LEGISLATIVE SERVICES AGENCY
OFFICE OF FISCAL AND MANAGEMENT ANALYSIS
FISCAL IMPACT STATEMENT
LS 7600 NOTE PREPARED: Jan 10, 2025
BILL NUMBER: HB 1419 BILL AMENDED:
SUBJECT: Grain indemnity.
FIRST AUTHOR: Rep. Baird BILL STATUS: As Introduced
FIRST SPONSOR:
FUNDS AFFECTED: GENERAL IMPACT: Pending
DEDICATED
FEDERAL
Summary of Legislation: Defines "revocation of a license". Creates a process in which the director of the
Indiana grain buyers and warehouse licensing agency (agency) determines whether a building or other
protected enclosure constitutes a single warehouse that requires one or more licenses. Specifies the
documents a person who desires to conduct business as a grain buyer, warehouse operator, or
buyer-warehouse (licensee) must submit to the agency to renew a license to operate. Specifies how a business
as a licensee may renew its license. Specifies the types of licenses the agency shall issue and how a license
may be relinquished. Establishes what information must be included in a financial statement submitted by
a licensee to the agency. Removes the ability of the agency to temporarily suspend a licensee's license.
Specifies various matters related to on-premises inspections. Permits the director of the agency (director) to
call an informal meeting with a licensee. Provides how the director may begin an enforcement action and
what information the director must send to the licensee. Provides when the director may revoke a licensee's
license and what information the director must share with the licensee. Establishes various notice
requirements. Permits the agency to adopt rules. Requires the director to inspect and test all equipment used
to test the moisture content of grain purchased from producers once per year. Requires the Indiana grain
indemnity corporation board to elect a chairperson and vice chairperson and take on various new
responsibilities. Addresses various issues with producer premiums. Provides that a grain buyer shall keep
accurate and correct records of grain purchased from producers documenting the producer premiums paid
by producers. Establishes storage fees to determine storage loss.
Effective Date: Upon passage; July 1, 2025.
Explanation of State Expenditures: As of the above date, the fiscal analysis of this bill has not been
completed. Please contact the Office of Fiscal and Management Analysis for an update of this fiscal impact
statement.
Explanation of State Revenues:
Explanation of Local Expenditures:
HB 1419 1 Explanation of Local Revenues:
State Agencies Affected:
Local Agencies Affected:
Information Sources:
Fiscal Analyst: Heather Puletz, 317-234-9484.
HB 1419 2