Section ATCP 101.25 - Fund assessment temporarily affected by merger or acquisition; partial refund(1) PARTIAL REFUND OF ASSESSMENT. The department may refund part of an annual fund assessment paid by a contributing vegetable contractor under s. 126.60, Stats., if all of the following apply: (a) The contractor paid the full amount of the assessment, including any late payment penalties that apply under s. 126.60(6) (d), Stats.(b) The contractor is the surviving entity in a merger under s. 179.77, 180.1101, 183.1201 or 185.61, Stats., or has acquired property pursuant to a sale of assets under s. 180.1202, Stats.(c) The assessment was based on the contractor's financial statement for the fiscal year in which the merger or acquisition under par. (b) took effect.(d) The contractor's financial statement, for the fiscal year in which the merger or acquisition under par. (b) took effect, caused the sum of the contractor's current ratio assessment rate under s. 126.60(2), Stats., and debt to equity ratio assessment rate under s. 126.60(4), Stats., to increase by at least 100% compared to the preceding license year.(e) The contractor's annual financial statements, for the fiscal years immediately preceding and immediately following the fiscal year in which the merger or acquisition under par. (b) took effect, show positive equity, a current ratio of at least 1.25 to 1.00 and a debt to equity ratio of no more than 3.0 to 1.0.(f) In the license year immediately following the license year for which the contractor paid the assessment, the sum of the contractor's current ratio assessment rate under s. 126.60(2), Stats., and debt to equity assessment rate under s. 126.60(4), Stats., declines by at least 50% compared to the license year for which the contractor paid the assessment.(g) The contractor requests the refund in writing, by February 1 of the contractor's next license year.(2) REFUND AMOUNT. The amount of the refund under sub. (1) shall equal 75% of the difference between the assessment amount paid by the vegetable contractor and the assessment amount required of the vegetable contractor in the next license year. (3) REFUND PAID AS CREDIT AGAINST NEXT YEAR'S ASSESSMENT.(a) The department shall pay the refund under sub. (1) as a credit against the contractor's assessment for the next license year. The department shall apportion the credit, pro rata, against the quarterly assessment installments required of the contractor under s. 126.60(6), Stats., in that next license year. If the credit exceeds the total assessment required of the contractor in that next license year, the department shall credit the balance in the same fashion against assessments required of the contractor in subsequent consecutive license years, except that the department may not grant a credit in more than 4 subsequent license years. (b) The department may not pay any refund under sub. (1), except in the manner prescribed in par. (a). The department may not pay the refund to any person other than the contractor who paid the original assessment on which the refund is given. Wis. Admin. Code Department of Agriculture, Trade and Consumer Protection ATCP 101.25
Emerg. cr. eff. 1-29-04; CR 04-030: cr. Register September 2004 No. 585, eff. 10-1-04.