The penalty for failure to submit assessments to the oilseed council; and to provide a penalty.
Impact
The introduction of HB 1136 signifies a strict stance on compliance related to the oilseed market in North Dakota. By instituting a clear penalty framework, the legislation aims to improve the efficiency and accountability of oilseed assessments. This could potentially enhance the revenue captured for the oilseed council, supporting agricultural initiatives within the state and maintaining the financial health of programs reliant on these assessments.
Summary
House Bill 1136 proposes an amendment to North Dakota's Century Code specifically regarding the penalties imposed on first purchasers who fail to submit required assessments to the oilseed council. The bill establishes a penalty of either five hundred dollars or ten percent of the amount due, whichever is greater, along with interest accruing at a rate of six percent per annum from the due date. This change aims to ensure compliance among first purchasers with the submission of necessary assessments to the oilseed council.
Contention
While the bill appears straightforward in its intent, it may raise discussions about the economic impacts on first purchasers, particularly smaller businesses in the agriculture sector. The increased penalties could be seen as a financial burden, leading to pushback from stakeholders who argue for a more measured approach to compliance and penalties. Critics may advocate for additional considerations or support systems for smaller operations that might struggle with the implications of the increased penalties under the new provisions.