2003 Legislation
Print Friendly

HOUSE BILL NO. 102 – Commodity Indemnity Fund, pymt/time

HOUSE BILL NO. 102

View Daily Data Tracking History

View Bill Text

View Statement of Purpose / Fiscal Impact



Text to be added within a bill has been marked with Bold and
Underline. Text to be removed has been marked with
Strikethrough and Italic. How these codes are actually displayed will
vary based on the browser software you are using.

This sentence is marked with bold and underline to show added text.

This sentence is marked with strikethrough and italic, indicating
text to be removed.

Daily Data Tracking History



H0102..................................................by AGRICULTURAL AFFAIRS
COMMODITY INDEMNITY FUND - Amends existing law relating to bonded warehouses
to restrict the time in which certain contracts are eligible for payment from
the Commodity Indemnity Fund.
                                                                        
01/23    House intro - 1st rdg - to printing
01/24    Rpt prt - to Agric Aff
02/19    Rpt out - rec d/p - to 2nd rdg
02/20    2nd rdg - to 3rd rdg
02/24    3rd rdg - PASSED - 63-0-7
      AYES -- Andersen, Barraclough, Barrett, Bauer, Bedke, Bell, Black,
      Block, Boe, Bolz, Bradford, Campbell, Cannon, Clark, Collins, Crow,
      Cuddy, Deal, Denney, Douglas, Eberle, Edmunson, Ellsworth, Eskridge,
      Field(18), Field(23), Gagner, Garrett, Henbest, Jaquet, Jones, Kulczyk,
      Lake, Langford, Langhorst, Martinez, McGeachin, McKague, Meyer, Miller,
      Mitchell, Moyle, Naccarato, Nielsen, Ring, Ringo, Roberts, Robison,
      Rydalch, Sayler, Schaefer, Shepherd, Shirley, Skippen, Smith(30),
      Smith(24), Smylie, Snodgrass, Stevenson, Tilman, Trail, Wills, Mr.
      Speaker
      NAYS -- None
      Absent and excused -- Bieter, Harwood, Kellogg, Raybould, Ridinger,
      Sali, Wood
    Floor Sponsor - Trail
    Title apvd - to Senate
02/25    Senate intro - 1st rdg - to Agric Aff
03/12    Rpt out - rec d/p - to 2nd rdg
03/13    2nd rdg - to 3rd rdg
03/17    3rd rdg - PASSED - 30-0-5
      AYES -- Andreason, Bailey, Brandt, Bunderson, Burtenshaw, Calabretta,
      Compton, Darrington, Gannon, Geddes, Goedde, Hill, Ingram, Kennedy,
      Keough, Little, Lodge, Malepeai, McKenzie, McWilliams, Noble, Noh,
      Pearce, Richardson, Schroeder, Stegner, Stennett, Sweet, Werk, Williams
      NAYS -- None
      Absent and excused -- Burkett, Cameron, Davis, Marley, Sorensen
    Floor Sponsor - Noh
    Title apvd - to House
03/19    To enrol
03/20    Rpt enrol - Sp signed
03/21    Pres signed
03/24    To Governor
03/27    Governor signed
         Session Law Chapter 131
         Effective: 03/27/03

Bill Text


                                                                        
                                                                        
  ||||              LEGISLATURE OF THE STATE OF IDAHO             ||||
 Fifty-seventh Legislature                 First Regular Session - 2003
                                                                        
                                                                        
                              IN THE HOUSE OF REPRESENTATIVES
                                                                        
                                     HOUSE BILL NO. 102
                                                                        
                             BY AGRICULTURAL AFFAIRS COMMITTEE
                                                                        
  1                                        AN ACT
  2    RELATING TO  BONDED  WAREHOUSES;  AMENDING  SECTION  69-263,  IDAHO  CODE,  TO
  3        RESTRICT THE TIME IN WHICH CERTAIN CONTRACTS ARE ELIGIBLE FOR PAYMENT FROM
  4        THE COMMODITY INDEMNITY FUND; AND DECLARING AN EMERGENCY.
                                                                        
  5    Be It Enacted by the Legislature of the State of Idaho:
                                                                        
  6        SECTION  1.  That  Section  69-263, Idaho Code, be, and the same is hereby
  7    amended to read as follows:
                                                                        
  8        69-263.  FAILURE TO FILE -- LOSS OF CLAIM ON FUND. If  a  producer,  after
  9    notification,  refuses  or  neglects to file in the office of the director his
 10    verified claim against a warehouseman or dealer as requested by  the  director
 11    within ninety (90) days from the date of the notice, the director shall there-
 12    upon  be  relieved  of  responsibility  for taking action with respect to such
 13    claim later asserted and no such claim shall be paid from the commodity indem-
 14    nity fund. No claim shall be paid from the fund if a producer files his  claim
 15    more  than two (2) years from the date of sale of the commodity. Provided how-
 16    ever, for those claims that are based on contracts containing no readily  cal-
 17    culable  sale  value of the commodity for the producer, no claim shall be paid
 18    from the fund if a producer files his claim more than one hundred eighty (180)
 19    days from the date the contract is executed.
                                                                        
 20        SECTION 2.  An emergency existing  therefor,  which  emergency  is  hereby
 21    declared to exist, this act shall be in full force and effect on and after its
 22    passage and approval.

Statement of Purpose / Fiscal Impact



                       STATEMENT OF PURPOSE
                             RS 12570
The purpose of this legislation is to limit the exposure of the
Commodity Indemnity Account when producers deposit grain in
warehouses under price-later contracts.  These contracts are
open-ended and could carry on for years if no date certain is
set.  The legislation does not limit the length of price-later
contracts, it just limits the time of exposure that the Commodity
Indemnity Fund would cover in case a warehouse becomes insolvent.
                          FISCAL IMPACT
No fiscal impact to the General Fund


Contact
Name: Dar Olberding, Idaho Grain Producers Association 
Phone: 345-0706




STATEMENT OF PURPOSE/FISCAL NOTE                       H102