Sec. 38. (a) For the marketing year beginning October 1, 2009, if at least twenty-five percent (25%) of the assessment is refunded during the marketing year, the council shall:

(1) cease collecting the assessment on January 1 of the subsequent year;

(2) maintain a sufficient amount of money to pay any refunds requested by producers; and

(3) request that the legislative council have legislation prepared to repeal the corn market law.

     (b) If for the marketing year beginning October 1, 2009, less than twenty-five percent (25%) of the assessments are refunded, the council shall review the refunds for each year beginning with the marketing year beginning October 1, 2010. If refunds exceed twenty-five percent (25%) in two (2) consecutive marketing years, the council shall:

(1) cease collecting the assessment on January 1 of the subsequent year;

(2) maintain a sufficient amount of money to pay any refunds requested by producers; and

(3) request that the legislative council have legislation prepared to repeal the corn market law.

     (c) The dean of agriculture and the council shall report to the legislative council the amounts collected and refunded. The report to the legislative council must be in an electronic format under IC 5-14-6.

[Pre-2008 Recodification Citation: 15-4-10-33.]

As added by P.L.2-2008, SEC.6.