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| | 104TH GENERAL ASSEMBLY
State of Illinois
2025 and 2026
HB2208 Introduced 2/4/2025, by Rep. Tony M. McCombie SYNOPSIS AS INTRODUCED:
| | | Amends the Grain Code. Makes a technical change in a Section concerning the purpose of the Code. |
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| | A BILL FOR |
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| | HB2208 | | LRB104 11678 RPS 21767 b |
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| 1 | | AN ACT concerning warehouses.
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| 2 | | Be it enacted by the People of the State of Illinois, |
| 3 | | represented in the General Assembly:
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| 4 | | Section 5. The Grain Code is amended by changing Section |
| 5 | | 1-5 as follows:
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| 6 | | (240 ILCS 40/1-5) |
| 7 | | Sec. 1-5. Purpose. It is the the primary purpose of this |
| 8 | | Code to promote the State's welfare by improving the economic |
| 9 | | stability of agriculture through the existence of the Illinois |
| 10 | | Grain Insurance Fund in order to protect producers in the |
| 11 | | event of the failure of a licensed grain dealer or licensed |
| 12 | | warehouseman and to ensure the existence of an adequate |
| 13 | | resource so that persons holding valid claims may be |
| 14 | | compensated for losses occasioned by the failure of a licensed |
| 15 | | grain dealer or licensed warehouseman. To that end, this Code |
| 16 | | shall be liberally construed and liberally administered in |
| 17 | | favor of claimants. |
| 18 | | In addition, the Illinois grain industry comprises a |
| 19 | | significant and vital part of the State's economy and as such |
| 20 | | can function to its fullest competitive and profitable |
| 21 | | potential, thus contributing to the economic health of this |
| 22 | | State, when it operates under a coordinated and integrated |
| 23 | | regulatory structure. Thus, a further purpose of this Code is |