SPRINGFIELD, Ill. – Illinois corn producers voted in favor of increasing the corn checkoff rate established in the Illinois Corn Marketing Act in a referendum held March 29, 2007, according to Illinois Agriculture Director Chuck Hartke.
The referendum, which passed in 69 percent of Illinois counties, or 70 of 102, will result in the current 1/4 cent corn checkoff rate changing to 3/8 of a cent-per-bushel. The referendum passed by a margin of 69% to 31%. The program will retain the right to refund and the new rate will take effect Oct. 1, 2007.
The Illinois Corn Marketing Act was established by growers in 1982 as a means to fund corn market development, research, promotion and education efforts. The rate increase, equivalent to about 20 cents-an-acre, will be the first since the program was initiated.
The formal results of the referendum, which passed 1,180votes to 520, were announced today after an IDOA-appointed teller committee completed its review of ballots and certified the statewide vote.
ICMB, which is made up of a volunteer board of corn producers elected by their peers, administers the checkoff fund. They invest it in market development, research, education and promotion programs designed to enhance the profitability of Illinois corn growers.