Iowa Corn Checkoff rate allows for incremental growth, only by farmer referendum
Posted on July 2, 2014 at 1:19 PM by Iowa Corn
On Wednesday, March 26, Governor Branstad signed HF 2427 into law. HF 2427 (*see specifics below) unanimously passed both the Iowa House and the Iowa Senate. The legislation only raises the legislative cap on the corn checkoff, allowing for incremental growth by farmer referendum. The legislation does not implement any changes to the current collection rate of one cent.
“Any decision regarding the checkoff rate would continue to be in the hands of Iowa corn farmers through a referendum, just as it was when created by the legislature in 1976 and voted on by farmers in 1977,” says Roger Zylstra, a farmer from Lynnville and current ICGA President.
* HF 2427 raises the legislative cap for the corn checkoff to a total of 3 cents, in the following manner: one additional cent (cap of 2 cents) available beginning 9/1/14 and a second cent (cap of 3 cents) available 5 years later, beginning 9/1/19. As a reminder, nothing in this bill raises the checkoff rate that the farmer pays; any increase in the checkoff ratemay only be made by farmer referendum.
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