12 2 STA T . 1 69 2 PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 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)COMPETI TI V E N E S S PR O G R A M .—Notwi t hs ta nd in g an y oth erp ro v ision o fl aw , d u ring the period b eginning on the date of ena c t -m ent of this A ct through J uly 31 , 20 13, the S ecretary shall carry out a program— (1) to maintain and e x pand the domestic use of extra long staple cotton produced in the U nited 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 UN D ER PROGRAM; T RIGGER.—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 (ad j usted to United States q uality and location and for other factors affecting the competitiveness of such cotton), as determined by the Secretary, is below the prevailing United States price for a competing growth of extra long staple cotton; and (2) 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 less than 134 percent of the loan rate for extra long staple cotton. (c) EL IGI B LE R E C IPIENTS.—The Secretary shall make payments available under this section to domestic users of extra long staple cotton produced in the United States and exporters of extra long staple cotton produced in the United States that enter into an agreement with the Commodity Credit Corporation to participate in the program under this section. (d) PAYMENT AMO U NT.—Payments under this section shall be based on the amount of the difference in the prices referred to in subsection (b)(1) during the fourth week of the consecutive 4- week period multiplied by the amount of documented purchases by domestic users and sales for export by exporters made in the week following such a consecutive 4-week period. SEC. 120 9 . AVAILA B ILIT Y OF RECO U RSE LOANS FOR H IGH MOISTURE FEE D GRAINS AND SEED COTTON. (a) H IG HM OISTURE F EED G RAINS.— (1) D E F INITION OF HIGH MOISTURE STATE.— I n this sub- section, the term ‘ ‘high moisture state ’ ’ means corn or grain sorghum having a moisture content in excess of Commodity Credit Corporation standards for marketing assistance loans made by the Secretary under section 1201. (2) RECOURSE LOANS AVAILABLE.—For each of the 200 8 through 2012 crops of corn and grain sorghum, the Secretary shall make available recourse loans, as determined by the Secretary, to producers on a farm that— (A) normally harvest all or a portion of their crop of corn or grain sorghum in a high moisture state; ( B ) present— (i) certified scale tickets from an inspected, cer- tified commercial scale, including a licensed warehouse, 7USC8 7 39.Ef f ectiv e da te. T e rm i n ati o n date. 7 USC 8738.
�
