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U.S. Code as of:
01/03/05
Section 2907. Refunds
(a) Establishment of escrow account
During the period prior to the approval of the continuation of an
order pursuant to the referendum required under section 2906(a) of
this title, subject to subsection (f) of this section, the Board
shall -
(1) establish an escrow account to be used for assessment
refunds;
(2) place funds in such account in accordance with subsection
(b) of this section; and
(3) refund assessments to persons in accordance with this
section.
(b) Funding escrow account
Subject to subsection (f) of this section, the Board shall place
in such account, from assessments collected under section 2906 of
this title during the period referred to in subsection (a) of this
section, an amount equal to the product obtained by multiplying -
(1) the total amount of assessments collected under section
2906 of this title during such period; by
(2) the greater of -
(A) the average rate of assessment refunds provided to
producers under State beef promotion, research, and consumer
information programs financed through producer assessments, as
determined by the Board; or
(B) 15 percent.
(c) Demand and receipt of one-time refund
Subject to subsections (d), (e), and (f) of this section and
notwithstanding any other provision of this chapter,(!1) any person
shall have the right to demand and receive from the Board a
one-time refund of all assessments collected under section 2906 of
this title from such person during the period referred to in
subsection (a) of this section if such person -
(1) is responsible for paying such assessment; and
(2) does not support the program established under this
chapter.
(d) Form and time period for demand for one-time refund
Such demand shall be made in accordance with regulations, on a
form, and within a time period prescribed by the Board.
(e) Submission of proof for one-time refund
Such refund shall be made on submission of proof satisfactory to
the Board that the producer, person, or importer -
(1) paid the assessment for which refund is sought; and
(2) did not collect such assessment from another producer,
person, or importer.
(f) Insufficiency of funds in escrow account; proration of funds
among eligible persons
(1) If the amount in the escrow account required to be
established by subsection (a) of this section is not sufficient to
refund the total amount of assessments demanded by all eligible
persons under this section and the continuation of an order is
approved pursuant to the referendum required under section 2906(a)
(!1) of this title, the Board shall -
(A) continue to place in such account, from assessments
collected under section 2904 of this title, the amount required
under subsection (b) of this section, until such time as the
Board is able to comply with subparagraph (B); and
(B) provide to all eligible persons the total amount of
assessments demanded by all eligible producers.
(2) If the amount in the escrow account required to be
established by subsection (a) of this section is not sufficient to
refund the total amount of assessments demanded by all eligible
persons under this section and the continuation of an order is not
approved pursuant to the referendum required under section 2906(a)
of this title, the Board shall prorate the amount of such refunds
among all eligible persons who demand such refund.
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