Bill Text: IL HB4327 | 2011-2012 | 97th General Assembly | Introduced

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Bill Title: Amends the Grain Code. Makes a technical change in a Section concerning the purpose of the Code.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2013-01-08 - Session Sine Die [HB4327 Detail]

Download: Illinois-2011-HB4327-Introduced.html

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97TH GENERAL ASSEMBLY State of Illinois 2011 and 2012 HB4327 Introduced , by Rep. Michael J. Madigan SYNOPSIS AS INTRODUCED:
240 ILCS 40/1-5
Amends the Grain Code. Makes a technical change in a Section concerning the purpose of the Code.
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A BILL FOR
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AN ACT concerning warehouses.
Be it enacted by the People of the State of Illinois,
represented in the General Assembly:
Section 5. The Grain Code is amended by changing Section
1-5 as follows:
(240 ILCS 40/1-5)
Sec. 1-5. Purpose. It is the the primary purpose of this
Code to promote the State's welfare by improving the economic
stability of agriculture through the existence of the Illinois
Grain Insurance Fund in order to protect producers in the event
of the failure of a licensed grain dealer or licensed
warehouseman and to ensure the existence of an adequate
resource so that persons holding valid claims may be
compensated for losses occasioned by the failure of a licensed
grain dealer or licensed warehouseman. To that end, this Code
shall be liberally construed and liberally administered in
favor of claimants.
In addition, the Illinois grain industry comprises a
significant and vital part of the State's economy and as such
can function to its fullest competitive and profitable
potential, thus contributing to the economic health of this
State, when it operates under a coordinated and integrated
regulatory structure. Thus, a further purpose of this Code is

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to provide a single system of governmental regulation of the
Illinois grain industry.
(Source: P.A. 93-225, eff. 7-21-03.)