Iowa Code 185.21 – Assessment
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1. A state assessment which is adopted upon the initiation of a promotional order shall be collected during the effective period of the promotional order, and shall be of no force or effect upon termination of the promotional order.
Terms Used In Iowa Code 185.21
- assessment: means an excise tax on each bushel of soybeans marketed in this state which is imposed pursuant to a promotional order as provided in this chapter. See Iowa Code 185.1
- Fund: means the grain depositors and sellers indemnity fund created in section 203D. See Iowa Code 203D.1
- Marketed in this state: refers to a sale of soybeans to a first purchaser who is a resident of or doing business in this state where actual delivery of the soybeans occurs in this state. See Iowa Code 185.1
- National assessment: means the assessment on soybeans collected pursuant to 7 U. See Iowa Code 185.1
- Net market price: means the sales price received by a producer for soybeans after adjustments for any premium or discount based on grading or quality factors. See Iowa Code 185.1
- Promotional order: means an order administered pursuant to this chapter which establishes a program for the promotion, research, and market development of soybeans and provides for a state assessment to finance the program. See Iowa Code 185.1
- Soybeans: means and includes all kinds of varieties of soybeans marketed or sold as soybeans by the producer. See Iowa Code 185.1
- state: when applied to the different parts of the United States, includes the District of Columbia and the territories, and the words "United States" may include the said district and territories. See Iowa Code 4.1
2. The state assessment shall be paid into the soybean promotion fund established in section 185.26.
3. The rate of the state assessment shall be as follows:
a. If the national assessment is being collected, the rate of the state assessment shall be one-quarter of one percent of the net market price of the soybeans marketed in this state.
b. If the national assessment is not being collected, the rate of the state assessment shall be one-half of one percent of the net market price of soybeans marketed in this state.