POLICY 2024 ISA details its state priorities for this year. | BY JEFF HUTTON
W
hat happens at the Iowa Statehouse in 2024 will directly impact the livelihoods of Iowa soybean farmers. That’s why the Iowa Soybean Association (ISA) and its farmer-members are working proactively to ensure farmer fortunes aren’t left to legislators alone to determine what’s best for those out in the field. ISA Senior Director of Public Affairs Michael Dolch lays out the top state priorities — determined by farmers — in 2024.
Restore grain indemnity fund Modernizing Iowa’s Grain Indemnity Fund alongside the Iowa Department of Agriculture and Land Stewardship (IDALS) and other industry stakeholders continues to be a priority for the state’s 40,000 soybean farmers. The restoration of fees on grain sold to or deposited at Iowa-licensed grain dealers and warehouses was initiated in September 2023 following a series of dealer/warehouse bankruptcies. “Considering the fund was established in 1986 when the value of Iowa’s grain production was significantly less
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than today’s, ISA supports efforts to modernize the grain indemnity fund, which has proven incredibly successful at protecting Iowa farmers from catastrophic financial losses,” Dolch says. Currently, those who have grain stored in an IDALSlicensed warehouse and those who sell grain to a licensed dealer are covered by the fund. In a loss situation, the fund pays the claimant for 90% of the claimant’s loss up to a maximum of $300,000. Over the history of the fund, more than $19 million in claims have been approved to more than 1,500 grain producers, according to IDALS. The fund has generated approximately $9 million in assessed fees, which were last collected in 1989. Interest income, combined with the fund’s ability to recover losses from defunct grain dealers and warehouses, has provided additional revenue.
Educate on soybean checkoff Following the successful defense of an attack on commodity checkoff programs during the 2023 legislative session, ISA will continue efforts to protect the future of commodity checkoff programs that provide real, tangible
