SB 143 Creates price reporting requirements for licensed grain dealers
Sponsor: Mayer
LR Number: 0375S.01I Fiscal Note: 0375-01
Committee: Agriculture, Food Production and Outdoor Resources
Last Action: 2/18/2009 - Hearing Cancelled S Agriculture, Food Production and Outdoor Resources Committee Journal Page:
Title: Calendar Position:
Effective Date: August 28, 2009

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Current Bill Summary

SB 143 - Under this act, the Department of Agriculture shall require licensed grain dealers to document the cost difference between a grain's cash price and its futures price for every sales transaction of grain. The documentation must include an explanation of how the dealer determined the difference. Dealers must report this information to the Department at least monthly. Dealers shall be subject to a penalty of between $200 and $1,000 per violation for failure to comply with any of the requirements of the act.