AB717, s. 24 16Section 24. 126.15 (6) of the statutes is amended to read:
AB717,11,2017 126.15 (6) Deferred payment assessment rate. A grain dealer's deferred
18payment assessment rate is 0.0035, except that it is 0.002 for the grain dealer's 5th
19or higher consecutive full license year as a contributing grain dealer
unless the
20department specifies a different rate by rule
.
AB717, s. 25 21Section 25. 126.16 (1) (b) (intro.) and 2. of the statutes are consolidated,
22renumbered 126.16 (1) (b) and amended to read:
AB717,12,623 126.16 (1) (b) A grain dealer who reports any deferred payment contract
24obligations under s. 126.11 (9) (c) or 126.13 (1) (d), other than deferred payment
25contract obligations to a grain producer or producer agent who permanently waived

1eligibility to file a default claim under s. 126.70 (1) (b) and (c),
shall file security with
2the department, and maintain that security until the department releases it under
3sub. (8) (b), unless the grain dealer has positive equity and one of the following
4applies: 2. The
the grain dealer's annual financial statement under s. 126.13 covers
5a fiscal year ending after January 1, 2006, and
(1) shows a debt to equity ratio of not
6more than 4.0 to 1.0.
AB717, s. 26 7Section 26. 126.16 (1) (b) 1. of the statutes is repealed.
AB717, s. 27 8Section 27. 126.16 (1) (c) 2. (intro.) of the statutes is renumbered 126.16 (1)
9(c) 2. and amended to read:
AB717,12,1510 126.16 (1) (c) 2. A grain dealer shall file security with the department, and
11maintain that security until the department releases it under sub. (8) (bm), if the
12grain dealer files an annual financial statement under s. 126.13 (1) that shows
13negative equity, a current ratio of less than 1.25 to 1.0, or a debt to equity ratio of more
14than 4.0 to 1.0 and the grain dealer's estimated default exposure is greater than the
15following amount:
$20,000,000.
AB717, s. 28 16Section 28. 126.16 (1) (c) 2. a. to c. of the statutes are repealed.
AB717, s. 29 17Section 29. 126.16 (2) of the statutes is repealed.
AB717, s. 30 18Section 30. 126.16 (3) (b) (intro.) and 3. of the statutes are consolidated,
19renumbered 126.16 (3) (b) and amended to read:
AB717,12,2320 126.16 (3) (b) A grain dealer who is only required to file or maintain security
21only under sub. (1) (c) shall at all times maintain security equal to the grain dealer's
22estimated default exposure, as defined in sub. (1) (c) 1., less the following amount:
233. For a license year that begins on September 1, 2005, or later,
$20,000,000.
AB717, s. 31 24Section 31. 126.16 (3) (b) 1. and 2. of the statutes are repealed.
AB717, s. 32 25Section 32. 126.16 (4) (e) of the statutes is repealed.
AB717, s. 33
1Section 33. 126.16 (8) (c) of the statutes is repealed.
AB717, s. 34 2Section 34. 126.17 (3) (a) (intro.) of the statutes is renumbered 126.17 (3) (a)
3and amended to read:
AB717,13,64 126.17 (3) (a) A grain dealer shall keep copies of all of the following records
5required under this section and s. 126.18 (2) for at least 6 years after the records are
6created:.
AB717, s. 35 7Section 35. 126.17 (3) (a) 1. and 2. of the statutes are repealed.
AB717, s. 36 8Section 36. 126.19 (4) of the statutes is renumbered 126.19 (4) (a) and
9amended to read:
AB717,13,1910 126.19 (4) (a) A grain dealer may not enter into a deferred payment contract
11with a grain producer or producer agent unless the deferred payment contract clearly
12discloses that it is not a storage contract. Whenever a grain dealer buys grain from
13a grain producer under a deferred payment contract, the grain dealer shall include

14includes the following statement in capitalized, boldface clear and conspicuous print
15immediately above the contract signature line: "This is not a storage contract. The
16grain dealer (buyer) becomes the owner of any grain that the producer or producer
17agent
(seller) delivers to the grain dealer under this contract. The producer or
18producer agent
relinquishes ownership and control of the grain, and becomes may
19become
an unsecured creditor pending payment."
AB717, s. 37 20Section 37. 126.19 (4) (b) of the statutes is created to read:
AB717,14,221 126.19 (4) (b) A grain dealer may not enter into a deferred payment contract
22under which a grain producer or producer agent agrees to receive payment for grain
23more than 120 days after delivering the grain to the grain dealer unless the deferred
24payment contract clearly and conspicuously discloses that if the grain dealer
25defaults on payment under the deferred payment contract, any claim filed by the

1producer or producer agent with the department under s. 126.70 will be disallowed.
2The department may by rule or order specify the form and content of the disclosure.
AB717, s. 38 3Section 38. 126.20 (4) (intro.) and (a) of the statutes are amended to read:
AB717,14,54 126.20 (4) Prohibited practices. (intro.) No grain dealer, or officer, employee,
5or agent of a grain dealer,
may do any of the following:
AB717,14,76 (a) Misrepresent the weight, grade, or quality of producer grain received from
7or delivered to any person.
AB717, s. 39 8Section 39. 126.20 (4) (g) of the statutes is created to read:
AB717,14,109 126.20 (4) (g) Assault, threaten, intimidate, or otherwise interfere with an
10officer, employee, or agent of the department in the performance of his or her duties.
AB717, s. 40 11Section 40. 126.26 (3) (intro.) and (a) of the statutes are amended to read:
AB717,14,1412 126.26 (3) License fees and surcharges. (intro.) A person applying for a grain
13warehouse keeper license shall pay the following fees and surcharges , unless in the
14amounts that
the department specifies a different fee or surcharge amount by rule:
AB717,14,2015 (a) A nonrefundable basic license processing fee of $25 plus $25 for each grain
16warehouse identified under sub. (2) (d). If a grain warehouse keeper operates 2 or
17more grain warehouses located within 0.5 mile of each other, the grain warehouse
18keeper may treat those grain warehouses as a single grain warehouse for purposes
19of this paragraph and par. (c)
fee, which may be based on the number of grain
20warehouses that the applicant operates
.
AB717, s. 41 21Section 41. 126.26 (3) (b) of the statutes is repealed and recreated to read:
AB717,14,2322 126.26 (3) (b) A grain warehouse inspection fee, which may be based on the
23number and sizes of the grain warehouses that the applicant operates.
AB717, s. 42 24Section 42. 126.26 (3) (c) to (f) of the statutes are amended to read:
AB717,15,2
1126.26 (3) (c) A supplementary inspection fee of $275 for each grain warehouse
2that the applicant operates in excess of one grain warehouse.
AB717,15,73 (d) A license surcharge of $500 if the department determines that, within 365
4days before submitting the license application, the applicant operated as a grain
5warehouse keeper without a license in violation of sub. (1). The applicant shall also
6pay any license fees, license surcharges, and fund assessments that are still due for
7the license year in which the applicant violated sub. (1).
AB717,15,108 (e) A license surcharge of $100 if during the preceding 12 months the applicant
9failed to file an annual financial statement required under s. 126.28 (1) (b) by the
10applicable deadline.
AB717,15,1211 (f) A license surcharge of $100 if a renewal applicant fails to renew a license
12by the license expiration date of August 31.
AB717, s. 43 13Section 43. 126.26 (3m) of the statutes is amended to read:
AB717,15,1714 126.26 (3m) Effect of payment of surcharge. Payment of a license surcharge
15under sub. (3) (d) does not relieve the applicant of any other civil or criminal liability
16that results from the violation of sub. (1), but does not constitute evidence of any law
17violation.
AB717, s. 44 18Section 44. 126.26 (5) of the statutes is amended to read:
AB717,16,219 126.26 (5) Fee credit. If the fund balance contributed by grain warehouse
20keepers exceeds $300,000 on June 30 May 31 of any license year, the department
21shall credit 12.5% of the excess amount against grain warehouse inspection fees
22charged under sub. (3) (b) to contributing grain warehouse keepers who file timely
23license renewal applications for the next license year. The department shall credit
24each contributing grain warehouse keeper on a prorated basis, in proportion to the

1total inspection fees that the warehouse keeper has paid under sub. (3) (b) for the 4
2preceding license years.
AB717, s. 45 3Section 45. 126.28 (3) of the statutes is repealed and recreated to read:
AB717,16,94 126.28 (3) Reviewed or audited financial statement. A grain warehouse
5keeper filing a financial statement under sub. (1) or (2) may file either a reviewed
6financial statement or an audited financial statement, except that if the grain
7warehouse keeper operates grain warehouses with a combined capacity of more than
81,500,000 bushels, the grain warehouse keeper shall file an audited financial
9statement.
AB717, s. 46 10Section 46. 126.31 (1) (b) 2. (intro.) of the statutes is renumbered 126.31 (1)
11(b) 2. and amended to read:
AB717,16,1712 126.31 (1) (b) 2. A grain warehouse keeper shall file security with the
13department, and maintain that security until the department releases it under sub.
14(8) (am), if the grain warehouse keeper files an annual financial statement under s.
15126.28 (1) that shows negative equity, a current ratio of less than 1.25 to 1.0, or a debt
16to equity ratio of more than 4.0 to 1.0 and the grain warehouse keeper's estimated
17default exposure is greater than the following amount: $20,000,000.
AB717, s. 47 18Section 47. 126.31 (1) (b) 2. a. to c. of the statutes are repealed.
AB717, s. 48 19Section 48. 126.31 (2) of the statutes is repealed.
AB717, s. 49 20Section 49. 126.31 (3) (b) (intro.) and 3. of the statutes are consolidated,
21renumbered 126.31 (3) (b) and amended to read:
AB717,17,222 126.31 (3) (b) A grain warehouse keeper who is only required to file or maintain
23security only under sub. (1) (b) shall at all times maintain security equal to the grain
24warehouse keeper's estimated default exposure, as defined in sub. (1) (b) 1., less the

1following amount: 3. For a license year that begins on September 1, 2005, or later,

2$20,000,000.
AB717, s. 50 3Section 50. 126.31 (3) (b) 1. and 2. of the statutes are repealed.
AB717, s. 51 4Section 51. 126.31 (4) (e) of the statutes is repealed.
AB717, s. 52 5Section 52. 126.31 (8) (b) of the statutes is repealed.
AB717, s. 53 6Section 53. 126.32 (5) (a) (intro.) of the statutes is renumbered 126.32 (5) (a)
7and amended to read:
AB717,17,108 126.32 (5) (a) A grain warehouse keeper shall retain all of the following records
9required under this section and s. 126.33 (3) for at least 6 years from the date of their
10creation:.
AB717, s. 54 11Section 54. 126.32 (5) (a) 1. and 2. of the statutes are repealed.
AB717, s. 55 12Section 55. 126.34 (5) (intro.) and (a) of the statutes are amended to read:
AB717,17,1413 126.34 (5) Prohibited practices. (intro.) No grain warehouse keeper, or officer,
14employee, or agent of a grain warehouse keeper,
may do any of the following:
AB717,17,1615 (a) Misrepresent the weight, grade, or quality of depositor grain received from
16or delivered to any person.
AB717, s. 56 17Section 56. 126.34 (5) (g) of the statutes is created to read:
AB717,17,1918 126.34 (5) (g) Assault, threaten, intimidate, or otherwise interfere with an
19officer, employee, or agent of the department in the performance of his or her duties.
AB717, s. 57 20Section 57. 126.40 (1) of the statutes is renumbered 126.40 (1) (intro.) and
21amended to read:
AB717,18,222 126.40 (1) (intro.) "Contributing milk contractor" means a milk contractor who
23is licensed under s. 126.41 (1), who either has paid one or more quarterly
24installments under s. 126.46 or is required to contribute to the fund, but the first

1quarterly installment under s. 126.46 (6) is not yet due, and
who is has not been
2disqualified from the fund under s. 126.45 (3)., and who either:
AB717, s. 58 3Section 58. 126.40 (1) (a) and (b) of the statutes are created to read:
AB717,18,44 126.40 (1) (a) Has paid one or more fund assessments under s. 126.46.
AB717,18,65 (b) Is required to contribute to the fund but the first fund assessment under s.
6126.46 (6) is not yet due.
AB717, s. 59 7Section 59. 126.41 (3) (intro.) and (a) of the statutes are amended to read:
AB717,18,118 126.41 (3) Annual license fees and surcharges. (intro.) A milk contractor
9applying for a an annual license under sub. (1) shall include the following fees and
10surcharges with the license application, unless the department specifies a different
11fee or surcharge amount by rule:
AB717,18,1312 (a) A nonrefundable basic license processing fee of $25, regardless of whether
13application is made after the beginning of a license year
.
AB717, s. 60 14Section 60. 126.41 (6) (a) of the statutes is amended to read:
AB717,18,2015 126.41 (6) (a) The total milk payroll obligations that the applicant incurred
16during the applicant's last completed fiscal year, less the total amount reported
17under par. (br) 3., if any
. If the applicant has not yet operated as a milk contractor
18in this state, the applicant shall estimate the total milk payroll obligations that the
19applicant will incur during the applicant's first complete fiscal year, less the total
20amount reported under par. (br) 3., if any
.
AB717, s. 61 21Section 61. 126.41 (6) (b) (intro.) of the statutes is created to read:
AB717,18,2222 126.41 (6) (b) (intro.) Either of the following amounts:
AB717, s. 62 23Section 62. 126.41 (6) (b) of the statutes is renumbered 126.41 (6) (b) 1. and
24amended to read:
AB717,19,3
1126.41 (6) (b) 1. The largest highest amount of unpaid milk payroll obligations
2that the milk contractor applicant had at any time during the milk contractor's
3applicant's last completed fiscal year.
AB717, s. 63 4Section 63. 126.41 (6) (b) 2. of the statutes is created to read:
AB717,19,75 126.41 (6) (b) 2. The highest amount of milk payroll obligations that the
6applicant incurred in any single month during the applicant's last completed fiscal
7year.
AB717, s. 64 8Section 64. 126.41 (6) (bg) of the statutes is created to read:
AB717,19,159 126.41 (6) (bg) The total amount in hundredweight of producer milk that the
10applicant procured in this state during the applicant's last completed fiscal year, less
11the total amount reported under par. (br) 2., if any. If the applicant has not yet
12operated as a milk contractor in this state, the applicant shall estimate the total
13amount in hundredweight of producer milk that the applicant will procure in this
14state during the applicant's first complete fiscal year, less the total amount reported
15under par. (br) 2., if any.
AB717, s. 65 16Section 65. 126.41 (6) (br) of the statutes is created to read:
AB717,19,1917 126.41 (6) (br) All of the following information related to each milk producer
18or producer agent that under s. 126.70 (1) (b) has permanently waived eligibility to
19file a default claim against the applicant:
AB717,19,2120 1. A copy of the written waiver that the milk producer or producer agent filed
21under s. 126.70 (1) (c).
AB717,20,222 2. The total amount in hundredweight of producer milk that the applicant
23procured in this state from that milk producer or producer agent during the
24applicant's last completed fiscal year. If the applicant has not yet operated as a milk
25contractor in this state, the applicant shall estimate the total amount in

1hundredweight of producer milk that the applicant will procure in this state from
2that milk producer or producer agent during the applicant's first complete fiscal year.
AB717,20,93 3. The total milk payroll obligations that the applicant incurred during the
4applicant's last completed fiscal year for producer milk that the applicant procured
5from that milk producer or producer agent. If the applicant has not yet operated as
6a milk contractor in this state, the applicant shall estimate the total milk payroll
7obligations that the applicant will incur during the applicant's first complete fiscal
8year for producer milk that the applicant will procure from that milk producer or
9producer agent.
AB717, s. 66 10Section 66. 126.41 (9) of the statutes is repealed and recreated to read:
AB717,20,1211 126.41 (9) A milk contractor who files and maintains security under s. 126.47
12shall provide a monthly report to the department containing either of the following:
AB717,20,1413 (a) The highest amount of the milk contractor's unpaid milk payroll obligations
14at any time during the preceding month.
AB717,20,1615 (b) The total amount of milk payroll obligations that the milk contractor
16incurred during the preceding month.
AB717, s. 67 17Section 67. 126.42 (6) of the statutes is amended to read:
AB717,20,1918 126.42 (6) Fee changes. The department may modify the license fees under
19sub. (1) by rule, as provided under s. 126.81 (2).
AB717, s. 68 20Section 68. 126.44 (1) (a) of the statutes is amended to read:
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