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