Authors: Representative Don Lehe
Co-authors: Representative David Niezgodski, Representative William Friend, Representative James Baird
Sponsors: Senator Jean Leising, Senator Susan Glick, Senator Brent Steele
Co-Sponsors: Senator Mark Messmer, Senator James Tomes, Senator James Arnold, Senator Lonnie Randolph
Increases the fee for inspecting a moisture testing device. Requires the Indiana grain buyers and warehouse licensing agency (agency) to employ all necessary employees to administer the grain buyer and warehouse laws. Defines "daily position record", "grain coproducts", and "seed inventory". Amends the definition of "grain assets". Changes the organization that administers the series 3 examination. Provides that an entity associated with a person with a revoked or suspended license may not operate as a grain buyer or warehouse. Adds seed inventory to the list of a warehouse's or grain buyer's (licensee's) unencumbered assets. Increases certain license fees. Adds certain information that must be included in a licensee's financial statements. Requires the agency to charge a fee for capacity changes between license renewal periods. Changes the structure and amounts of a licensee's late fees. Adds information that the agency may disclose about a licensee. Increases the amounts of a licensee's surety bond. Requires the agency to give public notice when a license is suspended or revoked. Reorganizes provisions concerning the grain indemnity fund and the administrative expense account, including repealing a law. Places a cap on the amount that the grain indemnity board may spend on administrative expenses. Raises the Indiana grain indemnity fund's cap to collect premiums for the grain indemnity program. Repeals laws concerning the licensing of a person to sell seed under a contract to purchase the seed crop produced.