HB370

Louisiana HB370 increases the assessment rate on agricultural commodities for the Grain and Cotton Indemnity Fund.

Louisiana HB370 amends the assessment rate on the value of all regulated agricultural commodities sold to grain dealers and cotton merchants. The bill increases the assessment rate from one twenty-fifth of one percent to two twenty-fifths of one percent. This change affects the Grain and Cotton Indemnity Fund, which is managed by the commission. The new rate applies to all agricultural commodities regulated under this chapter and sold to grain dealers and cotton merchants. The assessment is due and payable to the commission by the licensee at the first point of sale.