Page:United States Statutes at Large Volume 78.djvu/218

 176

PUBLIC LAW 88-297-APR. 11, 1964

[78 STAT.

he finds will not increase the carryover of upland cotton at the beginning of the marketing year for the next succeeding crop above one million bales less than the carryover on the same date one year earlier, if the carryover on such earlier date exceeds eight million bales. Such export market acreage shall be apportioned to the States on the basis of the State acreage allotments established under section 344 and apportioned by the States to farms receiving allotments under section 344, pursuant to regulations issued by the Secretary, after considering applications for such acreage filed with the county committee of the county in which the farm is located. The 'export market acreage' on any farm shall be the number of acres, not exceeding the maximum export market acreage for the farm established pursuant to this subsection, by which the acreage planted to cotton on the farm exceeds the farm acreage allotment. For purposes of sections 345 and 374 of 7\js^c*'i3^45** ^^^^ ^^^ ^^^ ^ provisions of any law requiring compliance with a 52 Stat. 65;' farm acreage allotment as a condition of eligibility for price support AS Q!^1* Q ^ ^ ' ^^ payments under any farm program, the farm acreage allotment for 68 Stat. 904 farms with export market acreage shall be the sum oi the farm acre7 USC 1374 age allotment established under section 344 and the maximum export market acreage. Export market acreage shall be in addition to the county, State, and National acreage allotments and shall not be taken into account in establishing future State, county, and farm acreage allotments. The provisions of this section shall not apply to extralong-staple cotton or to any farm which receives price support under Ante, p. 174. sectioH 103(b) of the Agricultural Act of 1949, as amended. " (b) The producers on any farm on which there is export market acreage or the purchasers of cotton produced thereon shall, under regulations issued by the Secretary, furnish a bond or other undertaking prescribed by the Secretary providing for the exportation, without benefit of any Government cotton export subsidy and within such period of time as the Secretary may specify, of a quantity of cotton X>roduced on the farm equal to the average yield for the farm multiplied by the export market acreage as determined pursuant to regulations issued by the Secretary. The bond or other undertaking given pursuant to this section shall provide that, upon failure to comply with the terms and conditions thereof, the person furnishing such bond or other undertaking shall be liable for liquidated damages in an amount which the Secretary determines and specifies in such undertaking will approximate the amount payable on excess cotton under section 346(a). The Secretary may, in lieu of the furnishing of a bond or other undertaking, provide for the payment of an amount equal to that which would be payable as liquidated damages under such bond or other undertaking. If such bond or other undertaking is not furnished, or if payment in lieu thereof is not made as provided herein, at such time and in the manner required by regulations of the Secretary, or if the acreage planted to cotton on the farm exceeds the farm acreage allot52 Stat. 57,203. jjient established under the provisions of section 344 by more than the maximum export market acreage, the farm acreage allotment shall be the acreage so established under section 344. Amounts collected by the Secretary under this section shall be remitted to the Commodity Credit Corporation and used by the Corporation to defray costs of encouraging export sales of cotton under section 203 of the Agriculrulc'"1853' tural Act of 1956, as amended." 7 USC 1376! (2) Section 376 of the Act is amended by adding at the end thereof the following: "This section also shall be applicable to liquidated ^3 Stat. 670, damages provided for pursuant to section 349 of this title."

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