Page:United States Statutes at Large Volume 100 Part 1.djvu/123

 PUBLIC LAW 99-272—APR. 7, 1986

100 STAT. 87

(A) by striking out "The national marketing quota" in the first sentence and inserting in lieu thereof "(1) Except as provided in paragraph (3), the national marketing quota"; (B) by striking out the second sentence; (C) by designating the third sentence as paragraph (2); and (D) by adding at the end thereof the following new paragraphs: "(3)(A) For the 1986 and each subsequent crop of Burley tobacco, the national marketing quota for any marketing year shall be the quantity of Burley tobacco, as determined by the Secretary, that is not more than 103 percent nor less than 97 percent of the total of— "(i) the aggregate of the quantities of Burley tobacco that domestic manufacturers of cigarettes estimate the manufacturers intend to purchase on the United States auction markets or from producers during the marketing year, as compiled and determined under section 320A; "(ii) the average annual quantity of Burley tobacco exported Exports, from the United States during the 3 marketing years immediately preceding the marketing year for which the determination is being made; and "(iii) the quantity, if any, of Burley tobacco that the Loans. Secretary, in the discretion of the Secretary, determines is necessary to increase or decrease the inventories of the producer-owned cooperative marketing associations that have entered into loan agreements with the Commodity Credit Corporation to make price support available to producers of Burley tobacco to establish or maintain such inventories, in the aggregate, at the reserve stock level for Burley tobacco. "(B) In determining the quantity of Burley tobacco necessary to establish or maintain the inventories of the producer associations at the reserve stock level under subparagraph (AKiii)— "(i) the Secretary shall provide for initially attaining the reserve stock level over a period of 5 years; and "(ii) any downward adjustment in such inventories of Burley tobacco may not exceed the greater of— "(I) 35,000,000 pounds; or "(II) 50 percent of the quantity by which— "(aa) the total inventories of Burley tobacco of the producer-owned cooperative marketing associations that have entered into loan agreements with the Commodity Credit Corporation to make price support available to producers of Burley tobacco; exceed "(bb) the reserve stock level for Burley tobacco. "(C) Notwithstanding any other provision of law— "(i) the national marketing quota for Burley tobacco for each of the 1986 through 1989 marketing years for such tobacco shall not be less than 94 percent of the national marketing quota for such tobacco for the preceding marketing year; and "(ii) the national marketing quota for Burley tobacco for each of the 1990 through 1993 marketing years for such tobacco shall not be less than 90 percent of the national marketing quota for such tobacco for the preceding marketing year."; and (2) by inserting ", except in the case of Burley tobacco," after "Provided, That" in the fourth sentence of subsection (e).

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