IL SB2417

Amends Section 1-25 of the Grain Code (240 ILCS 40/1-25) concerning the Department's rulemaking authority.

Makes a technical correction to the opening language of the Rules section by changing "The" to "The" (correcting grammatical consistency).

Authorizes the Department to adopt rules governing electronic warehouse receipt systems after the U.S. Department of Agriculture adopts related regulations under 7 U.S.C. 242, 250.

Authorizes the Department to adopt rules governing electronic price later contracts, with use remaining optional for licensees and producers.