Title 7 — Agriculture
Chapter 106 — Commodity Programs
§ 7938. Special competitive provisions for extra long staple cotton
Statutory text
Competitiveness program
Notwithstanding any other provision of law, during the period beginning on , through , 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.
Payments under program; trigger
Under the program, the Secretary shall make payments available under this section whenever—
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
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.
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 that enter into an agreement with the Commodity Credit Corporation to participate in the program under this section.
Payment amount
Payments under this section shall be based on the amount of the difference in the prices referred to in subsection (b)(1) 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.
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.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Pub. L. 107–171 title I § 1208 · 116 Stat. 134
Enacted · 7 U.S.C. § 7938
(Pub. L. 107–171, title I, § 1208, May 13, 2002, 116 Stat. 164.)
Source evidence
Code source credit
(Pub. L. 107–171, title I, § 1208, May 13, 2002, 116 Stat. 164.)Enacted provision · exact public law section
SEC. 1208. SPECIAL COMPETITIVE PROVISIONS FOR EXTRA LONG STAPLE COTTON. (a) Competitiveness Program.— Notwithstanding any other provision of law, during the period beginning on the date of the enactment of this Act through July 31, 2008, the Secretary shall carry out a program— (1) to maintain and expand the domestic use of extra long staple cotton produced in the United States; (2) to increase exports of extra long staple cotton produced in the United States; and (3) 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 that 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) 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.
1 of 1 references resolved to an enrolled provision