Browse Arkansas Code titles and sections
7 U.S.C. § 518e — Tobacco Trust Fund
Federal law — U.S. Code and appendices · legal_authorities
**(a) Establishment** There is established in the Commodity Credit Corporation a revolving trust fund, to be known as the “Tobacco Trust Fund”, which shall be used in carrying out this subchapter. The Tobacco Trust Fund shall consist of the following:
(1) Assessments collected under [section 518d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section518d&num=0&edition=prelim).
(2) Such amounts as are necessary from the Commodity Credit Corporation.
(3) Any interest earned on investment of amounts in the Tobacco Trust Fund under subsection (c).
**(b) Expenditures**
(1) **Authorized expenditures** — Subject to paragraph (2), and notwithstanding any other provision of law, the Secretary shall use amounts in the Tobacco Trust Fund, in such amounts as the Secretary determines are necessary—
(A) to make payments under sections 518a and 518b of this title;
(B) to provide reimbursement under [section 519(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section519/c&num=0&edition=prelim);
(C) to reimburse the Commodity Credit Corporation for costs incurred by the Commodity Credit Corporation under paragraph (2); and
(D) to make payments to financial institutions to satisfy contractual obligations under section 518a or 518b of this title.
(2) **Expenditures by Commodity Credit Corporation** — Notwithstanding any other provision of law, the Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to make payments described in paragraph (1). Not later than January 1, 2015, the Secretary shall use amounts in the Tobacco Trust Fund to fully reimburse, with interest, the Commodity Credit Corporation for all funds of the Commodity Credit Corporation expended
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518e
Stored review status: release_metadata_unconfirmed. A text match is a research starting point; applicability is not established.
Original supplied file — preserved unchanged
Download original Markdown file
File SHA-256: 5be72e4d6c44a0d7e3e4a2608d46984b01f3a770b5c4fc9818b8e44c0ab81263. The original may include catalog metadata, neighboring provisions, or embedded records outside this collection's scope. Search shows only the selected federal record. Historical editions and unverified snapshots are not a statement of current law.
Authority boundary: historical or unconfirmed source not current law verified.
Open the recorded source website ↗
Record provenance
Stable record: federal_law:legal_authorities:record_usc_a5a26899132c7a1bcb0f3d51
Source file: Laws/federal/codes/united-states-code/title-7/section-518e-tobacco-trust-fund--4bedd0ad38.md
Pages: Not recorded – Not recorded
Passage SHA-256: bc41eb9137caae09bb1efae567e72d65a44a48cee0c9b55fd420428e1018b7c8
Source location: Title 7, Chapter 21C, § 518e; chapter-21c-tobacco-reform.md
Stored source content
**(a) Establishment** There is established in the Commodity Credit Corporation a revolving trust fund, to be known as the “Tobacco Trust Fund”, which shall be used in carrying out this subchapter. The Tobacco Trust Fund shall consist of the following:
(1) Assessments collected under [section 518d of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section518d&num=0&edition=prelim).
(2) Such amounts as are necessary from the Commodity Credit Corporation.
(3) Any interest earned on investment of amounts in the Tobacco Trust Fund under subsection (c).
**(b) Expenditures**
(1) **Authorized expenditures** — Subject to paragraph (2), and notwithstanding any other provision of law, the Secretary shall use amounts in the Tobacco Trust Fund, in such amounts as the Secretary determines are necessary—
(A) to make payments under sections 518a and 518b of this title;
(B) to provide reimbursement under [section 519(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section519/c&num=0&edition=prelim);
(C) to reimburse the Commodity Credit Corporation for costs incurred by the Commodity Credit Corporation under paragraph (2); and
(D) to make payments to financial institutions to satisfy contractual obligations under section 518a or 518b of this title.
(2) **Expenditures by Commodity Credit Corporation** — Notwithstanding any other provision of law, the Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to make payments described in paragraph (1). Not later than January 1, 2015, the Secretary shall use amounts in the Tobacco Trust Fund to fully reimburse, with interest, the Commodity Credit Corporation for all funds of the Commodity Credit Corporation expended under the authority of this paragraph. Administrative costs incurred by the Secretary or the Commodity Credit Corporation to carry out this title 11 See References in Text note below. may not be paid using amounts in the Tobacco Trust Fund.
**(c) Investment of amounts**
(1) **In general** — The Commodity Credit Corporation shall invest such portion of the amounts in the Tobacco Trust Fund as are not, in the judgment of the Commodity Credit Corporation, required to meet current expenditures.
(2) **Interest-bearing obligations** — Investments may be made only in interest-bearing obligations of the United States.
(3) **Acquisition of obligations** — For the purpose of investments under paragraph (1), obligations may be acquired—
(A) on original issue at the issue price; or
(B) by purchase of outstanding obligations at the market price.
(4) **Sale of obligations** — Any obligation acquired by the Tobacco Trust Fund may be sold by the Commodity Credit Corporation at the market price.
(5) **Credits to Fund** — The interest on, and the proceeds from the sale or redemption of, any obligations held in the Tobacco Trust Fund shall be credited to and form a part of the Fund.
Cross-references
Connections may be documented source relationships, shared citations or nearby passages. Each explains its basis; a connection alone does not establish applicability to your situation.
Federal law — U.S. Code and appendices · legal_authorities
In this subchapter and subchapter II:
(1) **Agricultural Act of 1949** — The term “Agricultural Act of 1949” means the Agricultural Act of 1949 ([7 U.S.C. 1421](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1421&num=0&edition=prelim) et seq.), as in effect on the day before October 22, 2004.
(2) **Agricultural Adjustment Act of 1938** — The term “Agricultural Adjustment Act of 1938” means the Agricultural Adjustment Act of 1938 ([7 U.S.C. 1281](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1281&num=0&edition=prelim) et seq.), as in effect on the day before October 22, 2004.
(3) **Considered planted** — The term “considered planted” means tobacco that was planted, but failed to be produced as a result of a natural disaster, as determined by the Secretary.
(4) **Contract** — The term “contract” means a contract entered into under section 518a or 518b of this title.
(5) **Contract payment** — The term “contract payment” means a payment made under section 518a or 518b of this title pursuant to a contract.
(6) **Producer of quota tobacco** — The term “producer of quota tobacco” means an owner, operator, landlord, tenant, or sharecropper that shared in the risk of producing tobacco on a farm where tobacco was produced or considered planted pursuant to a tobacco farm poundage quota or farm acreage allotment established under part I of subtitle B of title III of the Agricultural Adjustment Act of 1938 ([7 U.S.C. 1311](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1311&num=0&edition=prelim) et seq.).
(7) **Quota tobacco** — The term ‘quota tobacco’ 11 So in original. means a kind of tobacco that is subject to a farm marketing quota or farm acreage allotment for the 2004 tobacco marketin
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
**(a) Definitions** In this section:
(1) **Base period** — The term “base period’ 11 So in original. means the one-year period ending the June 30 before the beginning of a fiscal year.
(2) **Gross domestic volume** — The term “gross domestic volume” means the volume of tobacco products—
(A) removed (as defined by [section 5702 of title 26](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title26-section5702&num=0&edition=prelim)); and
(B) not exempt from tax under chapter 52 of title 26 at the time of their removal under that chapter or the Harmonized Tariff Schedule of the United States.
(3) **Market share** — The term “market share” means the share of each manufacturer or importer of a class of tobacco product (expressed as a decimal to the fourth place) of the total volume of domestic sales of the class of tobacco product during the base period for a fiscal year for an assessment under this section.
**(b) Quarterly assessments**
(1) **Imposition of assessment** — The Secretary, acting through the Commodity Credit Corporation, shall impose quarterly assessments during each of fiscal years 2005 through 2014, calculated in accordance with this section, on each tobacco product manufacturer and tobacco product importer that sells tobacco products in domestic commerce in the United States during that fiscal year.
(2) **Amounts** — Beginning with the calendar quarter ending on December 31 of each of fiscal years 2005 through 2014, the assessment payments over each four-calendar quarter period shall be sufficient to cover—
(A) the contract payments made under sections 518a and 518b of this title during that period; and
(B) other expenditures from the Tobacco Trust Fund made during the base quarter periods corresponding to the four calendar quart
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 518d
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
In the fulfillment of its purposes and in carrying out its annual budget programs submitted to and approved by the Congress pursuant to chapter 91 of title 31, the Corporation is authorized to use its general powers only to—
**(a)** Support the prices of agricultural commodities (other than tobacco) through loans, purchases, payments, and other operations.
**(b)** Make available materials and facilities required in connection with the production and marketing of agricultural commodities (other than tobacco).
**(c)** Procure agricultural commodities (other than tobacco) for sale to other Government agencies, foreign governments, and domestic, foreign, or international relief or rehabilitation agencies, and to meet domestic requirements.
**(d)** Remove and dispose of or aid in the removal or disposition of surplus agricultural commodities (other than tobacco).
**(e)** Increase the domestic consumption of agricultural commodities (other than tobacco) by expanding or aiding in the expansion of domestic markets or by developing or aiding in the development of new and additional markets, marketing facilities, and uses for such commodities.
**(f)** Export or cause to be exported, or aid in the development of foreign markets for, agricultural commodities (other than tobacco) (including fish and fish products, without regard to whether such fish are harvested in aquacultural operations).
**(g)** Carry out conservation or environmental programs authorized by law.
**(h)** Carry out such other operations as the Congress may specifically authorize or provide for.In the Corporation’s purchasing and selling operations with respect to agricultural commodities (other than tobacco) (except sales to other Government agencies), and in the warehousing, transporting, processing, or h
Source: Supplied U.S. Code snapshot — release unconfirmed · 15 U.S.C. § 714c
Stored review status: release_metadata_unconfirmed. Explicit cross-reference supplied in source Markdown; currentness and applicability require review.
Federal law — U.S. Code and appendices · legal_authorities
Page 446
TITLE 7—AGRICULTURE
§ 518e
1 See References in Text note below.
of an assessment is incorrect, the Secretary
shall revise the amount of the assessment so
that the manufacturer or importer is required
to pay only the amount correctly determined.
(4) Time for review
Not later than 30 days after receiving notice
from a manufacturer or importer under para-
graph (1), the Secretary shall—
(A) decide whether the information pro-
vided to the Secretary under paragraph (2),
and any other information that the Sec-
retary determines is appropriate, is suffi-
cient to establish that the original assess-
ment was incorrect; and
(B) make any revisions necessary to en-
sure that each manufacturer and importer
pays only its correct pro rata share of total
gross domestic volume from all sources.
(5) Immediate payment of undisputed amounts
The regulations promulgated by the Sec-
retary under paragraph (2) shall provide for
the immediate payment by a manufacturer or
importer challenging an assessment of that
portion of the assessment that is not in dis-
pute. The manufacturer and importer may
place into escrow, in accordance with such
regulations, only the portion of the assess-
ment being challenged in good faith pending
final determination of the claim.
(j) Judicial review
(1) In general
Any manufacturer or importer aggrieved by
a determination of the Secretary with respect
to the amount of any assessment may seek re-
view of the determination in the United States
District Court for the District of Columbia or
for the district in which the manufacturer or
importer resides or has its principal place of
business at any time following exhaustion of
the administrative remedies available under
subsection (i).
(2) Time limits
Administrative remedies
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 518e
Stored review status: historical_2024_not_currentness_verified. Same stored citation; legal effect and authority still require review.