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2026-07-06 09:52:37 -04:00

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LegalText 7 U.S.C. § 7938 Special competitive provisions for extra long staple cotton us united_states_code code_section 7 AGRICULTURE 106 COMMODITY PROGRAMS 7938 7 U.S.C. § 7938 current 119-100 2026-06-26 official https://uscode.house.gov/download/releasepoints/us/pl/119/100/xml_usc07@119-100.zip /us/usc/t7/s7938 data/legal/raw/us/code/title-07/usc07.xml 00c5816884297c6ecdb4c0d6ed22e35aca7ee80603bb8f482cee80f1ed108e76 50edab1679a711653797362c0aeb8f2273303fe473fb7fa16df1ee76bdd6e984 b9abd66319625625ac2f2e8e09ac0d9bf0af7b474330d17a17fc520bf20fef23 2026-07-04 official
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7 U.S.C. § 7938 - Special competitive provisions for extra long staple cotton

Text

(a) Competitiveness program 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; 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.

(Pub. L. 107171, title I, § 1208, May 13, 2002, 116 Stat. 164.)