2003 House Bill 4311 ↩

Senate Roll Call 506: Passed

To establish a new state farm produce insurance authority to provide insurance to farmers against losses from the failure of grain dealers. The insurance would be deducted from payments on sales to licensed grain dealers, with the premium set at .02% of the net proceeds from all sales of farm produce, including dry edible beans, soybeans, small grains, cereal grains and corn. The premiums would finance a farm produce insurance fund. A producer could request a refund of the premium, but would then not be covered by the insurance in the event of the failure of a grain dealer, and would not be able to obtain the insurance coverage for 36 months after the refund. The bill replaces an existing state grain dealer insurance program.