Page:United States Statutes at Large Volume 90 Part 1.djvu/849

 PUBLIC LAW 94-339—JULY 5, 1976

90 STAT. 799

Public Law 94-339 94th Congress An Act To amend the Food Stamp Act of 1964 to insure a proper level of accountability on the part of food stamp vendors.

Be it enacted iy the Senate and House of Representatives of the United States of America in Congress assembled, That this Act may be cited as the "Emergency Food Stamp Vendor Accountability Act of 1976". SEC. 2. Section 7(d) of the Food Stamp Act of 1964, as amended, is amended by inserting " (1)" immediately after " (d) ", and adding at the end thereof new paragraphs (2) through (7) as follows: "(2)(A) The Secretary shall by regulation prescribe the manner in which funds derived from the distribution of coupons (charges made for coupon allotments) shall be deposited by coupon vendors. The regulations shall contain provisions requiring that coupon vendors promptly deposit such funds in the manner prescribed by the Secretary: Provided, That such regulations shall, at a minimum, require that such deposits be made weekly: Provided further. That such regulations shall, at a minimum, require that upon the accumulation of a balance on hand of $1,000 or more, such deposits be made within two banking days following the accumulation of such amount. "(B) Any coupon vendor, or any officer, employee, or agent thereof, convicted of violating the regulations issued under subparagraph (A) of this paragraph shall be fined not more than $3,000, or imprisoned not more than one year, or both. "(3)(A) Coupon vendors receiving funds derived from the distribution of coupons (charges made for coupon allotments) shall be deemed to be receiving such funds as fiduciaries of the Federal Government, and such coupon vendors shall immediately set aside all such funds as funds of the Federal Government. Funds derived from the distribution of coupons (charges made for coupon allotments) shall not be used, prior to the deposit of such funds in the manner prescribed by the Secretary, for the benefit of any person, partnership, corporation, association, organization, or entity other than the Federal Government. "(B) Any coupon vendor, or any officer, employee, or agent thereof, convicted of violating subparagraph (A) of this paragraph shall be fined not more than $10,000, or a sum equal to the amount of funds involved in the violation, whichever is the greater, or imprisoned not more than ten years, or both: Provided, That if the amount of such funds is less than $1,000, such vendor shall be fined not more than $3,000, or imprisoned not more than one year, or both. "(4)(A) The Secretary shall by regulation require that upon the deposit, in the manner prescribed by the Secretary, of funds derived from the distribution of coupons (charges made for coupon allotments), coupon vendors shall immediately send a written notice to the State agency, accompanied by an appropriate voucher, confirming such deposit. In addition to such other information deemed by the Secretary to be appropriate, such regulations shall require that the notice contain— " (i) the name and address of the coupon vendor;

89-194 O—78—pt. 1

54

July 5, 1976 [S. 2853]

Emergency Fc»od Stamp Vendoi' Accountability Act of 1976. 7 USC 2011 note. Disposition of funds, regulations. 7 USC 2016.

Penalty.

Penalty.

Notice of deposit.

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