House Bill 421, amending the Ohio Agricultural Commodity Handler Law passed out of the House with a 94-0 vote and now moves to the Senate Ag Committee.
The legislation increases the balance of the Agricultural Commodity Depositors Fund from $4 million to $10, 000 million; in most cases increases the Funds liability to 100% for valid claims; and allows interest from the Fund to be credited to the Fund and used, up to $500,000 for program administration.
The Senate version is being amended to alter the definition of a quorum for the Commodity Advisory Commission. The Commission composed of 7 members, 3 farmers, 3 licensed handlers and a banker act in an advisory capacity in matters relating to the law.
Current language requires two farmers and two handlers be present to constitute a quorum for conducting business. ODA is seeking to have a quorum consist of any 4 members present. The reason ODA wants the change is to insure claims are processed in an efficient manner.
The bill is scheduled for another hearing next week and may be voted out of committee.
You can track the bill by using the OABA web site - www.oaba.net, then follow