2013 US Code
Title 7 - Agriculture
Chapter 106 - COMMODITY PROGRAMS (§§ 7901 - 8002)
Subchapter II - MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS (§§ 7931 - 7939)
Section 7938 - Special competitive provisions for extra long staple cotton
| Publication Title | United States Code, 2012 Edition, Supplement 1, Title 7 - AGRICULTURE |
| Category | Bills and Statutes |
| Collection | United States Code |
| SuDoc Class Number | Y 1.2/5: |
| Contained Within | Title 7 - AGRICULTURE CHAPTER 106 - COMMODITY PROGRAMS SUBCHAPTER II - MARKETING ASSISTANCE LOANS AND LOAN DEFICIENCY PAYMENTS Sec. 7938 - Special competitive provisions for extra long staple cotton |
| Contains | section 7938 |
| Date | 2013 |
| Laws in Effect as of Date | January 16, 2014 |
| Positive Law | No |
| Disposition | standard |
| Source Credit | Pub. L. 107-171, title I, §1208, May 13, 2002, 116 Stat. 164. |
| Statutes at Large Reference | 116 Stat. 164 |
| Public Law Reference | Public Law 107-171 |
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Notwithstanding any other provision of law, during the period beginning on May 13, 2002, 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; triggerUnder 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 recipientsThe 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 amountPayments 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 paymentPayments 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. 107–171, title I, §1208, May 13, 2002, 116 Stat. 164.)
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