§ 7236a. — Special competitive provisions for extra long staple cotton.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC7236a]
TITLE 7--AGRICULTURE
CHAPTER 100--AGRICULTURAL MARKET TRANSITION
SUBCHAPTER III--NONRECOURSE MARKETING ASSISTANCE LOANS AND LOAN
DEFICIENCY PAYMENTS
Sec. 7236a. Special competitive provisions for extra long staple
cotton
(a) Competitiveness program
Notwithstanding any other provision of law, during the period
beginning on October 1, 1999, and ending on July 31, 2003, the Secretary
shall carry out a program to maintain and expand the domestic use of
extra long staple cotton produced in the United States, to increase
exports of extra long staple cotton produced in the United States, and
to ensure that extra long staple cotton produced in the United States
remains competitive in world markets.
(b) Payments under program; trigger
Under the program, the Secretary shall make payments available under
this section whenever--
(1) for a consecutive 4-week period, the world market price for
the lowest priced competing growth of extra long staple cotton
(adjusted to United States quality and location and for other
factors affecting the competitiveness of such cotton), as determined
by the Secretary, is below the prevailing United States price for a
competing growth of extra long staple cotton; and
(2) the lowest priced competing growth of extra long staple
cotton (adjusted to United States quality and location and for other
factors affecting the competitiveness of such cotton), as determined
by the Secretary, is less than 134 percent of the loan rate for
extra long staple cotton.
(c) Eligible recipients
The Secretary shall make payments available under this section to
domestic users of extra long staple cotton produced in the United States
and exporters of extra long staple cotton produced in the United States
who enter into an agreement with the Commodity Credit Corporation to
participate in the program under this section.
(d) Payment amount
Payments under this section shall be based on the amount of the
difference in the prices referred to in subsection (b)(1) of this
section during the fourth week of the consecutive 4-week period
multiplied by the amount of documented purchases by domestic users and
sales for export by exporters made in the week following such a
consecutive 4-week period.
(e) Form of payment
Payments under this section shall be made through the issuance of
cash or marketing certificates, at the option of eligible recipients of
the payments.
(Pub. L. 104-127, title I, Sec. 136A, as added Pub. L. 106-113, div. B,
Sec. 1000(a)(5) [title I, Sec. 104(c)], Nov. 29, 1999, 113 Stat. 1536,
1501A-291.)
