Orange County Breeze
News of Northwest Orange County, CA





Business

September 15, 2012

Harman successful in shepherding change to dairy law

More articles by »
Written by: courtesy
Tags: , , , ,
Printer-friendly version of this post Printer-friendly version of this post
dairy farm

The following information was released by the office of State Senator Tom Harman (R-CA-35).

Senator Tom Harman (R-Huntington Beach) announced that Senate Bill 592, a measure to clarify ambiguities and remove some impediments in the California Dairy Lien law, has been signed into law.

“California’s Dairy industry has been struggling incredibly since 2008,” said Harman. “The economic trauma to the entire industry has drawn attention to the ambiguities in the Dairy Lien process. This bill represented almost two years of negotiations with industry, feed providers, banks and other stakeholders to come up with a process that clarifies the lien process. I am pleased the Governor has signed it into law.”

California Dairy industry has been in crisis for nearly 24 months. This crisis has brought industry stakeholders to review practices including how grain and feed suppliers provide credit to dairy farmers as well as other livestock producers. The Dairy Feed Lien law had not been amended since it was placed in statute 22 years ago.

The California dairy industry has lost $2 billion in equity since the collapse of the market in the fall of 2008. Many feed suppliers maintained service to dairies as long as it has been viable, but have also had significant capital losses during this time. As some dairies have become “distressed assets” or even filed for bankruptcies, this little known dairy lien law became recognized – with various applications.

California Grain and Feed Association undertook a significant process of analyzing and reviewing the law and its deficiencies, as well as industry business practices to better understand what had gone wrong and what could be adjusted. Several technical and substantive elements of the lien law were identified and corrected in this bill.

SB 592 was sponsored by California Grain and Feed Association.

Featured photo

Enhanced by Zemanta


About the Author

courtesy
This author is used when OC Breeze publishes news releases from other organizations.




Subscribe to our daily morning email news update!
 
 

 
weather icon, sunny

Today’s weather forecast for Thursday in the Octave of Easter, April 24

Today’s local weather forecast: Mostly sunny, with a high near 77. Light and variable wind becoming southwest 5 to 10 mph in the afternoon. Winds could gust as high as 20 mph.
by courtesy
0

 
 
Cypress College

State Senator Huff to host Education Summit at Cypress College

Senate Republican Leader Bob Huff (R-Diamond Bar) will host an Education Summit on Thursday, May 1st at the Cypress College Campus. The Summit, which will feature a number of dynamic speakers, will focus on a new and exciting a...
by courtesy
0

 
 
drugs, medicines, capsules

LBPD teams with Memorial for National Drug Take-Back Day

The Long Beach Police Department will once again join forces with Long Beach Memorial to participate in the Drug Enforcement Administration’s (DEA) National Pharmaceutical Take-Back initiative, along with several other la...
by courtesy
0

 

Subscribe to our daily overnight news summary!

 
seal of the Orange County Sheriff-Coroner

Man found dead outside Westminster house being fumigated

According to the Orange County Coroner, a man was found dead on the patio of a home in the 14000 block of Monroe Ln. in Westminster at 4:30 p.m. on Tuesday, April 22. The building was being fumigated at the time. The Coroner ha...
by courtesy
1

 
 
weather icon, sunny

Today’s weather forecast for Wednesday in the Octave of Easter, April 23

Today’s local weather forecast: Mostly sunny, with a high near 75. Light and variable wind becoming southwest 5 to 10 mph in the afternoon.
by courtesy
0