(430 ILCS 27/20)
Sec. 20.
Assessments.
(a) The Council shall set the initial assessment at no greater than 1/10 of
1 cent per gallon of odorized propane. Thereafter, annual assessments shall be
sufficient to cover the costs of plans and programs developed by the Council.
The assessment shall not be greater than 1/2 cent per gallon of odorized
propane, unless approved by the majority of those voting in a referendum in
both the producer and retail marketer class. In no case may the assessment be
raised by more than 1/10 of 1 cent per gallon of odorized propane annually.
(b) The owner of odorized propane at the time of odorization, or the time of
import of odorized propane shall make the assessment based on the volume of
odorized propane sold and placed into commerce.
The assessment, when made, shall be listed as a
separate line item on the bill labeled "Illinois Propane Education and
Research Assessment".
Assessments collected from purchasers of propane are
payable to the Council on a monthly basis by the 25th of the month following
the month of collection.
If payment is not made to the Council by the due date under this subsection, an
interest penalty of 1% of any amount unpaid shall be added for each month or
fraction of a month after the due date, until final payment is made.
(c) The Council may establish an alternative means of collecting the
assessment if another means is found to be more efficient and effective. The
Council may establish a late payment charge and rate of interest to be imposed
on any person who fails to remit or pay to the Council any amount due under
this Act.
(d) Pending disbursement pursuant to a program, plan, or project, the
Council shall invest funds collected through assessments, and any other funds
received by the Council, only in obligations of the United States or any agency
thereof, in general obligations of any State or political subdivision thereof,
in any
interest-bearing account or certificate of deposit of a bank that is a
member of the Federal Reserve System, or in obligations fully guaranteed as to
principal and interest by the United States.
(Source: P.A. 90-305, eff. 1-1-98.)
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