A bill for an act regulating the marketing of grain, making penalties applicable, and including effective date provisions.

This bill requires Iowa grain dealers and warehouse operators to submit annual financial statements accompanied by an unqualified audit opinion from a licensed Iowa accountant. It allows flexibility by accepting qualified audits or review reports under specific conditions, but limits the state department to requesting no more than one full audit per year. The bill also establishes procedures for filing claims after license termination and managing liens on grain deposits. These requirements directly affect businesses handling grain sales and storage in Iowa, aiming to improve financial transparency.