[Code of Federal Regulations]
[Title 7, Volume 10]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 7CFR1463.9]

[Page 642]
 
                          TITLE 7--AGRICULTURE
 
  CHAPTER XIV--COMMODITY CREDIT CORPORATION, DEPARTMENT OF AGRICULTURE
 
PART 1463_2005	2014 TOBACCO TRANSITION PROGRAM--Table of Contents
 
                Subpart A_Tobacco Transition Assessments
 
Sec.  1463.9  Payment of assessments.

    (a) Assessments under this subpart are imposed for the expenditures 
CCC has determined it will incur in the 2005 through 2014 calendar 
years. Except as provided in paragraph (c) of this section, payment of 
such assessments are due to CCC no later than the end of each calendar 
year quarter. If prior to 30 calendar days before the end of a calendar 
year quarter CCC has not notified an entity of the amount that is 
required to be remitted in that quarter, no interest will be assessed by 
CCC under paragraph (d) of this section until 30 calendar days have 
elapsed from the date CCC provided notification of the amount owed.
    (b) Payments due under this subpart must be submitted to CCC by 
electronic fund transfer unless prior written approval has been obtained 
from CCC.
    (c) The final two calendar year quarterly payments due to CCC under 
this part shall be due to CCC on September 30, 2014.
    (d) Notwithstanding any other provision of this chapter, if CCC has 
not received payment of assessments determined to be owed at the end of 
a calendar year quarter, CCC will assess interest on such unpaid amount 
beginning on the first day of the calendar year quarter immediately 
following the end of such prior quarter. Such interest will be at the 
rate CCC assesses on delinquent debts in accordance with part 1403 of 
this title.
    (e) With respect to funds placed in escrow that are refunded to the 
domestic manufacturer or importer of tobacco products due to the 
resolution of an appeal, interest will be paid on such amount from the 
date of receipt by CCC until the date of the refund. Such interest rate 
will be at the rate charged by the U.S. Treasury for CCC's borrowing 
that is in effect on the date of receipt by CCC of such funds.