110 HR 5189 IH: To establish the Orange Juice Promotion and Production U.S. House of Representatives 2008-01-29 text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.

I 110th CONGRESS 2d Session H. R. 5189 IN THE HOUSE OF REPRESENTATIVES January 29, 2008 Mr. Meek of Florida introduced the following bill; which was referred to the Committee on Agriculture A BILL To establish the Orange Juice Promotion and Production Improvements Trust Fund.

1.

Orange Juice Promotion and Production Improvements Trust Fund

(a)

Establishment

There is hereby established within the Treasury of the United States a trust fund to be known as the Orange Juice Promotion and Production Improvements Trust Fund (hereinafter in this section referred to as the Trust Fund), consisting of such amounts as may be transferred to the Trust Fund under subsection (b) and any amounts as may be credited to the Trust Fund under subsection (c)(2). (b)

Transfer of amounts

The Secretary of the Treasury shall transfer to the Trust Fund out of the general fund of the Treasury of the United States amounts determined by the Secretary of the Treasury to be equivalent to the amounts received into such general fund that are attributable to 15 percent of the duty received as of September 30 of each year on articles under headings 2009.11.00 through 2009.19.00 of the Harmonized Tariff Schedule of the United States. (c)

Investment of Trust Fund

(1)

In general

It shall be the duty of the Secretary of the Treasury to invest such portion of the Trust Fund as is not, in the Secretary's judgment, required to meet current withdrawals. Such investments may be made only in interest-bearing obligations of the United States or in obligations guaranteed as to both principal and interest by the United States. For such purpose, such obligations may be acquired on original issue at the issue price or by purchase of outstanding obligations at the market price. Any obligation acquired by the Trust Fund may be sold by the Secretary of the Treasury at the market price. (2)

Interest and proceeds from sale or redemption of obligations

The interest on, and the proceeds from the sale or redemption of, any obligations held in the Trust Fund shall be credited to and form a part of the Trust Fund. (d)

Availability of amounts from Trust Fund

From amounts available in the Trust Fund (including any amounts not obligated in previous fiscal years), the Secretary of Agriculture is authorized to provide grants to entities in the United States established for the generic promotion of orange juice in the United States market. The Secretary shall provide such grants only to entities that themselves provide funds on a matching basis. Such grants shall be provided for programs or projects that do one or more of the following: (1)Assist United States producers of oranges produced for juice processing in the generic promotion and development of the orange juice market. (2)Assist United States producers of oranges produced for processing in the research of production improvements. (e)

Reports to Congress

The Secretary of the Treasury, in consultation with the Secretary of Agriculture, shall prepare and submit to Congress an annual report on the financial condition and the results of the operations of the Trust Fund, including a description of the use of amounts of grants provided under subsection (d), during the preceding fiscal year and on its expected condition and operations during the next fiscal year.