If the board determines that an eligible industry, which has received a credit pursuant to sections 100.700 to 100.850 , is not complying with the requirements of the credit agreement or all of the provisions of sections 100.700 to 100.850 , the board shall, after giving the industry an opportunity to explain the noncompliance, notify the department of revenue of the noncompliance and request a penalty. The board shall state the amount of the penalty, which may not exceed the sum of any previously allowed assessments pursuant to sections 100.700 to 100.850 .
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