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House Bill 462

Actions | Amendments
Last Action signed by Governor (Act ch. 61)
Title AN ACT relating to grain.
Bill Documents Bill
Bill Request Number 244
Sponsor T. McKee
Summary of Original Version 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.
Index Headings of Original Version Agriculture - Grain assessments and disbursements, revisions to
Grain - Assessments and disbursements, revisions to
Insurance - Grain assessments and disbursements, revisions to
Licensing - Grain dealers and warehousemen, requirements for
Proposed Amendments House Committee Substitute 1
House Floor Amendment 1
Votes Vote History

Actions

Top | Amendments
02/13/09
  • introduced in House
02/23/09
  • to Agriculture & Small Business (H)
02/24/09
  • posting waived
02/25/09
  • reported favorably, 1st reading, to Calendar with Committee Substitute
02/26/09
  • 2nd reading, to Rules
  • posted for passage in the Regular Orders of the Day for Friday, February 27, 2009
02/27/09
  • floor amendment (1) filed to Committee Substitute
03/02/09
  • 3rd reading, passed 96-1 with Committee Substitute, floor amendment (1)
03/03/09
  • received in Senate
03/05/09
  • to Agriculture (S)
03/09/09
  • reported favorably, 1st reading, to Consent Calendar
03/10/09
  • 2nd reading, to Rules
03/11/09
  • 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
03/13/09
  • enrolled, signed by President of the Senate
  • delivered to Governor
03/20/09
  • signed by Governor (Act ch. 61)

Proposed Amendments

Top | Actions
Amendment House Committee Substitute 1
Summary 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.
Index Headings Agriculture - Grain assessments and disbursements, revisions to
Grain - Assessments and disbursements, revisions to
Insurance - Grain assessments and disbursements, revisions to
Licensing - Grain dealers and warehousemen, requirements for

Amendment House Floor Amendment 1
Sponsor T. McKee
Summary Reduce the amount an incidental grain dealer would need for an irrevocable letter of credit from $10,000 to $5,000.
Index Headings Agriculture - Grain assessments and disbursements, revisions to
Grain - Assessments and disbursements, revisions to
Insurance - Grain assessments and disbursements, revisions to
Licensing - Grain dealers and warehousemen, requirements for

Last updated: 8/28/2019 8:17 AM (EDT)