Page:United States Statutes at Large Volume 104 Part 5.djvu/596

 104 STAT. 3918 PUBLIC LAW 101-624—NOV. 28, 1990 Investments. (12) to invest funds collected by the Board pursuant to subsection (g). (d) PLANS AND BUDGETS.— (1) BUDGETS.—The order shall require the Board, prior to the beginning of each fiscal year, or as may be necessary after the beginning of the fiscal year, to develop budgets of the anticipated expenses and disbursements of the Board in the implementation of the order, including projected costs of research and advertising. The budget shall be submitted to the Secretary and be effective on the approval of the Secretary. (2) INCURRING EXPENSES. — The Board may incur such expenses for research or advertising of fluid milk products, and other expenses for the administration, maintenance, and functioning of the Board, as may be authorized by the Secretary. The expenses shall include any implementation, administrative, and referendum costs incurred by the Department. (3) PAYING EXPENSES. —The funds to cover the expenses referred to in paragraph (2) shall be paid from assessments collected under section 1999J. (4) LIMITATION ON SPENDING. — Effective 1 year after the date of the establishment of the Board, the Board shall not spend in excess of 5 percent of the assessments collected for the administration of the Board. (e) PROHIBITION ON BRANDED ADVERTISING. —A program or project conducted under this subtitle shall not make any reference to private brand names or use false or unwarranted claims on behalf of fluid milk products, or false or unwarranted statements with respect to the attributes or use of any competing products, except that this subsection shall not preclude the Board from offering its programs and projects for use by commercial parties, under such terms and conditions as the Board may prescribe as approved by the Secretary. (f) CONTRACTS AND AGREEMENTS. — (1) IN GENERAL. — To ensure efficient use of funds collected under this subtitle, the order shall provide that the Board may enter into contracts or agreements for the implementation and carrying out of programs or projects for fluid milk products research and advertising and for the payment of the costs of the programs or projects with funds received by the Board under the order. (2) REQUIREMENTS. —Any such contract or agreement shall provide that— (A) the contracting party shall develop and submit to the Board a program or project, together with a budget or budgets that shall disclose estimated costs to be incurred for such program or project; (B) the program or project shall become effective on the approval of the Secretary; and Records. (C) the contracting party shall keep accurate records of Reports. ^11 of the transactions of the contracting party, account for funds received and expended, make periodic reports to the Board of activities conducted, and make such other reports as the Board or the Secretary may require. (g) 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 disbursement of the funds, only in—

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