(a) The board shall plan and conduct a program of productive research, education, market development and advertising designed to promote the soybean industry in Tennessee, and is authorized to use the funds derived from the assessment imposed in this part for those purposes, including basic administrative expenses of the plan. The board may also, in its discretion, expend money from the Tennessee soybean promotion fund outside the state of Tennessee for such purposes as national and international research and promotional applications.
(b) Funds may be expended only for the purposes set out in this part and shall not be spent in any manner for political purposes. A report of all expenditures shall be made annually, with four (4) copies of the report to be filed with each of the following: the department of agriculture, the chief clerk of the house of representatives, the chief clerk of the senate and the state library and archives.
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