§8705 Assessments

Summary

Manufacturers must pay an assessment if they made concrete masonry products for at least 180 days before the payment date. They must send the money to the Board the way the order says and at least once every three months. Manufacturers also must show the total assessment on sales receipts, invoices, or other sales documents as the Board requires. The basic charge is $0.01 for each concrete masonry unit sold. The Board can change that rate with a two-thirds vote, but any change can be no more than $0.01 per unit, the rate can never go above $0.05 per unit, and it can be changed no more than once a year. Late fees and interest can be charged if payments are late; the Secretary sets that rate. While waiting to spend the money, the Board may invest funds in U.S. government or agency obligations, state or local general obligations, interest-bearing bank accounts or CDs at Federal Reserve member banks, or obligations fully guaranteed by the U.S. At least 50% of the money (after admin costs) must fund research, education, and promotion for the manufacturer’s region. Regions I–V are the Northeast, Southeast, Midwest, Plains/Southwest, and West, with the states listed in the order. The Secretary can change the region borders if the Board recommends it.