203D.5 - ADJUSTMENTS TO FEE.
203D.5 ADJUSTMENTS TO FEE.
1. The board shall review annually the debits of and credits to
the grain depositors and sellers indemnity fund created in section
203D.3 and shall make any adjustments in the per-bushel fee required
under section 203D.3, subsection 2, and the dealer-warehouse fee
required under section 203D.3, subsection 3, that are necessary to
maintain the fund within the limits established under this section.
Not later than the first day of May of each year, the board shall
determine the proposed amount of the per-bushel fee based on the
expected volume of grain on which the fee is to be collected and that
is likely to be handled under this chapter, and shall also determine
any adjustment to the dealer-warehouse fee. The board shall make any
changes in the previous year's fees in accordance with chapter 17A.
Changes in the fees shall become effective on the following first day
of July. The per-bushel fee shall not exceed one-quarter cent per
bushel on all purchased grain as defined in section 203D.1. Until
the per-bushel fee is adjusted or waived as provided in this section,
the per-bushel fee is one-quarter cent on all purchased grain.
2. If, at the end of any three-month period, the assets of the
fund exceed eight million dollars, less any encumbered balances or
pending or unsettled claims, the per-bushel fee required under
section 203D.3, subsection 2, and the dealer-warehouse fee required
under section 203D.3, subsection 3, shall be waived and the fees are
not assessable or owing. The board shall reinstate the fees if the
assets of the fund, less any unencumbered balances or pending or
unsettled claims, are three million dollars or less. Section History: Recent Form
86 Acts, ch 1152, § 35
C87, § 543A.5
87 Acts, ch 147, §17; 88 Acts, ch 1148, §4; 89 Acts, ch 143, §907
C93, § 203D.5
2009 Acts, ch 17, §1, 6; 2009 Acts, ch 133, §229 Footnotes
2009 amendment to subsection 2 takes effect March 19, 2009, and
applies retroactively to October 1, 2008; 2009 Acts, ch 17, §6