Page:United States Statutes at Large Volume 110 Part 1.djvu/936

 110 STAT. 912 PUBLIC LAW 104-127—APR. 4, 1996 months, the quantity of the quota next established under this subsection shall be the smaller of 21 days of domestic mill consumption calculated under subparagraph (A) or the quantity required to increase the supply to 130 percent of the demand. (C) PREFERENTIAL TARIFF TREATMENT.—The quantity under a limited global import quota shall be considered to be an in-quota quantity for purposes of— (i) section 213(d) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703(d)); (ii) section 204 of the Andean Trade Preference Act (19 U.S.C. 3203); (iii) section 503(d) of the Trade Act of 1974 (19 U.S.C. 2463(d)); and (iv) General Note 3(a)(iv) to the Harmonized Tariff Schedule. (D) DEFINITIONS.—In this subsection: (i) SUPPLY. —The term "supply" means, using the latest official data of the Bureau of the Census, the Department of Agriculture, and the Department of the Treasury— (I) the carry-over of upland cotton at the beginning of the marketing year (adjusted to 480-pound bales) in which the quota is established; (II) production of the current crop; and (III) imports to the latest date available during the marketing year. (ii) DEMAND. —The term "demand" means— (I) the average seasonally adjusted annual rate of domestic mill consumption during the most recent 3 months for which data are available; and (II) the larger of— (aa) average exports of upland cotton during the preceding 6 marketing years; or (bb) cumulative exports of upland cotton plus outstanding export sales for the marketing year in which the quota is established, (iii) LIMITED GLOBAL IMPORT QUOTA.— The term "limited global import quota" means a quantity of imports that is not subject to the over-quota tariff rate of a tariff-rate quota. (E) QUOTA ENTRY PERIOD.— When a quota is established under this subsection, cotton may be entered under the quota during the 90-day period beginning on the date the quota is established by the Secretary. (2) No OVERLAP. —Notwithstanding paragraph (1), a quota period may not be established that overlaps an existing quota period or a special quota period established under subsection (b). 7 USC 7237. SEC. 137. AVAILABILITY OF RECOURSE LOANS FOR HIGH MOISTURE FEED GRAINS AND SEED COTTON. (a) HIGH MOISTURE FEED GRAINS. — (1) RECOURSE LOANS AVAILABLE. —For each of the 1996 through 2002 crops of corn and grain sorghum, the Secretary shall make available recourse loans, as determined by the

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