§ 7101. — Findings and declaration of policy.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC7101]
TITLE 7--AGRICULTURE
CHAPTER 99--SHEEP PROMOTION, RESEARCH, AND INFORMATION
Sec. 7101. Findings and declaration of policy
(a) Findings
Congress finds that--
(1) sheep and sheep products are important goods;
(2) the production of sheep and sheep products play a
significant role in the economy of the United States in that sheep
and sheep products are produced throughout the United States and
used by millions of people throughout the United States and foreign
countries;
(3) sheep and sheep products must be high quality, readily
available, handled properly, and marketed efficiently to ensure that
consumers have an adequate supply of sheep products;
(4) the maintenance and expansion of existing markets and
development of new markets for sheep and sheep products are vital to
the welfare of sheep producers and persons concerned with marketing,
using, and producing sheep and sheep products, as well as to the
general economy of the United States, and necessary to ensure the
ready availability and efficient marketing of sheep and sheep
products;
(5) there exist established State organizations conducting sheep
and sheep product promotion, research, and industry and consumer
education programs that are invaluable to the efforts of promoting
the consumption of sheep and sheep products;
(6) the cooperative development, financing, and implementation
of a coordinated national program of sheep and sheep product
promotion, research, consumer information, education, and industry
information are necessary to maintain and expand existing markets
and develop new markets for sheep and sheep products; and
(7) sheep and sheep products move in interstate and foreign
commerce, and sheep and sheep products that do not move in such
channels of commerce directly burden or affect interstate commerce
in sheep and sheep products.
(b) Policy
It is the policy of Congress that it is in the public interest to
authorize the establishment, through the exercise of the powers provided
in this chapter, of an orderly procedure for developing, financing
(through adequate assessments on sheep and sheep products produced or
imported into the United States), and carrying out an effective,
continuous, coordinated program of promotion, research, consumer
information, education, and industry information designed to--
(1) strengthen the position of the sheep and sheep product
industry in the marketplace;
(2) maintain and expand existing domestic and foreign markets
and uses for sheep and sheep products; and
(3) develop new markets and uses for sheep and sheep products.
(c) Construction
Nothing in this chapter provides for the control of production, or
otherwise limits, the right of any person to produce sheep or sheep
products.
(Pub. L. 103-407, Sec. 2, Oct. 22, 1994, 108 Stat. 4210.)
Short Title
Section 1 of Pub. L. 103-407 provided that: ``This Act [enacting
this chapter] may be cited as the `Sheep Promotion, Research, and
Information Act of 1994'.''
Wool Research, Development, and Promotion Trust Fund
Pub. L. 106-200, title V, Sec. 506, May 18, 2000, 114 Stat. 303, as
amended by Pub. L. 107-210, div. E, title L, Sec. 5102(c)(2), Aug. 6,
2002, 116 Stat. 1047, provided that:
``(a) Establishment.--There is hereby established within the
Treasury of the United States a trust fund to be known as the Wool
Research, Development, and Promotion Trust Fund (hereafter in this
section referred to as the `Trust Fund'), consisting of such amounts as
may be transferred to the Trust Fund under subsection (b)(1) and any
amounts as may be credited to the Trust Fund under subsection (c)(2).
``(b) Transfer of Amounts.--
``(1) In general.--The Secretary of the Treasury shall transfer
to the Trust Fund out of the general fund of the Treasury of the
United States amounts determined by the Secretary of the Treasury to
be equivalent to the amounts received into such general fund that
are attributable to the duty received on articles under chapters 51
and 52 of the Harmonized Tariff Schedule of the United States [see
Publication of Harmonized Tariff Schedule note set out under section
1202 of Title 19, Customs Duties], subject to the limitation in
paragraph (2).
``(2) Limitation.--The Secretary shall not transfer more than
$2,250,000 to the Trust Fund in any fiscal year.
``(3) Transfers based on estimates.--The amounts required to be
transferred under paragraph (1) shall be transferred at least
quarterly from the general fund of the Treasury of the United States
to the Trust Fund on the basis of estimates made by the Secretary of
the Treasury of the amounts referred to in paragraph (1) that are
received into the Treasury. Proper adjustments shall be made in the
amounts subsequently transferred to the extent prior estimates were
in excess of, or less than, the amounts required to be transferred.
``(c) Investment of Trust Fund.--
``(1) In general.--It shall be the duty of the Secretary of the
Treasury to invest such portion of the Trust Fund as is not, in the
Secretary's judgment, required to meet current withdrawals. Such
investments may be made only in interest-bearing obligations of the
United States or in obligations guaranteed as to both principal and
interest by the United States. For such purpose, such obligations
may be acquired on original issue at the issue price or by purchase
of outstanding obligations at the market price. Any obligation
acquired by the Trust Fund may be sold by the Secretary of the
Treasury at the market price.
``(2) Interest and proceeds from sale or redemption of
obligations.--The interest on, and the proceeds from the sale or
redemption of, any obligations held in the Trust Fund shall be
credited to and form a part of the Trust Fund.
``(d) Availability of Amounts from Trust Fund.--From amounts
available in the Trust Fund (including any amounts not obligated in
previous fiscal years), the Secretary of Agriculture is authorized to
provide grants to a nationally-recognized council established for the
development of the United States wool market for the following purposes:
``(1) Assist United States wool producers to improve the quality
of wool produced in the United States, including to improve wool
production methods.
``(2) Disseminate information on improvements described in
paragraph (1) to United States wool producers generally.
``(3) Assist United States wool producers in the development and
promotion of the wool market.
``(e) Reports to Congress.--The Secretary of the Treasury, in
consultation with the Secretary of Agriculture, shall prepare and submit
to Congress an annual report on the financial condition and the results
of the operations of the Trust Fund, including a description of the use
of amounts of grants provided under subsection (d), during the preceding
fiscal year and on its expected condition and operations during the next
fiscal year.
``(f) Sunset Provision.--Effective January 1, 2006, the Trust Fund
shall be abolished and all amounts in the Trust Fund on such date shall
be transferred to the general fund of the Treasury of the United
States.''
