Cooperatives - As enacted, provides for suspension of certain assessments against grain producers; revises other provisions regarding assessments and grain indemnity fund. - Amends TCA Title 43, Chapter 32, Part 2.
SB0877 has been assigned Public Chapter Number 69 by the Secretary of State.
  • Bill History
  • Amendments
  • Video
  • Summary
  • Fiscal Note
  • Votes
  • Actions For SB0877Date
    Pub. Ch. 69 04/28/2011
    Effective date(s) 04/12/1104/28/2011
    Signed by Governor.04/12/2011
    Transmitted to Gov. for action.03/31/2011
    Signed by H. Speaker03/31/2011
    Signed by S. Speaker03/30/2011
    Enrolled and ready for signatures03/29/2011
    Passed H., Ayes 95, Nays 1 03/28/2011
    Am. withdrawn.(Amendment 1 - HA0039)03/28/2011
    Subst. for comp. HB.03/28/2011
    Rcvd. from S., held on H. desk.03/28/2011
    Engrossed; ready for transmission to House03/24/2011
    Sponsor(s) Added.03/24/2011
    Passed S. as am., Ayes 33, Nays 003/24/2011
    S. adopted am.(Amendment 1 of 0 - SA0052)03/24/2011
    Placed on Senate Regular Calendar cal. for 3/24/201103/22/2011
    Rec. For Pass. ref. to: S. Cal. Comm.03/22/2011
    Placed on S. FW&M Comm. cal. for 3/22/201103/16/2011
    Ref. to S. F,W&M Comm. 03/10/2011
    Recalled from S. Cal. Comm. 03/10/2011
    Rec. for pass. w/ am., ref. to S. Cal. Comm. Ayes 9, Nays 0 PNV 0 03/09/2011
    Placed on S. S&L Govt. Comm. cal. for 3/8/201103/03/2011
    P2C, ref. to S. S&L Govt. Comm.02/17/2011
    Intro., P1C.02/16/2011
    Filed for intro.02/15/2011
    Actions For HB0689Date
    Comp. became Pub. Ch. 6904/28/2011
    Comp. SB subst. 03/28/2011
    Sponsor(s) Added.03/28/2011
    Sponsor(s) Added.03/24/2011
    H. Placed on Regular Calendar for 3/28/201103/24/2011
    Placed on cal. Calendar & Rules Committee for 3/24/201103/23/2011
    Rec. For Pass. ref. to: Calendar & Rules Committee03/22/2011
    Placed on cal. Finance, Ways & Means Committee for 3/22/201103/16/2011
    Rec. For Pass. by s/c ref. to Finance, Ways & Means Committee 03/16/2011
    Placed on s/c cal Finance Subcommittee for 3/16/201103/09/2011
    Assigned to s/c Finance Subcommittee03/09/2011
    Rec. for Pass. if Am. ref. to: Finance, Ways & Means Committee03/08/2011
    Placed on cal. Agriculture Committee for 3/8/201103/02/2011
    P2C, ref. to Agriculture Committee02/16/2011
    Intro., P1C.02/14/2011
    Filed for intro.02/11/2011
  • AmendmentsFiscal Memos
    SA0052Amendment 1-1 to SB0877Fiscal Memo for SA0052 (4569)  
    AmendmentsFiscal Memos
    HA0039Amendment 1-1 to HB0689Fiscal Memo for HA0039 (4569)  

    NOTE: Each fiscal memorandum applies only to the amendment(s) identified in the memorandum. The fiscal memorandum must be matched to any amendments that have been adopted.

  • Videos containing keyword: SB0877

  • Fiscal Summary

    Not Available


    Bill Summary

    ON MARCH 24, 2011, THE SENATE ADOPTED AMENDMENT #1 AND PASSED SENATE BILL 877, AS AMENDED.

    AMENDMENT #1 clarifies that new assessments against grain producers initiated after July 1, 2011, will continue when the balance of Tennessee grain indemnity fund is $10,000,000 and will be reinstated when the fund balance is less than $8,000,000. Present law authorizes grain producers, by referendum, to levy upon themselves an assessment of one cent per bushel on soybeans and one-half cent per bushel on all other grain, for the purpose of financing the Tennessee grain indemnity fund, which used to protect commodity producers in the event of the financial failure of a commodity dealer or warehouseman, and to ensure the existence of adequate funds so the commodity producers and claimants may be compensated for losses occasioned by the failure of a commodity dealer or warehouseman. Under present law, the assessment is suspended when the balance of the fund reaches $3,000,000.

    If the balance of the Tennessee grain indemnity fund increases as a result of this amendment, the maximum amount that a claimant may collect from the fund will be adjusted proportionately so that the maximum amount per claimant will be maintained at 3.333 percent of the fund's balance at the time of a failure of a commodity dealer. Under present law, any claimant against the grain indemnity fund who has incurred a financial loss due to a failure of a commodity dealer is entitled to be compensated for 85 percent of a valid claim, to a maximum of one $100,000 and any claimant who has incurred a financial loss due to the failure of a warehouseman and who has surrendered a warehouse receipt for payment or holds a warehouse receipt and cannot receive value is to be compensated for 100 percent of the claim.

    This amendment exempts commodity dealers who are incidental grain dealers, unsecured, from the Tennessee Commodity Producer Indemnity Law. Present law requires every commodity dealer or warehouseman required to be licensed by the department of agriculture to be subject to the Tennessee Commodity Producer Indemnity Law.

  • No fiscal note for this bill.
  • House Floor and Committee Votes

    House moved to substitute and conform to HB0689

    SB0877 by Gresham - FLOOR VOTE: PASSAGE ON THIRD CONSIDERATION 3/28/2011
    Passed
              Ayes...............................................95
              Noes................................................1

              Representatives voting aye were: Alexander, Armstrong, Bass, Brooks H, Brooks K, Brown, Butt, Campbell, Camper, Carr, Casada, Casada, Cobb, Coley, Cooper, Curtiss, Dean, DeBerry J, DeBerry L, Dennis, Dunn, Eldridge, Evans, Faison, Favors, Fitzhugh, Fitzhugh, Floyd, Ford, Forgety, Gilmore, Gotto, Halford, Hall, Hardaway, Harmon, Harrison, Harwell, Hawk, Hawk, Haynes, Hensley, Hill, Holt, Hurley, Johnson C, Johnson C, Johnson P, Jones S, Keisling, Kernell, Lollar, Maggart, Marsh, Matheny, Matlock, McCormick, McCormick, McDaniel, McDaniel, McDonald, McManus, Miller D, Miller L, Montgomery, Moore, Naifeh, Niceley, Odom, Parkinson, Pitts, Pody, Powers, Pruitt, Ragan, Ramsey, Rich, Richardson, Roach, Sanderson, Sargent, Sexton, Shaw, Shepard, Shipley, Sontany, Sparks, Stewart, Swann, Tidwell, Tindell, Todd, Towns, Turner J, Watson, Weaver, White, Williams K, Windle, Wirgau, Womick, Mr. Speaker Harwell, Mr. Speaker Naifeh, Mr. Speaker Williams K -- 95.
              Representatives voting no were: Turner M -- 1.

              HB0689 by Holt - HOUSE CALENDAR & RULES COMMITTEE:
    Recommended for passage - refer to: House Regular Calendar 1 3/24/2011
              Voice Vote - Ayes Prevail

              HB0689 by Holt - HOUSE FINANCE, WAYS & MEANS COMMITTEE:
    Recommended for passage - refer to: Calendar & Rules Committee 3/22/2011
              Voice Vote - Ayes Prevail

              HB0689 by Holt - HOUSE FINANCE, WAYS & MEANS SUBCOMMITTEE:
    Recommended for passage - refer to: Finance, Ways & Means Committee 3/16/2011
              Voice Vote - Ayes Prevail

              HB0689 by Holt - HOUSE AGRICULTURE AND NATURAL RESOURCES COMMITTEE:
    Recommended for passage w/amendments- refer to: Finance, Ways & Means Committee 3/8/2011
              Voice Vote - Ayes Prevail

    Senate Floor and Committee Votes

    SB0877 by Gresham - FLOOR VOTE: THIRD CONSIDERATION AMENDED 3/24/2011
    Passed
              Ayes...............................................33
              Noes................................................0

              Senators voting aye were: Barnes, Beavers, Bell, Berke, Burks, Campfield, Crowe, Faulk, Finney L, Ford, Gresham, Harper, Haynes, Henry, Herron, Johnson, Kelsey, Ketron, Kyle, Marrero, McNally, Norris, Overbey, Ramsey, Roberts, Southerland, Stewart, Summerville, Tate, Tracy, Watson, Woodson, Yager, Mr. Speaker McNally, Mr. Speaker Ramsey -- 33.

              SB0877 by Gresham - FLOOR VOTE: MOTION TO ADOPT AMEND# 1 BY Yager 3/24/2011
              VOICE VOTE: Failed

    SB0877 by Gresham - SENATE FINANCE, WAYS AND MEANS COMMITTEE:
    Recommended for passage - refer to: S. Cal. Comm. 3/22/2011
    Passed
              Ayes...............................................10
              Noes................................................0

              Senators voting aye were: Finney L, Haynes, Henry, Kelsey, Ketron, McNally, Norris, Overbey, Watson, Woodson, Mr. Speaker McNally -- 10.

    SB0877 by Gresham - SENATE STATE & LOCAL GOVERNMENT COMMITTEE:
    Recommended for passage w/amendments- refer to: S. Cal. Comm. 3/8/2011
    Passed
              Ayes................................................9
              Noes................................................0

              Senators voting aye were: Campfield, Faulk, Finney L, Harper, Haynes, Ketron, Norris, Tracy, Yager -- 9.