Mississippi Grain Indemnity Act; enact.

HB 1647 establishes the "Mississippi Grain Indemnity Act" to create a state-administered fund compensating grain producers when licensed grain buyers fail to pay for sold grain. It requires producers to pay an annual assessment on marketed grain (collected by licensed buyers from the purchase price), with producers able to opt out by June 1 each year - but opting out disqualifies them from receiving compensation for buyer failures. The Mississippi Grain Indemnity Board administers the fund, processes claims for "contract losses" (unpaid grain sales) or "storage losses," and makes payments proportionally if funds are insufficient. Producers who remain in the program must pay assessments to maintain eligibility for compensation.