(1) The assessment levied under the national beef promotion and research program in the amount of one dollar ($1.00) per head of cattle sold shall be collected, reported, and remitted to the Secretary of the Department of Finance and Administration by the persons, in the manner, and at the times prescribed by the federal Beef Promotion and Research Act of 1985 and the administrative orders and rules issued under the provisions of that act.
(2) Records concerning cattle sales and the collection of assessments shall be maintained.
(3) The national beef promotion and research program shall in all respects be conducted in Arkansas in conformity with federal law, orders, and regulations regarding the program so long as the national beef promotion and research program is in effect.