Page:United States Statutes at Large Volume 122.djvu/986

 12 2 STA T .963PUBLIC LA W 11 0– 23 4—M A Y 22, 200 8(c)ECON O MI C ADJUST M E NT ASSIST A NCE TO U SE R SO F U PL AND C OTTON .— ( 1 ) I N G ENERAL.— Subje c t t opar a g rap h ( 2 ), the Secretar ys ha l l,o n a m onthly bas i s, pro v i d e economic adjustment assist - ance to domestic users o f upland cotton in the form of payments for all documented use of that upland cotton during the previous monthly period regardless of the origin of the upland cotton. (2) V ALUE OF ASSISTANCE.— (A) B EGINNING PERIOD.— D uring the period beginning on August 1, 2 0 0 8, and ending on J uly 3 1, 2012, the value of the assistance provided under paragraph (1) shall be 4 cents per pound. (B) SU B SE Q UENT PERIOD.—Effective beginning on August 1, 2012, the value of the assistance provided under paragraph (1) shall be 3 cents per pound. (3) ALLO W ABLE PURPOSES.—Economic adjustment assist- ance under this subsection shall be made available only to domestic users of upland cotton that certify that the assistance shall be used only to ac q uire, construct, install, moderni z e, develop, convert, or e x pand land, plant, buildings, equipment, facilities, or machinery. (4) R E V IEW OR AUDIT.— T he Secretary may conduct such revie w or audit of the records of a domestic user under this subsection as the Secretary determines necessary to carry out this subsection. ( 5 ) IMPROPER USE OF ASSISTANCE.—If the Secretary deter- mines, after a review or audit of the records of the domestic user, that economic adjustment assistance under this subsection was not used for the purposes specified in paragraph (3), the domestic user shall be— (A) liable to repay the assistance to the Secretary, plus interest, as determined by the Secretary and (B) ineligible to receive assistance under this sub- section for a period of 1 year following the determination of the Secretary. SEC.1208 . S P EC IAL C OM PE T ITI V EP R OVISIO N S F ORE X TRA LON G STAPLE COTTON. (a) COMPETITIVENESS P ROGRAM.— N otwithstanding any other provision of law, during the period beginning on the date of enact- ment of this Act through July 31, 2013, 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 mar k ets. (b) PA Y MENTS 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 Ef f ectiv e da te .T e rm i n ati o n date. 7USC8 7 3 8. Effective date.

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