Page:United States Statutes at Large Volume 110 Part 1.djvu/1102

 110 STAT. 1078 PUBLIC LAW 104-127—APR. 4, 1996 Effective date. Records. Reports. (4) to propose, receive, evaluate, and approve budgets, plans, and projects of promotion, research, consumer information, and industry information, and to contract with appropriate persons to implement the plans or projects; (5) to accept and receive voluntary contributions, gifts, and market promotion or similar funds; (6) to invest, pending disbursement under a plan or project, funds collected through assessments authorized under subsection (f), only in— (A) obligations of the United States or an agency of the United States; (B) general obligations of a State or a political-subdivision of a State; (C) an 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; (7) to receive, investigate, and report to the Secretary complaints of violations of the order; and (8) to recommend to the Secretary amendments to the order. (d) PLANS AND BUDGETS.— (1) IN GENERAL. — The order shall provide that the Board shall submit to the Secretary for approval any plan or project of promotion, research, consumer information, or industry information. (2) BUDGETS. —The order shall require the Board to submit to the Secretary for approval budgets on a fiscal year basis of the anticipated expenses and disbursements of the Board in the implementation of the order, including projected costs of plans and projects of promotion, research, consumer information, and industry information. (e) CONTRACTS AND AGREEMENTS.— (1) IN GENERAL. —The order shall provide that the Board may enter into contracts or agreements for the implementation and carrying out of plans or projects of promotion, research, consumer information, or industry information, including contracts with a processor organization, and for the payment of the cost of the plans or projects with funds collected by the Board under the order. (2) REQUIREMENTS.— ^A contract or agreement under paragraph (1) shall provide that— (A) the contracting party shall develop and submit to the Board a plan or project, together with a budget that shows the estimated costs to be incurred for the plan or project; (B) the plan or project shall become effective on the approval of the Secretary; and (C) the contracting party shall keep accurate records of each transaction of the 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. (3) PROCESSOR ORGANIZATIONS.—The order shall provide that the Board may contract with processor organizations for any services required in addition to the services described in

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