Text: HSB00220                          Text: HSB00222
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

House Study Bill 221

Bill Text

PAG LIN
  1  1    Section 1.  Section 203.1, subsection 8, paragraph j, Code
  1  2 2001, is amended to read as follows:
  1  3    j.  A cooperative corporation organized under chapter 501,
  1  4 if the cooperative buys only purchases grain from its members
  1  5 who are producers who are members or from a licensed grain
  1  6 dealer, and the cooperative does not resell that grain.
  1  7    Sec. 2.  Section 203.1, subsection 8, Code 2001, is amended
  1  8 by adding the following new paragraph:
  1  9    NEW PARAGRAPH.  k.  A limited liability company as defined
  1 10 in section 490A.102 that meets all of the following
  1 11 requirements:
  1 12    (1)  The majority of voting rights in the limited liability
  1 13 company are held by its members who are producers.
  1 14    (2)  The purpose of the limited liability company is to
  1 15 produce renewable fuel as defined in section 159A.2.
  1 16    (3)  The limited liability company only purchases grain
  1 17 from its members who are producers or from a licensed grain
  1 18 dealer.
  1 19    (4)  The limited liability company does not resell grain
  1 20 that it purchases.  
  1 21                           EXPLANATION
  1 22    This bill amends Code chapter 203, which provides for the
  1 23 regulation of grain dealers by the department of agriculture
  1 24 and land stewardship.  The bill amends Code section 203.1,
  1 25 which defines "grain dealer", including by providing
  1 26 exceptions.  This bill includes a new exception.  The bill
  1 27 provides that a grain dealer does not include a limited
  1 28 liability company if it meets certain requirements:  (1) a
  1 29 majority of voting rights in the limited liability company
  1 30 must be held by producers; (2) the purpose of the limited
  1 31 liability company is to produce renewable fuel; (3) the
  1 32 limited liability company only purchases grain from its member
  1 33 producers; and (4) the limited liability company does not
  1 34 resell grain that it purchases.  
  1 35 LSB 3322HC 79
  2  1 da/gg/8
     

Text: HSB00220                          Text: HSB00222
Text: HSB00200 - HSB00299               Text: HSB Index
Bills and Amendments: General Index     Bill History: General Index

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