Page:United States Statutes at Large Volume 104 Part 5.djvu/574

 104 STAT. 3896 PUBLIC LAW 101-624—NOV. 28, 1990 board of an amount not to exceed one-half of any fees paid to State governmental agencies or first purchasers for collection of the assessments if the payment of such fees by the qualified State soybean board is required by State law enacted prior to the date of enactment of this Act, except that the Board may not provide a credit to any qualified State soybean board of an amount that exceeds 2.5 percent of the amount of assessments collected and remitted to the Board under subsection (1). (n) MINIMUM LEVEL OF ASSESSMENTS TO STATES.— (1) PRE-REFERENDUM PERIOD. —The order shall contain provisions to ensure that, during the period prior to the conduct of the referendum provided for in section 1970(a), each qualified State soybean board receives annually an amount of funds equal to the average amount that the State board collected from assessments during each of the State board's fiscal years 1984 through 1988 (excluding the year in which such collections were the highest and the year in which such collections were the lowest), as determined by the Secretary and subject to paragraph (3). (2) POST-REFERENDUM PERIOD.— The order shall provide, effective after the conduct of the referendum provided for in section 1970(a), subject to paragraph (3), that the Board annually shall provide a credit to each qualified State soybean board of an amount by which— (A) the amount equal to 1 cent times the average number of bushels of soybeans produced in the State during each of the preceding 5 years (excluding the year in which the production is the highest and the year in which the production is the lowest); exceeds (B) the total amount collected by the qualified State soybean board from assessments on producers minus the amount of assessments remitted to the Board during such year under subsection (1). (3) LIMITATION.—The total amount of credits under paragraph (1) or (2) and Eissessments retained by the qualified State soy- bean board for a year may not exceed the total amount of assessments collected in that State under subsection (1) (net of any refunds made under paragraph (2) of subsection (1)) in that year. (o) INVESTMENT OF FUNDS.— (1) IN GENERAL. —The order shall provide that the Board, with the approval of the Secretary, may invest assessment funds collected by the Board under the order, pending their disbursement, only in— (A) obligations of the United States or any agency thereof; (B) general obligations of any State or any political subdivision thereof; (C) any interest-bearing account or certificate of deposit of a bank that is a member of the Federal Reserve System; or (D) obligations fully guaranteed as to principal and interest by the United States. (2) INCOME.— Income from any such investment may be used for any purpose for which the invested funds may be used. (p) PROHIBITION ON USE OF FUNDS TO INFLUENCE GOVERNMENTAL ACTION. —

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