This bill amends Minnesota Statutes 2024, section 223.24, subdivision 2, to modify the use of the grain indemnity account. It specifies that the funds in the account, including interest, are appropriated to the commissioner for the payment of valid claims and the administration of the section. The bill outlines the permissible uses of the grain indemnity account, which include paying valid claims, grain indemnity premium refunds, administrative expenses, legal fees, and payments to appointed trustees.

A significant addition to the law is the insertion of a new provision that prohibits the transfer of money from the grain indemnity account unless the account balance exceeds $15,000,000. This change aims to ensure that the account maintains a sufficient balance to cover claims and related expenses before any funds can be transferred out. Overall, the bill seeks to enhance the management and stability of the grain indemnity account in Minnesota.

Statutes affected:
Introduction: 223.24