SB 461: Grain indemnity.

Official summary

Abstract published by the legislature (via Open States). Text as published by the legislature; reproduced verbatim.

Defines "revocation of a license". Creates a process in which the director of the Indiana grain buyers and warehouse licensing agency (agency) determines whether a building or other protected enclosure constitutes a single warehouse that requires one or more licenses. Specifies the documents a person who desires to conduct business as a grain buyer, warehouse operator, or buyer-warehouse (licensee) must submit to the agency to renew a license to operate. Specifies how a business as a licensee may renew its license. Specifies the types of licenses the agency shall issue and how a license may be relinquished. Establishes what information must be included in a financial statement submitted by a licensee to the agency. Removes the ability of the agency to temporarily suspend a licensee's license. Specifies various matters related to on-premises inspections. Permits the director of the agency (director) to call an informal meeting with a licensee. Provides when the director may revoke, and when the director shall revoke, a licensee's license and what information the director must share with the licensee. Establishes various notice requirements. Permits the agency to adopt rules. Requires the director to inspect and test all equipment used to test the moisture content of grain purchased from producers once per year. Requires the Indiana grain indemnity corporation board to elect a chairperson and vice chairperson and take on various new responsibilities. Addresses various issues with producer premiums. Provides that a grain buyer shall keep accurate and correct records of grain purchased from producers documenting the producer premiums paid by producers. Establishes storage fees to determine storage loss. Requires the office of the attorney general to provide legal assistance if requested by the director. Requires the director to take possession of the bond or other security and all proceeds from a grain sale in the event a licensee has failed to meet its obligations under the grain indemnity chapter. Provides that the director shall provide informal conferences between agency representatives and persons who have or who appear to have grain deposited with the licensee in revocation. Makes technical and conforming changes.

Sponsors

Sponsors by party (alphabetical): Republican 5

“Support” is shown only as formal sponsorship recorded by the legislature. Roll-call votes are available on the official bill page.

Recent official actions

1. April 30, 2025Signed by the Governor
2. April 30, 2025Public Law 114
3. April 23, 2025Signed by the President of the Senate
4. April 22, 2025Signed by the Speaker
5. April 17, 2025Signed by the President Pro Tempore
6. April 16, 2025Senate concurred with House amendments; Roll Call 464: yeas 41, nays 0
7. April 10, 2025Motion to concur filed
8. April 10, 2025Returned to the Senate with amendments
9. April 9, 2025Third reading: passed; Roll Call 413: yeas 95, nays 0
10. April 7, 2025Second reading: ordered engrossed
11. April 3, 2025Committee report: do pass, adopted
12. April 1, 2025Representative Culp added as cosponsor

Showing 12 most recent of 26 actions. Full history