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7 U.S.C. § 7236 — Special marketing loan provisions for upland cotton
Federal law — U.S. Code and appendices · legal_authorities
**(a) Cotton user marketing certificates**
(1) **Issuance** — During the period ending July 31, 2003, the Secretary shall issue marketing certificates or cash payments, at the option of the recipient, to domestic users and exporters for documented purchases by domestic users and sales for export by exporters made in the week following a consecutive 4-week period in which—
(A) the Friday through Thursday average price quotation for the lowest-priced United States growth, as quoted for Middling (M) 13⁄32-inch cotton, delivered C.I.F. Northern Europe exceeds the Northern Europe price by more than 1.25 cents per pound; and
(B) the prevailing world market price for upland cotton (adjusted to United States quality and location) does not exceed 134 percent of the loan rate for upland cotton established under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim).
(2) **Value of certificates or payments** — The value of the marketing certificates or cash payments shall be based on the amount of the difference (reduced by 1.25 cents per pound) in the prices during the 4th week of the consecutive 4-week period multiplied by the quantity of upland cotton included in the documented sales.
(3) **Administration of marketing certificates**
(A) *Redemption, marketing, or exchange* — The Secretary shall establish procedures for redeeming marketing certificates for cash or marketing or exchange of the certificates for agricultural commodities owned by the Commodity Credit Corporation or pledged to the Commodity Credit Corporation as collateral for a loan in such manner, and at such price levels, as the Secretary determines will best effectuate the purposes of cotton user marketing certificates, includ
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Source file: Laws/federal/codes/united-states-code/title-7/section-7236-special-marketing-loan-provisions-for-upland-cotton--ee1b603882.md
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Source location: Title 7, Chapter 100, § 7236; chapter-100-agricultural-market-transition.md
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**(a) Cotton user marketing certificates**
(1) **Issuance** — During the period ending July 31, 2003, the Secretary shall issue marketing certificates or cash payments, at the option of the recipient, to domestic users and exporters for documented purchases by domestic users and sales for export by exporters made in the week following a consecutive 4-week period in which—
(A) the Friday through Thursday average price quotation for the lowest-priced United States growth, as quoted for Middling (M) 13⁄32-inch cotton, delivered C.I.F. Northern Europe exceeds the Northern Europe price by more than 1.25 cents per pound; and
(B) the prevailing world market price for upland cotton (adjusted to United States quality and location) does not exceed 134 percent of the loan rate for upland cotton established under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim).
(2) **Value of certificates or payments** — The value of the marketing certificates or cash payments shall be based on the amount of the difference (reduced by 1.25 cents per pound) in the prices during the 4th week of the consecutive 4-week period multiplied by the quantity of upland cotton included in the documented sales.
(3) **Administration of marketing certificates**
(A) *Redemption, marketing, or exchange* — The Secretary shall establish procedures for redeeming marketing certificates for cash or marketing or exchange of the certificates for agricultural commodities owned by the Commodity Credit Corporation or pledged to the Commodity Credit Corporation as collateral for a loan in such manner, and at such price levels, as the Secretary determines will best effectuate the purposes of cotton user marketing certificates, including enhancing the competitiveness and marketability of United States cotton. Any price restrictions that would otherwise apply to the disposition of agricultural commodities by the Commodity Credit Corporation shall not apply to the redemption of certificates under this subsection.
(B) *Designation of commodities and products* — To the extent practicable, the Secretary shall permit owners of certificates to designate the commodities and products, including storage sites, the owners would prefer to receive in exchange for certificates.
(C) *Transfers* — Marketing certificates issued to domestic users and exporters of upland cotton may be transferred to other persons in accordance with regulations issued by the Secretary.
**(b) Special import quota**
(1) **Establishment**
(A) *In general* — The President shall carry out an import quota program during the period ending July 31, 2003, as provided in this subsection.
(B) *Program requirements* — Except as provided in subparagraph (C), whenever the Secretary determines and announces that for any consecutive 4-week period, the Friday through Thursday average price quotation for the lowest-priced United States growth, as quoted for Middling (M) 13⁄32-inch cotton, delivered C.I.F. Northern Europe, adjusted for the value of any certificate issued under subsection (a), exceeds the Northern Europe price by more than 1.25 cents per pound, there shall immediately be in effect a special import quota.
(C) *Tight domestic supply* — During any month for which the Secretary estimates the season-ending United States upland cotton stocks-to-use ratio, as determined under subparagraph (D), to be below 16 percent, the Secretary, in making the determination under subparagraph (B), shall not adjust the Friday through Thursday average price quotation for the lowest-priced United States growth, as quoted for Middling (M) 13⁄32-inch cotton, delivered C.I.F. Northern Europe, for the value of any certificates issued under subsection (a).
(D) *Season-ending United States stocks-to-use ratio* — For the purposes of making estimates under subparagraph (C), the Secretary shall, on a monthly basis, estimate and report the season-ending United States upland cotton stocks-to-use ratio, excluding projected raw cotton imports but including the quantity of raw cotton that has been imported into the United States during the marketing year.
(2) **Quantity** — The quota shall be equal to 1 week’s consumption of upland cotton by domestic mills at the seasonally adjusted average rate of the most recent 3 months for which data are available.
(3) **Application** — The quota shall apply to upland cotton purchased not later than 90 days after the date of the Secretary’s announcement under paragraph (1) and entered into the United States not later than 180 days after the date.
(4) **Overlap** — A special quota period may be established that overlaps any existing quota period if required by paragraph (1), except that a special quota period may not be established under this subsection if a quota period has been established under subsection (c).
(5) **Preferential tariff treatment** — The quantity under a special import quota shall be considered to be an in-quota quantity for purposes of—
(A) [section 2703(d) of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2703/d&num=0&edition=prelim);
(B) [section 3203 of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section3203&num=0&edition=prelim);
(C) [section 2463(d) of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2463/d&num=0&edition=prelim); and
(D) General Note 3(a)(iv) to the Harmonized Tariff Schedule.
(6) **“Special import quota” defined** — In this subsection, the term “special import quota” means a quantity of imports that is not subject to the over-quota tariff rate of a tariff-rate quota.
(7) **Limitation** — The quantity of cotton entered into the United States during any marketing year under the special import quota established under this subsection may not exceed the equivalent of 5 week’s consumption of upland cotton by domestic mills at the seasonally adjusted average rate of the 3 months immediately preceding the first special import quota established in any marketing year.
**(c) Limited global import quota for upland cotton**
(1) **In general** — The President shall carry out an import quota program that provides that whenever the Secretary determines and announces that the average price of the base quality of upland cotton, as determined by the Secretary, in the designated spot markets for a month exceeded 130 percent of the average price of such quality of cotton in the markets for the preceding 36 months, notwithstanding any other provision of law, there shall immediately be in effect a limited global import quota subject to the following conditions:
(A) *Quantity* — The quantity of the quota shall be equal to 21 days of domestic mill consumption of upland cotton at the seasonally adjusted average rate of the most recent 3 months for which data are available.
(B) *Quantity if prior quota* — If a quota has been established under this subsection during the preceding 12 months, the quantity of the quota next established under this subsection shall be the smaller of 21 days of domestic mill consumption calculated under subparagraph (A) or the quantity required to increase the supply to 130 percent of the demand.
(C) *Preferential tariff treatment* — The quantity under a limited global import quota shall be considered to be an in-quota quantity for purposes of—
(i) [section 2703(d) of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2703/d&num=0&edition=prelim);
(ii) [section 3203 of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section3203&num=0&edition=prelim);
(iii) [section 2463(d) of title 19](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2463/d&num=0&edition=prelim); and
(iv) General Note 3(a)(iv) to the Harmonized Tariff Schedule.
(D) *Definitions* — In this subsection:
(i) *Supply* — The term “supply” means, using the latest official data of the Bureau of the Census, the Department of Agriculture, and the Department of the Treasury—
(I) the carry-over of upland cotton at the beginning of the marketing year (adjusted to 480-pound bales) in which the quota is established;
(II) production of the current crop; and
(III) imports to the latest date available during the marketing year.
(ii) *Demand* — The term “demand” means—
(I) the average seasonally adjusted annual rate of domestic mill consumption during the most recent 3 months for which data are available; and
(II) the larger of—
(aa) average exports of upland cotton during the preceding 6 marketing years; or
(bb) cumulative exports of upland cotton plus outstanding export sales for the marketing year in which the quota is established.
(iii) *Limited global import quota* — The term “limited global import quota” means a quantity of imports that is not subject to the over-quota tariff rate of a tariff-rate quota.
(E) *Quota entry period* — When a quota is established 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.
(2) **No overlap** — Notwithstanding paragraph (1), a quota period may not be established that overlaps an existing quota period or a special quota period established under subsection (b).
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Wheat**
(1) **Loan rate** — Subject to paragraph (2), the loan rate for a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) for wheat shall be—
(A) not less than 85 percent of the simple average price received by producers of wheat, as determined by the Secretary, during the marketing years for the immediately preceding 5 crops of wheat, excluding the year in which the average price was the highest and the year in which the average price was the lowest in the period; but
(B) not more than $2.58 per bushel.
(2) **Stocks to use ratio adjustment** — If the Secretary estimates for any marketing year that the ratio of ending stocks of wheat to total use for the marketing year will be—
(A) equal to or greater than 30 percent, the Secretary may reduce the loan rate for wheat for the corresponding crop by an amount not to exceed 10 percent in any year;
(B) less than 30 percent but not less than 15 percent, the Secretary may reduce the loan rate for wheat for the corresponding crop by an amount not to exceed 5 percent in any year; or
(C) less than 15 percent, the Secretary may not reduce the loan rate for wheat for the corresponding crop.
**(b) Feed grains**
(1) **Loan rate for corn** — Subject to paragraph (2), the loan rate for a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) for corn shall be—
(A) not less than 85 percent of the simple average price received by producers of corn, as determined by the Secretary, during the marketing years for the immediately preceding 5 crops of corn, excluding the year in which the average
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7232
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Federal law — U.S. Code and appendices · legal_authorities
### Statutory Notes
#### Publication of Harmonized Tariff Schedule
The Harmonized Tariff Schedule of the United States is not published in the Code. A current version of the Harmonized Tariff Schedule is maintained and published periodically by the United States International Trade Commission and is available at their website and for sale by the Superintendent of Documents, U.S. Government Publishing Office, Washington, D.C. 20402.
#### Reference to Tariff Schedules To Be Treated as Reference to Harmonized Tariff Schedule
Reference in any law to “Tariff Schedules of the United States”, “the Tariff Schedules”, “such Schedules”, and any other general reference to the old Schedules to be treated as reference to Harmonized Tariff Schedule, see [section 3012 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section3012&num=0&edition=prelim).
Source: Supplied U.S. Code snapshot — release unconfirmed · 19 U.S.C. § 1202
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Federal law — U.S. Code and appendices · legal_authorities
**(a) In general**
(1) Unless otherwise excluded from eligibility (or otherwise provided for) by this chapter, the duty-free treatment (or preferential treatment) provided under this chapter shall apply to any article which is the growth, product, or manufacture of a beneficiary country if—
(A) that article is imported directly from a beneficiary country into the customs territory of the United States; and
(B) the sum of—
(i) the cost or value of the materials produced in a beneficiary country or 2 or more beneficiary countries under this chapter, or a beneficiary country under the Caribbean Basin Economic Recovery Act [[19 U.S.C. 2701](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title19-section2701&num=0&edition=prelim) et seq.] or 2 or more such countries, plus
(ii) the direct costs of processing operations performed in a beneficiary country or countries (under this chapter or the Caribbean Basin Economic Recovery Act),
is not less than 35 percent of the appraised value of such article at the time it is entered.
For purposes of determining the percentage referred to in subparagraph (B), the term “beneficiary country” includes the Commonwealth of Puerto Rico and the United States Virgin Islands. If the cost or value of materials produced in the customs territory of the United States (other than the Commonwealth of Puerto Rico) is included with respect to an article to which this paragraph applies, an amount not to exceed 15 percent of the appraised value of the article at the time it is entered that is attributed to such United States cost or value may be applied toward determining the percentage referred to in subparagraph (B).
(2) The Secretary of the Treasury shall prescribe such regulations as may be necessary to carry out p
Source: Supplied U.S. Code snapshot — release unconfirmed · 19 U.S.C. § 3203
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Repayment rates for wheat, feed grains, and oilseeds** The Secretary shall permit a producer to repay a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) for wheat, corn, grain sorghum, barley, oats, and oilseeds at a rate that is the lesser of—
(1) the loan rate established for the commodity under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim), plus interest (as determined by the Secretary); or
(2) a rate that the Secretary determines will—
(A) minimize potential loan forfeitures;
(B) minimize the accumulation of stocks of the commodity by the Federal Government;
(C) minimize the cost incurred by the Federal Government in storing the commodity; and
(D) allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally.
**(b) Repayment rates for upland cotton and rice** The Secretary shall permit producers to repay a marketing assistance loan under [section 7231 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7231&num=0&edition=prelim) for upland cotton and rice at a rate that is the lesser of—
(1) the loan rate established for the commodity under [section 7232 of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section7232&num=0&edition=prelim), plus interest (as determined by the Secretary); or
(2) the prevailing world market price for the commodity (adjusted to United States quality and location), as determined by the Secretary.
**(c) Repayment rates for extra long staple cotton** Repayment of a marketing assistance l
Source: Supplied U.S. Code snapshot — release unconfirmed · 7 U.S.C. § 7234
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Federal law — U.S. Code and appendices · legal_authorities
Page 1978
TITLE 7—AGRICULTURE
§ 7235
ton (adjusted to United States quality and lo-
cation) established under subsection (d) shall
be further adjusted if—
(A) the adjusted prevailing world market
price is less than 115 percent of the loan rate
for upland cotton established under section
7232 of this title, as determined by the Sec-
retary; and
(B) the Friday through Thursday average
price quotation for the lowest-priced United
States growth as quoted for Middling (M)
13⁄32-inch cotton delivered C.I.F. Northern
Europe is greater than the Friday through
Thursday average price of the 5 lowest-
priced growths of upland cotton, as quoted
for Middling (M) 13⁄32-inch cotton, delivered
C.I.F. Northern Europe (referred to in this
section as the ‘‘Northern Europe price’’).
(2) Further adjustment
Except as provided in paragraph (3), the ad-
justed prevailing world market price for up-
land cotton shall be further adjusted on the
basis of some or all of the following data, as
available:
(A) The United States share of world ex-
ports.
(B) The current level of cotton export sales
and cotton export shipments.
(C) Other data determined by the Sec-
retary to be relevant in establishing an ac-
curate prevailing world market price for up-
land cotton (adjusted to United States qual-
ity and location).
(3) Limitation on further adjustment
The adjustment under paragraph (2) may not
exceed the difference between—
(A) the Friday through Thursday average
price for the lowest-priced United States
growth as quoted for Middling 13⁄32-inch cot-
ton delivered C.I.F. Northern Europe; and
(B) the Northern Europe price.
(Pub. L. 104–127, title I, § 134, Apr. 4, 1996, 110
Stat. 908.)
§ 7235. Loan deficiency payments
(a) Availability of loan deficiency payments
Except as
Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 7236
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