With many legislators focusing on the Area Education Agency bill and other education bills, one Senator shares about talks on an ag related bill.

Senator for District 12 Amy Sinclair says that those conversations are looking at modernizing Iowa’s Grain Indemnity Fund. She tells Raccoon Valley Radio what that fund covers.

“Essentially what that is, is a fund within the Iowa Department of Agriculture that is there in case a grain elevator might have to go bankrupt or go out of business, so that any grain that’s held by that elevator, the owner of that grain would be held harmless, or could be reimbursed for at least a portion of their losses.”

Sinclair mentions that a tax had to be levied against those selling grain at elevators last year, which caused legislators to look at the Grain Indemnity Fund, and they found some gaps, the largest of which was was that most grain is sold on a future contract, which isn’t covered by the Fund. She adds that this is the largest factor in the drive for the modernization of the fund, so that farmers don’t have to worry about losing money, and that she’s keeping her eye on the bills progress.