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[Congressional Bills 110th Congress]
[From the U.S. Government Publishing Office]
[H.R. 5189 Introduced in House (IH)]

110th CONGRESS
  2d Session
                                H. R. 5189

  To establish the Orange Juice Promotion and Production Improvements 
                              Trust Fund.

_______________________________________________________________________

                    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.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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.
                                 <all>
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