House
File
2566
-
Introduced
HOUSE
FILE
2566
BY
COMMITTEE
ON
AGRICULTURE
(SUCCESSOR
TO
HF
2198)
(COMPANION
TO
LSB
6018SV
BY
COMMITTEE
ON
AGRICULTURE)
A
BILL
FOR
An
Act
establishing
a
study
relating
to
the
grain
depositors
1
and
sellers
indemnity
fund.
2
BE
IT
ENACTED
BY
THE
GENERAL
ASSEMBLY
OF
THE
STATE
OF
IOWA:
3
TLSB
6018HV
(3)
88
da/ns
H.F.
2566
Section
1.
DEPARTMENT
STUDY
——
GRAIN
DEPOSITORS
AND
SELLERS
1
INDEMNITY
FUND.
2
1.
The
department
of
agriculture
and
land
stewardship
3
shall
conduct
a
study
regarding
the
long-term
continuance
4
of
the
grain
depositors
and
sellers
indemnity
fund
created
5
in
section
203D.3.
The
department
may
consider
any
matter
6
that
it
determines
to
be
relevant,
including
but
not
limited
7
to
the
administration
of
the
fund,
participation
in
the
8
fund,
contributions
made
to
the
fund
and
the
basis
for
these
9
contributions,
risks
to
the
fund,
indemnification
of
claims
10
against
the
fund,
claims
on
behalf
of
the
fund,
and
the
fund’s
11
optimal
balance
and
optimal
waiver
amount.
The
department
12
shall
evaluate
possible
methods
to
indemnify
sellers
of
grain
13
who
execute
deferred-payment
contracts,
including
by
payments
14
from
the
fund
or
another
fund.
15
2.
The
department
may
consult
with
the
Iowa
grain
indemnity
16
fund
board
and
shall
seek
comments
from
persons
who
have
an
17
interest
in
the
fund’s
operation.
18
3.
The
department
shall
submit
a
report
regarding
the
study,
19
including
findings
and
recommendations,
to
the
governor
and
20
general
assembly
not
later
than
December
15,
2020.
The
report
21
may
include
proposed
legislation
determined
by
the
department
22
to
be
necessary
or
desirable.
23
EXPLANATION
24
The
inclusion
of
this
explanation
does
not
constitute
agreement
with
25
the
explanation’s
substance
by
the
members
of
the
general
assembly.
26
This
bill
requires
the
department
of
agriculture
and
land
27
stewardship
(DALS)
to
conduct
a
study
regarding
the
long-term
28
continuance
of
the
grain
depositors
and
sellers
indemnity
fund.
29
The
items
of
study
may
include
the
administration
of
the
fund,
30
participation
in
the
fund,
contributions
made
to
the
fund,
31
risks
to
the
fund,
claims
against
and
on
behalf
of
the
fund,
32
and
the
optimal
balance
and
optimal
waiver
amounts.
DALS
must
33
evaluate
possible
methods
to
indemnify
sellers
of
grain
who
34
execute
deferred-payment
contracts.
DALS
may
consult
with
the
35
-1-
LSB
6018HV
(3)
88
da/ns
1/
2
H.F.
2566
Iowa
grain
indemnity
fund
board
and
must
seek
comments
from
1
persons
who
have
an
interest
in
the
fund’s
operation.
DALS
2
must
submit
a
report
to
the
governor
and
general
assembly
not
3
later
than
December
15,
2020.
4
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6018HV
(3)
88
da/ns
2/
2