| Q |
On what farm produce are assessments required to be taken? |
| A |
“Farm produce” means dry edible beans, soybeans, small grains, cereal grains, or corn.” Seed is exempt from assessments and potential program benefits. |
|
| Q |
Are assessments required to be taken on farm produce priced and delivered prior to January 1, 2005, when the checks are not issued until after January 1, 2005? |
| A |
No, assessments are not required on grain that is sold prior to January 1, 2005. |
|
| Q |
How should the producer be notified of the deduction? |
| A |
The deduction should be clearly identified in the producers settlement statement as to the amount and that it is for the Farm Produce Insurance Fund. |
|
| Q |
Are the farm produce assessments to be taken out after all other normal charges and
check offs? |
| A |
Yes, assessments are to be deducted after normal charges and
check offs. |
|
| Q |
What are the grain dealers requirements as to assessment refunds (opt-outs)? |
| A |
There are no requirements for the grain dealer as to refunds. Producers are required to submit refund forms and supporting documentation to the Farm Produce Insurance Authority, Po Box 30017, Lansing MI 48909 within twelve months of sale. The grain dealer may refer the producer to the website
www.michigan.gov/graindealers
for forms or pass out the form on request. |
|
| Q |
Where and when are the assessments required to be submitted? |
| A |
The Farm Produce Insurance Authority is currently in the process of selecting a financial institution and as soon as this selection is made, you will be notified of the payment address. Assessments are to be paid within thirty days of the end of each calendar quarter. For example the first quarter ends on March 31, 2005 and assessments are due by April 30, 2005. |
|
| Q |
Are there any other requirements for the grain dealer? |
| A |
Section 11(5) of the Farm Produce Insurance Act states “A licensee shall clearly indicate in its books and records the individual producer premiums collected by the licensee under subsection (3) and retain those books and records for at least 3 years. A licensee shall make the portion of the books and records of the licensee reflecting the premiums collected available for inspection by the director during regular business hours.” |
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