IA HSB745

Amends Iowa Code Section 203.3 to modify financial statement requirements for grain dealers, allowing the department to accept qualified audit opinions or CPA review reports in lieu of unqualified audit opinions for dealers who do not purchase grain by credit-sale contract.

Limits the department to requiring no more than one unqualified audit opinion per year from grain dealers, though additional financial statements may be required to verify financial status or compliance.

Revises the definition of "delivery" in Section 203.8 to clarify when title and possession of grain transfers from a seller to a grain dealer or another person under an agreement.

Makes existing penalties under Iowa's grain marketing regulations applicable to violations of the amended provisions.