The bill amends the assessments imposed on rice in Arkansas, specifically increasing the assessment rate from 1.35 cents to 2 cents per bushel for both buyers and producers of rice purchased within the state. The funds collected from these assessments will be allocated for market development, rice promotion, basic administration expenses, and various other purposes related to rice extension, research, education, outreach, policy development, and food safety. Additionally, the board is authorized to use up to 20% of the total proceeds for necessary purposes deemed beneficial for the rice industry.

Furthermore, the bill includes an emergency clause, stating that the changes should take effect on August 1, 2023, to align with the recognized marketing year for rice, which runs from August 1 to July 31. This timing is intended to provide certainty to the rice industry and support its economic health. The amendments aim to enhance the promotion and support of the rice sector in Arkansas, ensuring that the necessary resources are available for its development and sustainability.

Statutes affected:
Old version SB499 Original - 3-28-2023 09:07 AM: 2-20-507(a), 2-20-507(d)
Old version SB499 V2 - 4-5-2023 01:21 PM: 2-20-507(a), 2-20-507(d)
SB 499: 2-20-507(a), 2-20-507(d)