2005 Year in Review

Soybean Weekly Update

Source: Illinois Soybean Association; Illinois Soybean Checkoff Board; 1605 Commerce Parkway; Bloomington, Illinois 61704; (309) 663-7692 telephone; (309) 663-6981 fax; www.ilsoy.org

Energy Bill Closer to Vote - Last week the Senate invoked cloture – ending the debate on the Energy Bill (S.10) and moving the legislation toward a vote. Once it passes the Senate, the Energy Bill of 2005 (also referred to as EPAct) will move into Conference, where differences between the Senate and House versions will be reconciled. The Senate Bill includes an extension of the biodiesel tax incentive through December 31, 2010, tax incentives for farmer who wish to build biodiesel plants and tax incentives for fueling infrastructure for 20-percent blends at retail stations. It also includes an 8-billion gallon Renewable Fuels Standard by 2012.

Congressman Shimkus Wants Federal Agencies to Meet the Goals of the Energy Bill - Congressman John Shimkus (R-Collinsville) pointed out in a statement delivered on the House floor last week that federal agencies are not meeting their energy-saving goals that were part of the Energy Policy Act of 1992. Shimkus is also requesting that language be added to the House version of the 2005 Energy Bill to encourage agencies to do a better job at meeting the requirements set forth by Congress to help reduce dependence on foreign oil. When Congress passed the Energy Policy Act of 1992, there was a requirement that 75% of vehicles purchased by federal agencies be alternative fuel vehicles. Shimkus pointed out that the Department of Labor had the worst record for complying with the Act – only reaching 19% of the goal. Of the 5.3 million gallons of fuel purchased by the Department last year, only 5,000 gallons was E85 and only 200 gallons were biodiesel.

Election Reminder - Growers still have time to request an absentee ballot if they will be out of their home district for the July 7 Checkoff election. The ballot must be returned to the Illinois Department of Agriculture by 5:00 p.m. on Tuesday, July 5. For those producers who will be home on July 7, the following six districts will be holding elections at their respective County Extension offices:
District 1: Boone, Carroll, DeKalb, Jo Daviess, Lee, Ogle, Stephenson and Winnebago
District 5: Fulton, Knox, Marshall, Peoria, Putnam and Tazewell
District 7: Ford, Iroquois and Vermilion
District 9: Cass, Logan, Mason, Menard, Morgan and Sangamon
District 12: Calhoun, Greene, Jersey, Macoupin, Pike and Scott
District 13: Bond, Fayette, Marion and Montgomery

WRDA Moves Out of House Committee - Authorization to modernize locks on the Upper Mississippi and Illinois Rivers moves to debate on the House floor, following last week’s approval of the Water Resources Development Act (WRDA), H.R. 2864, by the House Transportation and Infrastructure Committee. House debate is expected sometime this week on the legislation that includes a $3.3 billion funding authorization for lock expansion. Of that, $1.58 billion would be earmarked for ecosystem restoration on the Upper Mississippi River. WRDA authorization is expected to be renewed every two years, however, failure to come to agreements on several proposals for U.S. Army Corps of Engineers reform and environmental resources included in the legislation resulted in tremendous opposition and halted the approval process in 2002, 2003 and 2004. WRDA has not been renewed since 2000. Senate floor action is expected to take place later this summer.

Governor Signs Bill to Joins Association and Checkoff Boards - Under legislation signed last week by Governor Blagojevich, the Illinois Soybean Association (ISA) and Illinois Soybean Checkoff Board (ISCB) will soon be served by one Board of Directors. The goal is to allow one, new board to streamline and better integrate related activities while keeping funding strictly segregated. Currently, the two boards have a total of 37 members, 19 represent ISA and 18 represent ISCB. The new board will have one member from each of 18 geographic districts and six members elected at large. The group will operate as the Illinois Soybean Association. The transition begins with the first official meeting on August 1st and the seating of the new board from the 18 districts. At-large directors will not be seated until January 31, 2006.

by  Editor, theCity1.com
July 6, 2005