Sec. 74.116.  EXEMPTION FROM ASSESSMENT PENALTIES.  (a)  The commissioner by rule shall adopt criteria for exemption from payment of assessment penalties under Section 74.115 of this code a cotton grower for whom payment would impose an undue financial burden.
(b)  A cotton grower may not qualify for an exemption under this section for a year in which the amount computed by subtracting the assessments and penalties due under this subchapter from the cotton grower's net income subject to federal income taxation in the previous year is greater than $15,000.
(c)  A cotton grower who applies for an exemption under this section must use a form prescribed by the commissioner.  A cotton grower must file a separate application form for each year for which the cotton grower claims an exemption.
(d)  The commissioner may establish a payment plan for a cotton grower applying for an exemption under this section.
(e)  The commissioner shall promptly notify an applicant of the determination regarding the applicant's request for an exemption.
(f)  If an exemption under this section is denied, assessments and penalties for the year for which the application is made are due on the later of:
(1)  the date on which they would be due in the absence of an application for exemption;  or
(2)  30 days after the date the applicant receives notice of the denial.
(g)  In addition to the authority provided under Subsections (a)-(f), the commissioner may reduce or waive assessment penalties as appropriate and necessary.
Added by Acts 1993, 73rd Leg., ch. 8, Sec. 1, eff. June 1, 1993.  Amended by Acts 1995, 74th Leg., ch. 227, Sec. 12, eff. Sept. 1, 1995;  Acts 1997, 75th Leg., ch. 463, Sec. 1.18, eff. May 30, 1997.