Authorizing the Iowa sheep and wool promotion board to issue orders for the suspension and recommencement of the assessment imposed on wool, and including effective date provisions

BACKGROUND. This bill amends Code chapter 182 which provides for an assessment (a so-called checkoff) on the sale of sheep and wool, which is a self-imposed tax on producers collected by first purchasers for remission to the Iowa sheep and wool promotion board (board) under a promotional order for purposes of promoting the marketing of sheep and wool and to provide for related education and research programs.12).13B). BILL’S PROVISIONS. The bill authorizes the board to issue an order suspending the imposition of the assessment on wool if the board determines that the average per pound market value of the wool sold to first purchasers is equal to or less than the assessment rate. The board may later order the termination of the suspension order; but must order its termination, and recommence the imposition of the assessment, if it determines that the market value will remain more than the assessment rate for the foreseeable future. EFFECTIVE DATE. The bill takes effect upon enactment.