For Immediate Release                                                                                                                                  

November 19, 2021         

                                                                                                                               

Contact: Kyle Wilmot

Kyle.Wilmot@isda.idaho.gov

Direct: 208-332-8500

 

Cessation of Seed Indemnity Fund Assessments

 

Boise, Idaho – Effective January 1, 2022, all licensed Idaho seed buyers currently withholding or deducting Seed Indemnity Fund (SIF) assessments from purchase payments or contract settlement payments to Idaho seed producers shall discontinue such withholdings and assessments.

 

The Idaho SIF had a balance of $11.7 million as of October 31, 2021. The SIF balance is expected to nearly reach the statutory maximum amount of $12 million by year’s end.

 

Licensed seed buyers will need to continue filing quarterly indemnity fund reports and species reports on a quarterly basis to report total gross dollars in purchases or contract settlements with Idaho seed producers.

 

Any purchase payments and final contract settlements made on or before December 31, 2021, will remain subject to SIF assessments and reporting requirements.

Questions or requests for additional information may be directed to Kyle Wilmot, Warehouse Control Bureau Chief at (208) 332-8612 or kyle.wilmot@agri.idaho.gov, or to Casey Thompson, Warehouse Control Ag Investigator, Sr. at (208) 332-8662 or casey.thompson@agri.idaho.gov.