110 STAT. 1042 PUBLIC LAW 104-127—APR. 4, 1996 (1) is not inconsistent with the purpose of this subtitle, any term or condition specified in section 515, or any rule issued to carry out this subtitle; and (2) is necessary to administer the order. 7 USC 7416. SEC. 517. ASSESSMENTS. (a) ASSESSMENTS AUTHORIZED. —While an order issued under this subtitle is in effect with respect to an agricultural commodity, assessments shall be— (1) paid by first handlers with respect to the agricultural commodity produced and marketed in the United States; and (2) paid by importers with respect to the agricultural commodity imported into the United States, if the imported agricultural commodity is covered by the order pursuant to section 516(f). (b) COLLECTION.— Assessments required under an order shall be remitted to the board established under the order at the time and in the manner prescribed by the order. (c) LIMITATION ON ASSESSMENTS.—Not more than 1 assessment may be levied on a first handler or importer under subsection (a) with respect to any agricultural commodity. (d) ASSESSMENT RATES.—The board shall recommend to the Secretary 1 or more rates of assessment to be levied under subsection (a). If approved by the Secretary, the rates shall take effect. An order may provide that an assessment rate may not be increased unless approved by a referendum conducted pursuant to section 518. (e) LATE-PAYMENT AND INTEREST CHARGES. — (1) IN GENERAL. —Late-payment and interest charges may be levied on each person subject to an order who fails to remit an assessment in accordance with subsection (b). (2) RATE. —The rate for the charges shall be specified by the Secretary. (f) INVESTMENT OF ASSESSMENTS.—Pending disbursement of assessments under a budget approved by the Secretary, a board may invest assessments collected under this section in— (1) obligations of the United States or any agency of the United States; (2) general obligations of any State or any political subdivision of a State; (3) interest-bearing accounts or certificates of deposit of financial institutions that are members of the Federal Reserve System; or (4) obligations fully guaranteed as to principal and interest by the United States. (g) REFUND OF ASSESSMENTS FROM ESCROW ACCOUNT. — (1) ESCROW ACCOUNT. —During the period beginning on the effective date of an order and ending on the date the Secretary announces the results of a referendum that is conducted under section 518(b)(1) with respect to the order, the board established under the order shall— (A) establish and maintain an escrow account of the kind described in subsection (f)(3) to be used to refund assessments; and (B) deposit funds in the account in accordance with paragraph (2).
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