View Daily Data Tracking History
View Bill Text
View Statement of Purpose / Fiscal Impact
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
|||| 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
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