Page:United States Statutes at Large Volume 49 Part 1.djvu/92

 7 4TH CONGRESS. SESS. I. CH. 32. MA RCH 18, 1935 . 47 vide in any agreement entered into by him with any rice producer Producer to ag ree to co nfo rm to policy of pursuant to this section, upon such terms and conditions as the See- Act, retary determines will best effectuate the declared policy of the Act. that the producer may pledge for production credit in whole or in May designate payee part his right to any rental or benefit payments under the terms of to receive payments. such agr eement and that such producer m ay designat e therein a payee to receive such rental or benefit payments ." Suc . 8 . Section 15 of the Agricultural Adjustment Act, as amended, vol . 48, p . 3a, is further amended by inserting after subsection (b) the following subsections : `'(b-1) The Secretary of Agriculture is authorized and directed Tax payment war- rants . to issue tax-payment warrants, with respect to rough rice produced 1933 and 1 934 crops . i n 1933 and 1934 (provided the processing of such rice is not exempt conditions . from the tax, and provided no tax payment warrant has been pre- viousl y issued with res pect the reto or previous ly appli ed for by appli- cation then pending, sufficient to cover the tax with respect to the Ra te, processing thereof at the rate in effect at the time of such issuance, to any pr ocessor w ith resp ect to a ny such rice whi ch he ha s in his posses- To who m issued . sion o n March 3 1, 1935, and to, or at t he direc tion of any other person with respect to any such rice which, on or after April 1, 1935, he delivers for processing or sells to a processor : Provided, That in cope rRting pro- case any such processor or other person is the producer of such rice ducer requirements . (or has received such rice by gift, bequest, or descent from the producer thereof) that such processor or other person is, if eligible, a cooperating producer : And provided further, That in case such noWhen u processor Cep°r `~ processor or other person is not the producer thereof (nor a person who has received such rice by gift, bequest, or descent from the pro- ducer thereof), (a) that, if the title to such rice was transferred from the producer thereof, whether by operation of law or otherwise, prior to April 1, 1935, such producer received the price prescribed in any marketing agreement, license, regulation, or administrative rul- ing, pursuant to this title, applicable to the sale of such rice by the producer, and (b) that, if the title to such rice was transferred from the producer thereof, whether by operation of law or otherwise, on or after April 1, 1935, such producer received at least the full market price therefor plus an amount equal to 99 per centum of the face value of tax-payment warrants sufficient to cover the tax on the processing of such rice at rate in effect at the time title was so transferred, and was, if eligible, a cooperating producer. "(b-2) The warrants authorized and directed to be issued by Warrants . subsection (b-1) of this section- "(1) shall be issued by the Secretary of Agriculture or his duly etc Issue, form, transfer, authorized agent in such manner, at such time or times, at such place or places, in such form, and subject to such terms and conditions wi th r efer ence to the tran sfer the reof or the void ing of w arra nts fraudulently obtained and/or erroneously issued, as the Secretary of Agriculture may prescribe, and the Secretary of Agriculture is authorized to discontinue the further issuance of tax-payment war- Discontinuance when crop identity no rants at any time or times and in any region or regions when he long er establ ished .' shall determine that the rice in any such region or regions can no longer be identified adequately as rice grown in 1933 or 1934 ; and "(2) shall b e accepted by the C ollector of Intern al Revenu e and mentofpocess~ngta the Secretary of the Treasury at the face value thereof in payment of any processing tax on rice . " (b- 3) (1) Any person who deals or traffics in, or purchases any Pen alt y pro vi sio ns. such tax-payment warrant or the right of any person thereto at less Traffic in tax-pay- than 99 per centum of its face value shall be guilty of a misdemeanor me nt warrants. and upon conviction thereof shall be fined not more than $1,000 or imprisoned for not more than one year or both.