Page:United States Statutes at Large Volume 122.djvu/1712

 12 2 STA T . 1 689PUBLIC LA W 11 0– 2 4 6 —J U NE 18, 2008 with th eav ai l a b ilit yp e r i odf or the c o m modity e s tablished by the S ecretary for mar k eti ng assistance loans a u thori z ed by this subtitle .( d )PROHIB I T IO N ON C RO PI N SU R A N CE IN D E M NIT Y OR N ON - INSURED CROP A SSISTANCE. — A 20 0 8 through 20 1 2 crop of wheat , barley, oats, or triticale planted on acreage that a producer elects, in the agreement re q uired by subsection (a), to use for the grazing of livestock in lieu of any other harvesting of the crop shall not be eligible for an indemnity under a policy or plan of insurance authorized under the F ederal Crop Insurance Act ( 7U .S.C. 1 5 01 et seq.) or noninsured crop assistance under section 1 96 of the Federal Agriculture Improvement and R eform Act of 1996 (7 U.S.C. 7 3 33). SEC.1207 . S P EC IALM A RK E T I NG L O AN PRO V ISIONS F OR U PLAN D COTTON. (a) SPECIA L IMPORT Q UOTA.— (1) D E F INITION OF SPECIAL IMPORT Q UOTA.—In this sub- section, the term ‘ ‘special import quota ’ ’ means a quantity of imports that is not sub j ect to the over-quota tariff rate of a tariff-rate quota. (2) E STABLISHMENT.— (A) IN G ENERAL.— T he President shall carry out an import quota program during the period beginning on the date of enactment of this Act through J uly 31, 2013, as provided in this subsection. ( B ) PROGRAM REQUIREMENTS.— W henever the Secretary determines and announces that for any consecutive 4 -week period, the Friday through Thursday average price quotation for the lowest-priced United States growth, as quoted for M iddling (M) 1 3⁄ 3 2 -inch cotton, delivered to a definable and significant international market, as deter- mined by the Secretary, e x ceeds the prevailing world market price, there shall immediately be in effect a special import quota. (3) QUANTITY.—The quota shall be equal to 1 week’s consumption of cotton by domestic mills at the seasonally adjusted average rate of the most recent 3 months for which data are available. (4) APPLICATION.—The quota shall apply to upland cotton purchased not later than 90 days after the date of the Sec- retary’s announcement under paragraph (2) and entered into the United States not later than 180 days after that date. (5) OV ERLAP.—A special quota period may be established that overlaps any existing quota period if required by paragraph (2), except that a special quota period may not be established under this subsection if a quota period has been established under subsection (b). (6) PREFERENTIAL TARIFF TREATMENT.—The quantity under a special import quota shall be considered to be an in-quota quantity for purposes of— (A) section 213(d) of the Caribbean Basin Economic Recovery Act (19 U.S.C. 2703(d)) (B) section 204 of the Andean Trade Preference Act (19 U.S.C. 3203); (C) section 503(d) of the Trade Act of 1974 (19 U.S.C. 2463(d)); and Deadlin e s.Pr esiden t . T i m e p eri o d. 7USC8 7 3 7.

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