Half-cent per bushel fee reinstated for agricultural commodity handlers

Agricultural commodity handlers are being notified that a ½ cent per bushel fee is being reinstated to increase funds in the Agricultural Commodity Depositors Fund.

Last year Gov. John Kasich signed Senate Bill 66 into law, establishing new minimum and maximum collection levels for the fund. The new minimum level increased from $8 million to $10 million, and the new maximum level rose from $10 million to $15 million. The new levels were deemed necessary because of recent record high grain prices and the increase in average handler size with respect to the number of bushels handled. The current balance of the fund is $8.5 million.

Ohio Revised Code 926.17(B) (2) now states that if the fund balance falls below $10 million, the director, with the consent of the Commodity Advisory Commission, may reinstate the collection of the ½ cent per bushel fee. The commodity advisory commission met Dec. 11 and unanimously passed a motion to reinstate collection of the fee. The director is required to notify all agricultural commodity handlers by certified mail, return receipt requested, to begin collecting the fee not later than 90 days after being notified.

Click Ag Commodity Depositors Fund to see the notification letter.