126.88 Modifying fund assessments.

(1) The department may by rule modify the fund assessments provided under s. 126.15, 126.30, or 126.60. The department shall modify fund assessments under ss. 126.15, 126.30, 126.46, and 126.60 as necessary to do all of the following:

(a) Maintain an overall fund balance of at least $5,000,000, but not more than $22,000,000.

(b) Maintain a combined fund balance attributable to grain dealers and grain warehouse keepers of at least $1,200,000, but not more than $7,000,000.

(d) Maintain a fund balance attributable to milk contractors of at least $3,000,000, but not more than $12,000,000.

(e) Maintain a fund balance attributable to vegetable contractors of at least $800,000, but not more than $3,000,000.

(2)

(a) If the fund balance for a portion of the fund under sub. (1) (b) to (e) falls below the minimum amount required for that portion of the fund, the department shall by rule modify the assessment rates for the type of contractor that contributes to that portion of the fund so that the assessment rates are adequate to reach and maintain the minimum balance within a reasonable time.

(b) The department may use the procedure under s. 227.24 to promulgate a rule modifying an assessment under par. (a). In a rule promulgated under this paragraph, the department may not provide that the modification of an assessment takes effect before the beginning of the next license year. Notwithstanding s. 227.24 (1) (c) and (2), a rule promulgated under this paragraph may remain in effect for not more than 24 months. Notwithstanding s. 227.24 (1) (a) and (3), the department is not required to determine that promulgating a rule under this paragraph as an emergency rule is necessary for the preservation of the public peace, health, safety, or welfare and is not required to provide a finding of emergency for a rule promulgated under this paragraph.

History: 2001 a. 16; 2009 a. 296; 2017 a. 155.