Senate Bill 2631

AN ACT TO CREATE NEW SECTION 75-46-1, MISSISSIPPI CODE OF 1972, TO ESTABLISH THE "MISSISSIPPI GRAIN INDEMNITY ACT"; TO CREATE NEW SECTION 75-46-3, MISSISSIPPI CODE OF 1972, TO DEFINE THE RELEVANT TERMS OF THIS ACT; TO CREATE NEW SECTION 75-46-5, MISSISSIPPI CODE OF 1972, TO CREATE THE MISSISSIPPI GRAIN INDEMNITY BOARD; TO OUTLINE THE PURPOSE, COMPOSITION AND DUTIES OF THE BOARD; TO CREATE THE MISSISSIPPI GRAIN INDEMNITY TRUST FUND WITHIN THE STATE TREASURY; TO CREATE NEW SECTION 75-46-7, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE GRAIN INDEMNITY TRUST FUND SHALL BE ADMINISTERED BY THE BOARD; TO CREATE NEW SECTION 75-46-9, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT BEGINNING JANUARY 1, 2027, GRAIN PRODUCERS WILL BE CHARGED AN ASSESSMENT EQUAL TO .2% OF ALL MARKETED GRAIN THAT IS SOLD TO A FIRST PURCHASER LICENSEE; TO CREATE NEW SECTION 75-46-11, MISSISSIPPI CODE OF 1972, TO PROVIDE HOW GRAIN ASSESSMENTS SHALL BE COLLECTED; TO CREATE NEW SECTION 75-46-13, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE GRAIN INDEMNITY TRUST FUND SHALL NOT FALL BELOW $20,000,000.00 AT THE END OF THE FISCAL YEAR; TO CREATE NEW SECTION 75-46-15, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT FIRST PURCHASER LICENSEES MUST MAINTAIN A LEDGER OF ALL ASSESSMENTS COLLECTED; TO CREATE NEW SECTION 75-46-17, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT PARTICIPATION IN THE GRAIN INDEMNITY TRUST FUND IS VOLUNTARY, AND HOW TO NOTIFY THE DEPARTMENT IF A PRODUCER DOES NOT WANT TO PARTICIPATE IN ANY GIVEN YEAR; TO CREATE NEW SECTION 75-46-19, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE COMMISSIONER SHALL BE RESPONSIBLE FOR DETERMINING WHEN A FIRST PURCHASER LICENSEE HAS FAILED OR WHEN A FAILURE HAS OCCURRED; TO PROVIDE PROCEDURE REGARDING HOW NOTICE SHALL BE GIVEN; TO CREATE NEW SECTION 75-46-21, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD TO PROMULGATE RULES AND REGULATIONS NECESSARY FOR THE OPERATION OF THE BOARD AND ADJUDICATION OF CLAIMS; TO CREATE NEW SECTION 75-46-23, MISSISSIPPI CODE OF 1972, TO REQUIRE THAT CLAIMS SUBMITTED TO THE BOARD SHALL BE REVIEW BY A DESIGNEE OR DESIGNEES; TO CREATE NEW SECTION 75-46-25, MISSISSIPPI CODE OF 1972, TO PROVIDE HOW CLAIMS FOR STORAGE LOSS SHALL BE PAID; TO CREATE NEW SECTION 75-46-27, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT WHEN THE TOTAL AMOUNT OF ELIGIBLE CLAIMS EXCEEDS THE FUNDS AVAILABLE, THE BOARD SHALL MAKE PAYMENTS ON A PRO RATA BASIS; TO CREATE NEW SECTION 75-46-29, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE COMMISSIONER SHALL HAVE THE AUTHORITY TO REVOKE THE LICENSE OF FIRST PURCHASER LICENSEES FOR FAILURE TO TIMELY COLLECT AND SUBMIT ASSESSMENTS; TO CREATE NEW SECTION 75-46-31, MISSISSIPPI CODE OF 1972, TO REQUIRE THE COMMISSIONER TO ESTABLISH A TOLL-FREE HOTLINE FOR RECEIVING INFORMATION CONCERNING THE FAILURE OF A FIRST PURCHASER LICENSEE TO MAKE TIMELY PAYMENTS FOR THE PURCHASE OF GRAIN AND OTHER SUSPICIONS OF FRAUDULENT ACTIVITY BY A FIRST PURCHASER LICENSEE; TO CREATE NEW SECTION 75-46-33, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT BOARD RECORDS ARE SUBJECT TO AN AUDIT PERFORMED BY THE STATE AUDITOR AT ANY TIME; TO CREATE NEW SECTION 75-46-35, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT CLAIMANTS WHO ARE FULLY COMPENSATED UNDER THIS CHAPTER, SHALL HAVE SUBROGATED ALL CLAIMANTS RIGHTS ON A BOND OR OTHER PLEDGED FINANCIAL ASSETS; TO CREATE NEW SECTION 75-46-37, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD TO HAVE THE AUTHORITY TO ADOPT ALL RULES AND REGULATIONS NEEDED TO CARRY OUT THE POWERS AND DUTIES OF THE BOARD; TO AMEND SECTIONS 75-44-29, 75-44-31, 75-44-35, 75-45-304, 75-45-307 AND 75-45-311, MISSISSIPPI CODE OF 1972, TO CONFORM; AND FOR RELATED PURPOSES.

In the Senate

• Neil S. Whaley

  Sponsor

l9n doesn't hold this bill's text yet.

In the Senate Jan 19 – Feb 10

1. Jan 19Referred to the Senate committee on Agriculture
2. Feb 3Reported from committee in the Senate: title sufficient, do pass
3. Feb 10Passed the Senate

In the House of Representatives Feb 11 – Mar 4

1. Feb 11Sent to the House
2. Feb 16Referred to the House committee on Agriculture
3. Feb 24Reported from committee in the House: title sufficient, do pass
4. Mar 4Passed the House

To the Governor Mar 5 – Mar 13

1. Mar 5Returned to the Senate for enrolling
2. Mar 10Enrolled bill signed in the Senate
3. Enrolled bill signed in the House
4. Mar 13Approved by the Governor