| 1 | 1 | | 1.1 A bill for an act |
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| 2 | 2 | | 1.2 relating to agriculture; requiring excess money in the grain indemnity account to |
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| 3 | 3 | | 1.3 be transferred to the agricultural emergency account; amending Minnesota Statutes |
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| 4 | 4 | | 1.4 2024, section 223.25, subdivision 3. |
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| 5 | 5 | | 1.5BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MINNESOTA: |
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| 6 | 6 | | 1.6 Section 1. Minnesota Statutes 2024, section 223.25, subdivision 3, is amended to read: |
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| 7 | 7 | | 1.7 Subd. 3.Amount in grain indemnity account; basis for suspension and reinstatement |
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| 8 | 8 | | 1.8of grain indemnity premium collection.(a) Except as provided in paragraph (b), the grain |
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| 9 | 9 | | 1.9indemnity premiums required under this section must be collected until the grain indemnity |
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| 10 | 10 | | 1.10account contains more than $15,000,000 as of June 30 of any given year. |
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| 11 | 11 | | 1.11 (b) The commissioner must not require the collection of additional grain indemnity |
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| 12 | 12 | | 1.12premiums until the amount in the grain indemnity account drops below $8,000,000. In a |
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| 13 | 13 | | 1.13year when the commissioner determines that the grain indemnity account is at or below |
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| 14 | 14 | | 1.14$8,000,000, the commissioner may reinstate the collection described in this section. If the |
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| 15 | 15 | | 1.15account contains at least $8,000,000, the commissioner may, after holding a public meeting, |
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| 16 | 16 | | 1.16suspend premium payments for all producers in the event of economic hardship. |
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| 17 | 17 | | 1.17 (c) The commissioner shall announce the intention to collect the premiums described |
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| 18 | 18 | | 1.18in this section by May 1 with collection to begin July 1 of any given year until the grain |
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| 19 | 19 | | 1.19indemnity account contains at least $15,000,000. The commissioner must notify the public |
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| 20 | 20 | | 1.20of the commissioner's intent to reinstate collection of additional grain indemnity premiums |
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| 21 | 21 | | 1.21through publication in the State Register and by notifying each licensee of the licensee's |
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| 22 | 22 | | 1.22obligation to collect premiums. |
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| 23 | 23 | | 1Section 1. |
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| 24 | 24 | | 25-03637 as introduced02/06/25 REVISOR BD/CH |
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| 25 | 25 | | SENATE |
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| 26 | 26 | | STATE OF MINNESOTA |
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| 27 | 27 | | S.F. No. 2315NINETY-FOURTH SESSION |
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| 28 | 28 | | (SENATE AUTHORS: DORNINK, Dahms and Anderson) |
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| 29 | 29 | | OFFICIAL STATUSD-PGDATE |
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| 30 | 30 | | Introduction and first reading03/10/2025 |
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| 31 | 31 | | Referred to Agriculture, Veterans, Broadband, and Rural Development 2.1 (d) If the account balance exceeds $15,000,000 on June 30 of any given year and no |
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| 32 | 32 | | 2.2claims have been paid in the previous 24 months, the commissioner must transfer the amount |
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| 33 | 33 | | 2.3exceeding $15,000,000 to the agricultural emergency account. |
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| 34 | 34 | | 2Section 1. |
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| 35 | 35 | | 25-03637 as introduced02/06/25 REVISOR BD/CH |
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