Us Code § 9038 - Special competitive provisions for extra long staple cotton
Full text of Us Code United States Code § 9038 — Special competitive provisions for extra long staple cotton, with citation guidance and answers to common questions.
§ 9038. Special competitive provisions for extra long staple cotton
(a) Competitiveness program
Notwithstanding any other provision of law, during the period beginning on February 7, 2014, through July 31, 2024, 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 113 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.
(Pub. L. 113–79, title I, §1208, Feb. 7, 2014, 128 Stat. 684; Pub. L. 115–334, title I, §1204, Dec. 20, 2018, 132 Stat. 4510.)
Editorial Notes
Amendments
2018—Subsec. (a). Pub. L. 115–334, §1204(a), substituted "2024" for "2019" in introductory provisions.
Subsec. (b)(2). Pub. L. 115–334, §1204(b), substituted "113 percent" for "134 percent".
About This Section
7 U.S.C. § 9038 is part of Title 7 of the United States Code. The United States Code is the official codification of federal statutes maintained by the Office of the Law Revision Counsel of the U.S. House of Representatives. Congress amends the Code through new public laws, which are eventually incorporated into the relevant title.
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