12 2 STA T . 1 69 1 PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 (C)PREF ERE NTIAL TARIFF TREAT M ENT .—Thequanti t y un d e r a l i m ited g l ob al im p ort quota s hall be c onsidered tobeanin - quota quantity f or purposes of— (i) section 213 (d) of the Caribbean B asin E conomic R eco v ery A ct (1 9U . S .C. 2 70 3(d))
(ii) section 20 4 of the Andean Trade Preference Act (19 U.S.C. 3203); (iii) section 5 03(d) of the Trade Act of 1974 (19 U.S.C. 24 6 3(d)); and (iv) G eneral N ote 3(a)(iv) to the H armoni z ed Tariff Schedule. ( D ) QUO TA ENTR YP ERIO D .— W hen a quota is estab- lished 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. (3)NOO V ERLAP.—Not w ithstanding paragraph (2), a quota period may not be established that overlaps an e x isting quota period or a special quota period established under subsection (a). (c) E C ONOMIC AD J U S TMENT ASSISTANCE TO USERS OF UPLAND COTTON.— (1) I N G ENERAL.—Sub j ect to paragraph (2), the Secretary shall, on a monthly basis, provide economic adjustment assist- ance to domestic users of 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) BEGINNING PERIOD.—During the period beginning on August 1, 200 8 , and ending on J uly 31, 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 acquire, construct, install, modernize, develop, convert, or expand land, plant, buildings, equipment, facilities, or machinery. (4) REVIEW OR AUDIT.—The Secretary may conduct such review 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. Ef f ectiv e da te .
�
