PIERRE, S.D.(KCCR)- Three bills moving through the South Dakota legislature on protecting grain buyers and sellers have mostly gained approval by the Senate Ag and Natural Resources Committee. Senate Bills 35, 38 and 39 are brought by the South Dakota Public Utilities Commission which regulates the state’s grain warehouses. P-U-C Chairman Chris Nelson says S-B 35 would boost the penalty connected to grain transactions.
Nelson says states like Nebraska have far steeper fines for making illegal transactions.
Senate Bill 38 would make it illegal for a grain broker to knowingly set up an illegal transaction.
Senate Bills 35 and 39, which would cut the period for filing claims if a grain buyer license is revoked from six-months to 90-days passed the Committee unanimously. Senate Bill 38 would carry a Class Five felony. Action on S-B 38 was deferred as a prison impact statement for the bill was not available to the Committee.