7 CFR 955.44 - Excess funds.

§ 955.44 Excess funds.
If, at the end of a fiscal period, the assessments collected are in excess of expenses incurred, such excess shall be accounted for as follows:
(a) The committee, with the approval of the Secretary, may establish an operating reserve and may carry over to subsequent fiscal periods excess funds in a reserve so established, except funds in the reserve shall not exceed the equivalent of approximately three fiscal periods' budgeted expenses. Such reserve funds may be used:
(1) To defray any expenses authorized under this part;
(2) To defray expenses during any fiscal period prior to the time assessment income is sufficient to cover such expenses;
(3) To cover deficits incurred during any fiscal period when assessment income is less than expenses;
(4) To defray expenses incurred during any period when any or all provisions of this part are suspended or are inoperative; and
(5) To cover necessary expenses of liquidation in the event of termination of this part.
Upon termination of this part, any funds not required to defray the necessary expenses of liquidation shall be disposed of in such manner as the Secretary may determine to be appropriate except that to the extent practicable, such funds shall be returned pro rata to the persons from whom such funds were collected.
(b) If such excess is not retained in a reserve as provided in paragraph (a) of this section, each handler entitled to a proportionate refund of the excess assessments collected shall be credited at the end of a fiscal period with such refund against the operations of the following fiscal period unless such handler demands payment thereof, in which event such proportionate refund shall be paid.

Title 7 published on 2014-01-01

no entries appear in the Federal Register after this date.

This is a list of United States Code sections, Statutes at Large, Public Laws, and Presidential Documents, which provide rulemaking authority for this CFR Part.

This list is taken from the Parallel Table of Authorities and Rules provided by GPO [Government Printing Office].

It is not guaranteed to be accurate or up-to-date, though we do refresh the database weekly. More limitations on accuracy are described at the GPO site.


United States Code
U.S. Code: Title 7 - AGRICULTURE

§ 601 - Declaration of conditions

§ 602 - Declaration of policy; establishment of price basing period; marketing standards; orderly supply flow; circumstances for continued regulation

§ 603 - Government owned cotton; transfer to Secretary of Agriculture; powers of Secretary

§ 604 - Borrowing money; expenditures; authority of Secretary

§ 605 - Repealed. June 30, 1947, ch. 166, title II,

§ 606 - Repealed. Aug. 24, 1935, ch. 641,

§ 607 - Sale by Secretary; additional options; validation of assignments; publication of information

§ 608 - Powers of Secretary

7 U.S. Code § 551 to 568 - Transferred

§ 608a - Enforcement of chapter

7 U.S. Code § 551 to 568 - Transferred

§ 608b - Marketing agreements; exemption from anti-trust laws; inspection requirements for handlers not subject to agreements

§ 608c - Orders

7 U.S. Code § 551 to 568 - Transferred

§ 608d - Books and records

§ 608e - Repealed. July 3, 1948, ch. 827, title III,

7 U.S. Code § 551 to 568 - Transferred

§ 608f - Repealed.

§ 609 - Processing tax; methods of computation; rate; what constitutes processing; publicity as to tax to avoid profiteering

§ 610 - Administration

§ 611 - “Basic agricultural commodity” defined; exclusion of commodities

§ 612 - Appropriation; use of revenues; administrative expenses

§ 612a, 612b - Omitted

§ 612c - Appropriation to encourage exportation and domestic consumption of agricultural products

7 U.S. Code § 612a, 612b - Omitted

7 U.S. Code § 612a, 612b - Omitted

7 U.S. Code § 612a, 612b - Omitted

7 U.S. Code § 612a, 612b - Omitted

7 U.S. Code § 612a, 612b - Omitted

7 U.S. Code § 612a, 612b - Omitted

§ 613 - Termination date; investigations and reports

§ 613a - Repealed. Sept. 1, 1937, ch. 898, title V,

§ 614 - Separability

§ 615 - Refunds of tax; exemptions from tax; compensating tax; compensating tax on foreign goods; covering into Treasury

§ 616 - Stock on hand when tax takes effect or terminates

§ 617 - Refund on goods exported; bond to suspend tax on commodity intended for export

§ 618 - Existing contracts; imposition of tax on vendee; collection

§ 619 - Collection of tax; provisions of internal revenue laws applicable; returns

§ 619a - Cotton tax, time for payment

§ 620 - Falsely ascribing deductions or charges to taxes; penalty

§ 621 - Machinery belting processed from cotton; exemption from tax

§ 622 - Omitted

§ 623 - Actions relating to tax; legalization of prior taxes

§ 624 - Limitation on imports; authority of President

§ 625 - Repealed.

§ 626 - Import inventory

§ 627 - Dairy forward pricing pilot program

§ 641 to 659 - Omitted

§ 671 - Arbitration of disputes concerning milk

§ 672 - Agreements; licenses, regulations, programs, etc., unaffected

§ 673 - Taxes under Agricultural Adjustment Act; laws unaffected

§ 674 - Short title