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 purposes for which the commissioner can direct payments from the grain indemnity account, including valid claims, premium refunds, administrative expenses, legal fees, and payments to a trustee.

A significant addition to the law is the new provision that prohibits the transfer of money from the grain indemnity account unless the account balance exceeds $15,000,000. This insertion aims to ensure that the account maintains a sufficient balance before any funds can be moved, thereby enhancing the financial stability of the grain indemnity program.

Statutes affected:
Introduction: 223.24