HSB 687

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. _____ 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.