Producer protection.

WORKING DRAFT
2009
STATE OF
WYOMING
09LSO-0280

SENATE FILE
NO.
SF0109

Producer
p
rotection
.

Sponsored by:
Senator(s) Meier and Representative(s) Buchanan, Childers, Harshman and Teeters

A BILL

for

AN ACT relating to
agricultural producer's liens; providing that a processor includes a person who produces ethanol from farm products; prohibiting an ethanol producer from receiving certain tax credits if the producer has an outstanding lien;
and providing for an effective date.

Be It Enacted by the Legislature of the State of
Wyoming
:

Section 1.

W.S. 29
‑
8
‑
101(a)(v), 29
‑
8
‑
104
(a)(iii) and
by creating a new subsection (c) and 39
‑
17
‑
109(d)(i)
(intro)
are amended to read:

29
‑
8
‑
101.

Definitions.

(a)

As used in this article:

(v)

"Processor" means any person engaged in the business of processing or manufacturing any farm product and who takes possession or control of any farm product for the purpose of processing, cleaning, selling or storing it
and includes, without limitation, a person who produces ethanol from corn or other farm products
;

29
‑
8
‑
104.

Extent of lien; priority; tax credits for ethanol.

(a)

The lien shall be to the extent of:

(iii)

If the farm product is sold or processed by the processor, contractor, warehouse operator or commodity dealer the lien shall be on the cash proceeds from the sale

and any tax credit issued pursuant to W.S. 39
‑
17
‑
109(d)
. For purposes of this paragraph, cash proceeds held by the processor, contractor, warehouse operator or commodity dealer shall be deemed to be cash proceeds from the sale regardless of whether it is identifiable cash proceeds;

(c)

If a producer has an
outstanding
lien pursuant to this
act which
has attached to a processor who produces ethanol from farm products, the
processor
shall not be eligible to receive the tax credit provided in W.S. 39
‑
17
‑
109(d) until the producer
is paid in full all amounts due the producer for its assignment, sale, transfer, exchange, other disposition or production of the farm products.

The tax credit provided in W.S. 39
‑
17
‑
109(d) shall be tolled and may be issued to the processor after a producer has been paid in full as provided in this section.

39
‑
17
‑
109.

Taxpayer remedies.

(d)

Credits. The following shall apply:

(i)

Except as provided in W.S. 29
‑
8
‑
104(c),
t
he department shall grant a credit to producers of ethanol in the amount of forty cents ($.40) per gallon of ethanol produced in Wyoming provided the producer submits a report to the department in a format required by the department containing information which will assist the department in determining:

Section 2.

This act is effective July 1, 2009.

(END)

1
SF0109