TGPIB Producer Referendum
The Texas Grain Producers Indemnity Fund Board continues to work toward providing a low cost and efficient method to indemnify grain producers when a grain buyer suffers a financial failure and cannot pay for delivered grain. The board has worked with the reinsurance industry to devise a plan that will dramatically lower the cost of a fund to the producer.
To be able to present this more efficient indemnity fund to the producers for acceptance via a referendum, the board is working to pass corrective legislation.
Follow the below links for resources related to this corrective legislation:
- Current Grain Indemnity Legislation
- Bill Correction Brief
- Draft Changes to Grain Indemnity Legislation
- Bill Analysis
The board has the responsibility to continue to work toward creating an indemnity fund, but certainly understands producers will decide whether the tool is implemented.