As we’ve been reporting since the beginning of the year, the Ohio General Assembly is moving this Spring to update Ohio’s Commodity Handler’s Law – aka the Grain Indemnity Fund.
S.B. 66 which was sponsored by Sen. Cliff Hite (RFindlay) who also chairs the Senate Ag Committee has moved through Chairman David Hall’s House Agriculture and Natural Resources Committee. Hall (R-Millersburg) is OFU’s current Legislator of the Year.
One technical amendment was accepted by Hall’s committee which states that the financial statements provided to the Ohio Dept. of Agriculture by grain elevator operators meet Generally Accepted Accounting Practices (GAAP). The amendment and the bill were approved by the committee and now we wait for House Speaker Bill Batchelder to schedule the measure for a vote in the full House.