MI SB1396

Establishes specific license fees for grain dealers based on receiving point bushel capacity, ranging from $150 for 100,000 bushels or less to $450 for more than 400,000 bushels

Sets license fees for farm produce truckers at $200 for the first vehicle and $100 for each additional vehicle, and $450 for grain merchandiser licenses

Creates the grain dealer's fees fund to receive all license fees and administrative fines, with remaining funds after appropriated expenses staying in the fund rather than reverting to the general fund

Authorizes the department to adjust fees annually by up to 5% based on the Detroit consumer price index, rounded to the nearest $5.00 increment

Exempts grain dealers with an audited financial statement showing a current asset to current liability ratio of at least 1.2 to 1 and an equity ratio of 0.25 or greater from bonding requirements