Texas grain producers reject indemnity fund assessment

The Texas Department of Agriculture on Friday announced Texas grain producers have voted against the establishment of a producer assessment to self-insure against financial risks associated with selling or storing grain. TDA certified all the ballots, and the final results were 148 in favor of establishing the fund and 665 against. The referendum provided grain producers the opportunity to decide, through an impartial, electoral process, whether the risk of financial loss from placing grain on storage deposit with a grain warehouse warranted the establishment of an indemnity fund. In 2011, the Texas Legislature passed legislation to create the Texas Grain Producer Indemnity Board (TGPIB). TGPIB established policies surrounding the implementation of the program, and TDA was tasked by the Legislature to conduct the referendum.