Page:United States Statutes at Large Volume 97.djvu/527

 PUBLIC LAW 98-88 —AUG. 26, 1983 97 STAT. 495 "(ii) the loan level determined under paragraph (2) of this subsection for such crop, is less than the established price per pound times, in each case, the farm program acreage for extra long staple cotton (determined in accordance with paragraph (6) or paragraph (8)( A) of this subsection, but in no event on a greater acreage than the acreage actually planted to extra long staple cotton for harvest), multiplied by the farm program payment yield for extra long staple cotton (deter- mined in accordance with paragraph (7) of this subsection). "(B) The established price for each crop of extra long staple cotton shall be 120 per centum of the loan level determined for such crop under paragraph (2) of this subsection. "(C) If the Secretary establishes an acreage limitation program for a crop of extra long staple cotton in accordance with paragraph (8)(A) of this subsection and determines that deficiency payments will likely be made for such crop of extra long staple cotton under subparagraph (A) of this paragraph, the Secretary may make avail- able advance deficiency payments for such crop to producers who agree to participate in the acreage limitation program. Such ad- vance payments shall be made available to producers as soon as practicable after the producer files a notice of intention to partici- pate in such acreage limitation program and in such amount as the Secretary determines appropriate to encourage adequate participa- tion in such program, except that such amount shall not exceed an amount determined by multiplying (i) the estimated farm program acreage for the crop, by (ii) the farm program payment yield for the crop, by (iii) 50 per centum of the projected payment rate, as determined by the Secretary. In any case in which the deficiency payment payable to a producer for a crop, as finally determined by the Secretary under subparagraph (A) of this paragraph, is less than the amount paid to the producer as an advance deficiency payment under this paragraph, the producer shall refund an amount equal to the difference between the amount advanced and the amount finally determined by the Secretary to be payable to the producer. If the Secretary determines that no deficiency payments are due producers on a crop, the producer who received advanced payments on such crop shall refund such payments. If a producer fails to comply with the requirements under the acreage limitation program after obtaining an advance deficiency payment under this paragraph, the producer shall immediately repay the amount of the advance, plus interest thereon in such amount as the Secretary shall prescribe. "(4) The Secretary shall establish for each crop of extra long staple cotton a national program acreage. Such national program acreage shall be announced by the Secretary not later than Novem- ber 1 of the calendar year preceding the year for which such acreage is established. The Secretary may revise the national program acreage first announced for any crop year for the purpose of deter- mining the allocation factor under paragraph (5) of this subsection if the Secretary determines it necessary based upon the latest infor- mation, and the Secretary shall announce such revised national program acreage as soon as it has been made. The national program acreage shall be the number of harvested acres the Secretary deter- mines (on the basis of the estimated weighted national average of the farm program payment yields for the crop for which the deter- mination is made) will produce the quantity (less imports) of extra long staple cotton that the Secretary estimates will be utilized domestically and for export during the marketing year for such Acreage limitation program. National program acreage.

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