Senate File 2401 S-5113 Amend Senate File 2401 as follows: 1 1. Page 1, before line 1 by inserting: 2 < DIVISION I 3 CLAIMS AGAINST GRAIN DEPOSITORS AND SELLERS INDEMNITY FUND > 4 2. Page 2, line 2, by striking < sixteen > and inserting 5 < twelve > 6 3. Page 2, line 12, by striking < eight > and inserting < five > 7 4. Page 2, lines 18 and 19, by striking < transferred 8 title to the grain > and inserting < delivered the grain, and 9 transferred title to the that grain , > 10 5. Page 2, line 27, before < Act > by inserting < division of 11 this > 12 6. Page 2, lines 34 and 35, by striking < July 1 of the 13 fourth > and inserting < September 1 of the first > 14 7. Page 3, line 2, before < Act > by inserting < division of 15 this > 16 8. Page 3, line 4, before < Act > by inserting < division of 17 this > 18 9. Page 3, after line 6 by inserting: 19 < DIVISION ___ 20 ASSESSMENT YEAR 21 Sec. ___. Section 203D.3, subsection 3, Code 2024, is 22 amended to read as follows: 23 3. The assessment year of the fund begins September is the 24 same as the state fiscal year beginning on July 1 and ends 25 ending on August 31 June 30 . Assessment quarters of the fund 26 begin September on July 1, December October 1, March January 1, 27 and June April 1. The finances of the fund shall be calculated 28 on an accrual basis in accordance with generally accepted 29 accounting principles. 30 Sec. ___. Section 203D.5, subsection 1, Code 2024, is 31 amended to read as follows: 32 1. The board shall annually review the debits of and credits 33 to the grain depositors and sellers indemnity fund created 34 in section 203D.3 and shall determine whether to impose the 35 -1- SF 2401.3389 (3) 90 da/ns 1/ 3 #1. #2. #3. #4. #5. #6. #7. #8. #9.

participation fee and per-bushel fee as provided in section 1 203D.3A , make adjustments to the fees effective on the previous 2 September July 1, or waive the fees as necessary to comply with 3 this section . The board shall make the determination not later 4 than May 1 of each year. The board shall impose the fees or 5 adjust the fees effective on the previous September July 1 in 6 accordance with chapter 17A . The imposition or adjustment of 7 the fees shall become effective as follows: 8 a. For the participation fee, on the following September 9 July 1. However, the licensee shall continue to pay the 10 participation fee at the rate in effect on the prior September 11 July 1, until the licensee has paid the amount owing. 12 b. For a per-bushel fee, on the following September July 1. 13 Sec. ___. Section 203D.5, subsection 4, paragraph a, Code 14 2024, is amended to read as follows: 15 a. The participation fee shall be waived and shall not be 16 assessable or owing for the following assessment year of the 17 fund. However, the licensee shall continue to pay any owing 18 participation fee that was in effect on the prior September 19 July 1. 20 Sec. ___. CONTINGENT EFFECTIVE DATE. 21 1. This division of this Act takes effect on the publication 22 date of the issue of the Iowa administrative bulletin that 23 includes a notice by the secretary of agriculture stating that 24 the participation fee and per-bushel fee paid by grain dealers 25 and warehouse operators have been waived as provided in section 26 203D.5. 27 2. The department of agriculture and land stewardship shall 28 send a copy of the notice to the Code editor at least two 29 weeks prior to the publication date of the Iowa administrative 30 bulletin as described in subsection l. > 31 10. By renumbering as necessary. 32 -2- SF 2401.3389 (3) 90 da/ns 2/ 3