Bill Text: IL SB0502 | 2017-2018 | 100th General Assembly | Introduced

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Bill Title: Amends the Grain Code. Makes a technical change in a Section concerning rules adopted to implement the Code.

Spectrum: Partisan Bill (Democrat 1-0)

Status: (Failed) 2019-01-09 - Session Sine Die [SB0502 Detail]

Download: Illinois-2017-SB0502-Introduced.html

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100TH GENERAL ASSEMBLY State of Illinois 2017 and 2018 SB0502 Introduced 1/24/2017, by Sen. John J. Cullerton SYNOPSIS AS INTRODUCED:
240 ILCS 40/1-25
Amends the Grain Code. Makes a technical change in a Section concerning rules adopted to implement the Code.
LRB100 05222 RPS 15232 b
A BILL FOR
SB0502 LRB100 05222 RPS 15232 b
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
1-25 as follows:
(240 ILCS 40/1-25)
Sec. 1-25. Rules. The The Department may promulgate rules
that are necessary for the implementation and administration of
this Code.
(a) The Department shall adopt rules governing electronic
systems under which electronic warehouse receipts are issued
and transferred. Licensees shall not be required, however, to
issue or use electronic warehouse receipts. These rules shall
be adopted after the United States Department of Agriculture
adopts regulations concerning an electronic receipt transfer
system pursuant to 7 U.S.C. 242, 250.
(b) The Department shall adopt rules governing electronic
price later contracts. Licensees and producers shall not be
required, however, to issue or use electronic price later
contracts.
(Source: P.A. 96-464, eff. 8-14-09.)