09RS HB462

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HB 462 (BR 244) - T. McKee

AN ACT relating to grain.
Amend KRS 251.430 to allow license fees to be used to carry out the provisions of the chapter; amend KRS 251.451 to allow a warehouseman to use a warehouse receipt for temporary surety until permanent surety is issued; amend KRS 251.640 to increase the grain insurance fund cap from $4 million to $10 million, the minimum floor from $3 million to $8 million before grain assessments begin; amend 251.642 to conform; amend 251.650 to allow the interest from the grain insurance fund to be used for paying legal fees and carrying out the chapter; amend KRS 251.660 to remove the cap of $1.5 million for funding unpaid claims; amend KRS 251.670 to increase the cap for paying claimants resulting from the failure of a licensed grain dealer from $100,000 to $200,000; amend KRS 251.720 to remove the cap of $100,000 for the bonding requirements of a licensed grain dealer and increase the minimum letter of credit requirement for an incidental grain dealer from $1,000 to $10,000; amend KRS 251.990 to allow fines and penalties collected by the department to be used to carry out the provisions of the chapter; make technical corrections.

HB 462 - AMENDMENTS

HCS - Retain original, except amend KRS 251.430, 251.720, and 251.990 to remove the requirement that license fees be deposited in the grain insurance fund; amend KRS 251.640 to prohibit an assessment from being levied unless the fund falls below $3,000,000; delete the section that amended KRS 251.650.

HFA (1, T. McKee) - Reduce the amount an incidental grain dealer would need for an irrevocable letter of credit from $10,000 to $5,000.

     Feb 13-introduced in House
     Feb 23-to Agriculture & Small Business (H)
     Feb 24-posting waived
     Feb 25-reported favorably, 1st reading, to Calendar with Committee Substitute
     Feb 26-2nd reading, to Rules; posted for passage in the Regular Orders of the Day for Friday, February 27, 2009
     Feb 27-floor amendment (1) filed to Committee Substitute
     Mar 2-3rd reading, passed 96-1 with Committee Substitute, floor amendment (1)
     Mar 3-received in Senate
     Mar 5-to Agriculture (S)
     Mar 9-reported favorably, 1st reading, to Consent Calendar
     Mar 10-2nd reading, to Rules
     Mar 11-posted for passage in the Consent Orders of the Day for Wednesday, March 11, 2009; 3rd reading, passed 38-0; received in House; enrolled, signed by Speaker of the House
     Mar 13-enrolled, signed by President of the Senate; delivered to Governor
     Mar 20-signed by Governor (Act ch. 61)

Vote History

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