185C.26 Deposit of moneys — corn promotion fund.
A state assessment collected by the board from a sale of corn shall be deposited in the office of the treasurer of state in a special fund known as the corn promotion fund. The fund may include any gifts, rents, royalties, interest, license fees, or a federal or state grant received by the board. Moneys collected, deposited in the fund, and transferred to the board as provided in this chapter shall be subject to audit by the auditor of state. The auditor of state may seek reimbursement for the cost of the audit from moneys deposited in the fund as provided in this chapter. The department of administrative services shall transfer moneys from the fund to the board for deposit into an account established by the board in a qualified financial institution. The department shall transfer the moneys as provided in a resolution adopted by the board. However, the department is only required to transfer moneys once during each day and only during hours when the offices of the state are open. From moneys collected, the board shall first pay all the direct and indirect costs incurred by the secretary and the costs of referendums, elections, and other expenses incurred in the administration of this chapter, before moneys may be expended to carry out the purposes of this chapter as provided in section 185C.11.
[C77, 79, 81, §185C.26]
89 Acts, ch 198, §15; 94 Acts, ch 1146, §36; 98 Acts, ch 1030, §2; 2003 Acts, ch 145, §286; 2004 Acts, ch 1024, §6; 2010 Acts, ch 1189, §35; 2015 Acts, ch 29, §29
Referred to in §185C.21, 185C.24, 185C.27, 185C.28
Structure Iowa Code
Chapter 185C - CORN PROMOTION BOARD
Section 185C.2 - Petition for election.
Section 185C.3 - Establishment of corn promotion board.
Section 185C.5 - Notice of election.
Section 185C.6 - Number and election of directors.
Section 185C.7 - Terms of directors.
Section 185C.8 - Administration of elections for directors.
Section 185C.10 - Ex officio nonvoting members.
Section 185C.11 - Purposes and powers of the board.
Section 185C.11A - Financial assistance program.
Section 185C.13 - Powers and duties.
Section 185C.14 - Membership of board — compensation — meetings.
Section 185C.15 - Term of promotional order — automatic extension.
Section 185C.16 - Notice of referendum.
Section 185C.17 - Contents of notice.
Section 185C.20 - Producers only to vote.
Section 185C.21 - State assessment.
Section 185C.22 - State assessment on purchase invoice.
Section 185C.23 - Deduction of state assessment.
Section 185C.24 - Cancellation and suspension.
Section 185C.25 - Effective period of promotional order — termination.
Section 185C.25A - Collection of federal assessment.
Section 185C.26 - Deposit of moneys — corn promotion fund.
Section 185C.27 - Refund of assessment.
Section 185C.28 - Use of moneys — appropriation.
Section 185C.29 - Remission of excess funds.