H.R. 1302: Growing Rural Agricultural Infrastructure Needs to Deliver Rising Yields Act

This bill, known as the Growing Rural Agricultural Infrastructure Needs to Deliver Rising Yields Act (or GRAIN DRY Act), aims to modify existing legislation concerning agricultural storage facilities. Specifically, it proposes to amend the Food, Conservation, and Energy Act of 2008 to include provisions for utilizing funds from a storage facility loan program for propane storage. Here are the key elements of the bill:

Key Provisions

• Update to Loan Program: The bill clarifies that funds from the storage facility loan program can be used by agricultural producers not only for general storage needs but also specifically for the construction or upgrading of storage facilities for propane. This propane must be primarily used in agricultural production.

Funding Purpose

The adjustments made by this bill would allow rural agricultural producers to access financial support for creating and improving propane storage systems, thereby potentially enhancing their operational efficiency and productivity. Propane is commonly used in agriculture for various purposes, including heating and fuel for equipment.

Implications for Agricultural Producers

• Increased Investment: Agricultural producers may have more opportunities to invest in infrastructure that supports the efficient use of propane.
• Enhanced Productivity: By facilitating better storage solutions, the bill aims to help farmers maintain the supply of propane required for their operations, which could lead to higher yields and improved operational efficiency.

Eligibility and Regulations

To qualify for the funding under the modified program, agricultural producers would need to comply with existing regulations that define agricultural production in the context of the loan program. This ensures that the funds are used appropriately to support agricultural activities.

Intent of the Legislation

The overarching goal of the GRAIN DRY Act is to bolster rural agricultural infrastructure, ultimately promoting agriculture's role in the economy and ensuring that producers are equipped to meet rising demands.

Relevant Companies

• CDE - Coeur Mining, Inc.: As a company involved in commodities, they may see indirect impacts if agricultural producers who utilize their services expand due to improved infrastructure.
• DOV - Dover Corporation: They provide equipment utilized in agricultural applications, which may experience increased demand with expanded propane storage capabilities.
• CF - CF Industries Holdings, Inc.: This company, which produces fertilizers that are essential for agricultural production, might benefit indirectly if farmers see increased yields as a result of better propane storage facilities.