
40   days, according to market news reports published by
41   the agricultural marketing service of the United
42   States department of agriculture.
43     2.  The treasurer of state shall adopt rules
44   pursuant to chapter 17A to administer this division.
45   The treasurer of state shall consult with the
46   department of agriculture and land stewardship in
47   adopting rules for the administration of the emergency
48   assistance linked deposit program for swine or cattle
49   producers.
50     3.  Certificates of deposit placed by the treasurer
Page 2  
 1   of state on or after July 1, 1996, pursuant to this
 2   division may be renewed at the option of the treasurer
 3   of state.  The initial certificate of deposit for a
 4   given borrower shall have a maturity of one year and
 5   may be renewed for eight additional one-year periods.
 6     Sec. 101. NEW SECTION.  12.43A  EMERGENCY
 7   ASSISTANCE LINKED DEPOSIT PROGRAM FOR SWINE OR CATTLE
 8   PRODUCERS.
 9     1.  As used in this section, unless the context
10   otherwise requires:
11     a.  "Actively engaged in farming" means the same as
12   defined in section 10.1.
13     b.  "Farming" means the same as defined in section
14   9H.1.
15     2.  The treasurer of state shall adopt rules to
16   implement an emergency assistance linked deposit
17   program for swine or cattle producers.  The purpose of
18   the program is to increase the availability of lower
19   cost loans to provide emergency financial assistance
20   to farmers threatened with financial calamity due to
21   the market price of swine or cattle.
22     3.  The loan shall be subject to all of the
23   following:
24     a.  In order to qualify as an eligible borrower,
25   all of the following must apply:
26     (1)  The applicant must be a resident of this
27   state.
28     (2)  The applicant for the loan must be actively
29   engaged in farming in this state.
30     (3)  If the market emergency exists because of the

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