Page:United States Statutes at Large Volume 116 Part 1.djvu/190

 X 116 STAT. 164 PUBLIC LAW 107-171—MAY 13, 2002 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 PERlOD.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 7938. SEC. 1208. SPECIAL COMPETITIVE PROVISIONS FOR EXTRA LONG STAPLE COTTON. (a) COMPETITIVENESS PROGRAM.— Notwithstanding any other provision of law, during the period beginning on the date of the enactment of this Act 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),

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