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A32, R39, S603
Sponsors: Senator Climer
Document Path: SR-0272KM23.docx
Introduced in the Senate on March 7, 2023
Introduced in the House on March 30, 2023
Currently residing in the Senate
Summary: Grain and Cotton Producers Guaranty Fund
HISTORY OF LEGISLATIVE ACTIONS
|Date||Body||Action Description with journal page number|
|3/7/2023||Senate||Introduced and read first time (Senate Journal-page 6)|
|3/7/2023||Senate||Referred to Committee on Agriculture and Natural Resources (Senate Journal-page 6)|
|3/15/2023||Senate||Committee report: Favorable Agriculture and Natural Resources (Senate Journal-page 20)|
|3/16/2023||Scrivener's error corrected|
|3/28/2023||Senate||Read second time (Senate Journal-page 70)|
|3/28/2023||Senate||Roll call Ayes-42 Nays-0 (Senate Journal-page 70)|
|3/29/2023||Senate||Read third time and sent to House (Senate Journal-page 27)|
|3/30/2023||House||Introduced and read first time (House Journal-page 25)|
|3/30/2023||House||Referred to Committee on Agriculture, Natural Resources and Environmental Affairs (House Journal-page 25)|
|4/26/2023||House||Committee report: Favorable Agriculture, Natural Resources and Environmental Affairs (House Journal-page 7)|
|5/2/2023||House||Read second time (House Journal-page 29)|
|5/2/2023||House||Roll call Yeas-117 Nays-0 (House Journal-page 29)|
|5/3/2023||House||Read third time and enrolled (House Journal-page 21)|
|5/11/2023||Ratified R 39|
|5/16/2023||Signed By Governor|
|5/25/2023||Effective date 05/16/23|
|5/25/2023||Act No. 32|
View the latest legislative information at the website
VERSIONS OF THIS BILL
(A32, R39, S603)
AN ACT TO AMEND THE SOUTH CAROLINA CODE OF LAWS BY AMENDING SECTION 46-41-230, RELATING TO THE SOUTH CAROLINA GRAIN AND COTTON PRODUCERS GUARANTY FUND'S AMOUNT AND CLAIMS, SO AS TO PROVIDE THAT, IF THERE IS AN INSUFFICIENT AMOUNT OF MONEY TO COVER ALL CLAIMS, THEN PAYMENTS MUST BE MADE ON A PRO RATA BASIS, AND THE PRO RATA DETERMINATION SHALL BE BASED UPON THE PRODUCER'S TOTAL LOSS AMOUNT AS WELL AS THE TOTAL NUMBER OF EXEMPTIONS GRANTED TO THE PRODUCER; AND BY AMENDING SECTION 46-41-250, RELATING TO THE SOUTH CAROLINA GRAIN AND COTTON PRODUCERS GUARANTY FUND, SO AS TO INCLUDE COTTON.
Be it enacted by the General Assembly of the State of South Carolina:
Insufficiency in fund
SECTION 1. Section 46-41-230(D) of the S.C. Code is amended to read:
(D) If there is an insufficient amount of money in the fund to cover all claims, payments must be made on a pro rata basis up to one hundred percent of the total loss of each producer. The pro rata determination shall be based upon the producer's total loss amount as well as the total number of exemptions granted to the producer as set forth in Section 46-41-250. The more exemptions granted to a producer, the lower the share the producer will receive. Claims against the fund must be paid in the order in which they have been verified and approved.
Application for exemption
SECTION 2. Section 46-41-250(C) and (D) of the S.C. Code is amended to read:
(C) Upon filing of the application, the department must issue the applicant an exemption certificate specifying the producer, commodity exempted, and period of exemption. The certificate, when presented to the grain or cotton dealer upon delivery of the grain or cotton, entitles the specified producer to an exemption from the dealer's and handler's assessment on the specified commodity.
(D) When an exemption is granted under this section, the grain or cotton dealer must retain a copy of the exemption certificate for a period of no less than two years. Any producer who elects not to participate in the fund is not eligible to be reimbursed for any loss for the commodity exempted for that calendar year.
SECTION 3. This act takes effect upon approval by the Governor.
Ratified the 11th day of May, 2023.
Approved the 16th day of May, 2023.
This web page was last updated on June 14, 2023 at 1:38 PM