PRIA Logo™
MississippiSB 26312026 Regular SessionSenateWALLET

The Mississippi Grain Indemnity Act; establish.

Sponsored By: Neil S. Whaley (Republican)

Signed by Governor

Agriculture

Personalized for You

How does this bill affect your finances?

Personalize government policy and PRIA will tell you what this bill means for your household, plus every other piece of legislation we track. PRIA reads each provision against your financial profile to show you exactly what matters to your wallet.

Free to download

Bill Overview

Analyzed Economic Effects

3 provisions identified: 0 benefits, 0 costs, 3 mixed.

Grain farmers can claim dealer bonds

When a grain dealer fails to pay for purchased grain, the commissioner determines which producers are owed money and how much. The commissioner then seeks payment from the dealer’s bond or pledged assets. Producers must notify the commissioner in writing within 30 days after the dealer refuses or fails to pay. They must request payment within 160 days of the sale or delivery, whichever is later, or within 270 days after delivery for deferred or similar pricing arrangements. Producers must also file a claim under the commissioner’s rules.

Grain farmers pay into a loss fund

The law creates a trust fund that pays approved claims for covered contract and storage losses. It covers Mississippi-grown whole-kernel corn, soybeans, and wheat, but payments apply only to crops produced after January 1, 2027. Starting January 1, 2027, first purchasers deduct 0.2% of the sale price for assessments; collection stops when the fund reaches $25 million. Assessments can restart the following January if the fund is below $25 million or a likely failure could bring it below $20 million at fiscal year-end. First purchasers must show deductions on invoices and send assessments monthly by the 20th; this collection duty begins July 1, 2026. Fund administration is capped at $200,000 per fiscal year, or $500,000 while claims are ongoing, and unused money stays in the fund. Fully compensated claimants transfer recovery rights to the fund.

Grain dealers keep separate bonds

Starting July 1, 2026, a grain dealer covered by both laws must keep separate bonds. This gives producers distinct security for obligations under each law, but adds a bonding requirement for affected dealers. Grain dealer licenses also renew each year on July 1, replacing the prior renewal timing tied to the applicant’s fiscal year.

Sponsors & Cosponsors

Sponsor

  • Neil S. Whaley

    Republican • Senate

Cosponsors

There are no cosponsors for this bill.

Roll Call Votes

All Roll Calls

Yes: 173 • No: 0

House vote • 3/4/2026

Passed

Yes: 121 • No: 0

Senate vote • 2/10/2026

Passed

Yes: 52 • No: 0

Actions Timeline

  1. Approved by Governor

    3/13/2026legislature

  2. Enrolled Bill Signed

    3/10/2026House

  3. Enrolled Bill Signed

    3/10/2026Senate

  4. Returned For Enrolling

    3/5/2026House

  5. Passed

    3/4/2026House

  6. Title Suff Do Pass

    2/24/2026House

  7. Referred To Agriculture

    2/16/2026House

  8. Transmitted To House

    2/11/2026Senate

  9. Passed

    2/10/2026Senate

  10. Title Suff Do Pass

    2/3/2026Senate

  11. Referred To Agriculture

    1/19/2026Senate

Bill Text

Related Bills

Back to State Legislation