§ 8738. Special competitive provisions for extra long staple cotton

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.

1. 2008

   Pub. L. 110–234 title I § 1208 · 122 Stat. 923

   Enacted · 7 U.S.C. § 8738

   Pub. L. 110–234, title I, § 1208, May 22, 2008, 122 Stat. 963

   Source evidence

   Code source credit
   Pub. L. 110–234, title I, § 1208, May 22, 2008, 122 Stat. 963

   Enacted provision · exact public law section
   SEC. 1208. SPECIAL COMPETITIVE PROVISIONS FOR EXTRA LONG STAPLE COTTON. (a) Competitiveness Program.— Notwithstanding Effective date. Termination date. any other provision of law, during the period beginning on the date of enactment of this Act through July 31, 2013, 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.

1 of 1 references resolved to an enrolled provision