All Roll Calls
Yes: 165 • No: 11
IowaSF 60891st General Assembly (2025–2026)SenateWALLET
A bill for an act regulating the marketing of grain, by providing for fees paid by grain dealers and warehouse operators into the grain depositors and sellers indemnity fund, and the payment of claims to reimburse sellers and depositors for losses covered by the fund, and including effective date and applicability provisions. (Formerly SSB 1131.) Effective date: 05/27/2025, 07/01/2025. Applicability date: 10/24/2022.
Sponsored By: COMMITTEE ON WAYS AND MEANS
Signed by Governor
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Bill Overview
Analyzed Economic Effects
5 provisions identified: 0 benefits, 1 costs, 4 mixed.
Grain sellers gain capped loss payments
Eligible sellers recover 90% of covered losses outside credit-sale contracts, or 75% for deferred-pricing contracts; deferred-payment losses are excluded. Total payments cannot exceed $400,000 and may fall to $300,000 based on how much loss comes from deferred pricing. Dealers must obtain sellers’ signed acknowledgment of written coverage notices and give both parties copies. The fund also pays eligible depositor claims and covered losses from sellers’ repayments to a dealer’s bankruptcy estate. It can cover necessary court-appointed receiver costs and specified legal costs tied to fund money.
Grain businesses face tighter financial checks
Beginning July 1, 2025, licensed grain dealers and warehouses must file financial statements with clean audit opinions from Iowa-licensed accountants. The state can require extra statements, but no more than one clean audit opinion yearly. Credit-sale dealers need $0.50 net worth per outstanding bushel, or a bond or irrevocable letter of credit covering the shortfall. That backing must equal $2,000 per $1,000 or partial $1,000 shortfall; missing audits or examined warehouse shortages also block credit-sale purchases. Dealers must notify the state of contract types, keep numbered forms and usage records, and separate forms or accounts when required.
Grain fund coverage expands with exclusions
Producers selling their own grain to licensed dealers can qualify; using a credit-sale contract alone no longer bars coverage. Licensed grain dealers and sellers using deferred-payment contracts are excluded. Grain grown outside Iowa qualifies only when an Iowa licensed dealer receives it as the first sale. For fund purposes, purchased grain includes company-owned paid grain and deferred-pricing purchases. Exclusions cover deferred-payment purchases, government or licensed-dealer purchases, and certain warehouse-receipt cancellations and company transfers; accepted documentation is required.
Grain fees allow installments and seller deductions
Grain licensees can pay participation fees with renewal or in four 25% installments on state-set dates after assessment quarters. New-license fees equal the full annual fee due on the first anniversary, defined by the last renewal-application date before expiration. Dealers remit per-bushel fees and forms by December 15, March 15, June 15, and September 15. Late, missing, or short filings face $10 per day or the shortage, whichever is less, with a $10 minimum for nonpayment. Dealers can deduct active fees from sellers’ payments only as listed settlement charges, once per bushel; improper deductions risk license suspension or revocation.
Grain sellers get clearer payment rules
Beginning July 1, 2025, dealers must pay at delivery or upon the seller’s later demand, except under credit-sale contracts. Without a demand, payment is due by the dealer’s last scheduled payment date under state rules. Credit-sale payments follow the contract: deferred-payment means an agreed price paid more than 30 days after delivery. Deferred-pricing means grain is delivered before its price is agreed. Ownership under credit-sale contracts generally transfers at delivery, rather than signing, unless the contract states otherwise.
Sponsors & Cosponsors
Sponsor
COMMITTEE ON WAYS AND MEANS
Affiliation unavailable
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
Senate vote • 5/14/2025
Passed Senate
Yes: 45 • No: 0
House vote • 5/8/2025
Passed House
Yes: 81 • No: 3
Senate vote • 4/7/2025
Passed Senate
Yes: 39 • No: 8
Actions Timeline
Signed by Governor.
5/27/2025SenateReported correctly enrolled, signed by President and Speaker, and sent to Governor.
5/23/2025SenateMessage from Senate.
5/14/2025HouseImmediate message.
5/14/2025SenatePassed Senate, yeas 45, nays 0.
5/14/2025SenateSenate concurred with S-3145.
5/14/2025SenateExplanation of vote.
5/13/2025HouseMessage from House, with amendment S-3145.
5/9/2025SenateImmediate message.
5/8/2025HousePassed House, yeas 81, nays 3.
5/8/2025HouseAmendment H-1296 filed, adopted.
5/8/2025HouseSubstituted for HF 999.
5/8/2025HouseRead first time, passed on file.
4/8/2025HouseMessage from Senate.
4/8/2025HouseImmediate message.
4/7/2025SenatePassed Senate, yeas 39, nays 8.
4/7/2025SenateAmendment S-3074 filed, adopted.
4/7/2025SenatePlaced on calendar under unfinished business.
4/3/2025SenateCommittee report, approving bill.
3/13/2025SenateIntroduced, placed on Ways and Means calendar.
3/13/2025Senate
Bill Text
As Introduced
Enrolled
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