Committee approves bill easing financial-reporting rules for small grain buyers after testimony from feed‑mill owners

The House Agriculture Finance and Policy Committee voted to re‑refer House File 1063 to the General Register after hearing testimony from Department of Agriculture staff and small‑business owners who said current financial‑reporting requirements for grain buyers had forced some small operators to give up licenses.

What the bill would do: HF1063 would change the financial-reporting requirements for entities licensed as grain buyers. Under the bill’s framework discussed in committee, smaller buyers would be allowed to submit less‑expensive forms of financial statements (for example, compilations or tax‑basis statements) instead of requiring a CPA-performed review or audit. The department said the tiered approach is intended to preserve oversight while reducing costs for very small buyers.

Why p…