USC Subchapter II

in effect

7 U.S.C. § 9031 Availability of nonrecourse marketing assistance loans for loan commodities

(a) Definition of loan commodityIn this subchapter, the term “loan commodity” means wheat, corn, grain sorghum, barley, oats, upland cotton, extra long staple cotton, long grain rice, medium grain rice, peanuts, soybeans, other oilseeds, graded wool, nongraded wool, mohair, honey, dry peas, lentils, small chickpeas, and large chickpeas. (b) Nonrecourse loans available(1) In generalFor each of the 2014 through 2031 crops of each loan commodity, the Secretary shall make available to producers on a farm nonrecourse marketing assistance loans for loan commodities produced on the farm. (2) Terms and conditionsThe marketing assistance loans shall be made under terms and conditions that are prescribed by the Secretary and at the loan rate established under section 9032 of this title for the loan commodity. (c) Eligible productionThe producers on a farm shall be eligible for a marketing assistance loan under subsection (b) for any quantity of a loan commodity produced on the farm. (d) Compliance with conservation and wetlands requirementsAs a condition of the receipt of a marketing assistance loan under subsection (b), the producer shall comply with applicable conservation requirements under subtitle B of title XII of the Food Security Act of 1985 (16 U.S.C. 3811 et seq.) and applicable wetland protection requirements under subtitle C of title XII of that Act (16 U.S.C. 3821 et seq.) during the term of the loan. (e) Special rules for peanuts(1) In generalThis subsection shall apply only to producers of peanuts. (2) Options for obtaining loanA marketing assistance loan under this section, and loan deficiency payments under section 9035 of this title, may be obtained at the option of the producers on a farm through—(A) a designated marketing association or marketing cooperative of producers that is approved by the Secretary; or (B) the Farm Service Agency. (3) Storage of loan peanutsAs a condition on the approval by the Secretary of an individual or entity to provide storage for peanuts for which a marketing assistance loan is made under this section, the individual or entity shall agree—(A) to provide the storage on a nondiscriminatory basis; and (B) to comply with such additional requirements as the Secretary considers appropriate to accomplish the purposes of this section and promote fairness in the administration of the benefits of this section. (4) Storage, handling, and associated costs(A) In generalTo ensure proper storage of peanuts for which a loan is made under this section, the Secretary shall pay handling and other associated costs (other than storage costs) incurred at the time at which the peanuts are placed under loan, as determined by the Secretary. (B) Redemption and forfeitureThe Secretary shall—(i) require the repayment of handling and other associated costs paid under subparagraph (A) for all peanuts pledged as collateral for a loan that is redeemed under this section; and (ii) pay storage, handling, and other associated costs for all peanuts pledged as collateral that are forfeited under this section. (5) MarketingA marketing association or cooperative may market peanuts for which a loan is made under this section in any manner that conforms to consumer needs, including the separation of peanuts by type and quality. (6) Reimbursable agreements and payment of administrative expensesThe Secretary may implement any reimbursable agreements or provide for the payment of administrative expenses under this subsection only in a manner that is consistent with those activities in regard to other loan commodities.

7 U.S.C. § 9032 Loan rates for nonrecourse marketing assistance loans

(a) 2014 through 2018 crop yearsFor purposes of each of the 2014 through 2018 crop years, the loan rate for a marketing assistance loan under section 9031 of this title for a loan commodity shall be equal to the following:(1) In the case of wheat, $2.94 per bushel. (2) In the case of corn, $1.95 per bushel. (3) In the case of grain sorghum, $1.95 per bushel. (4) In the case of barley, $1.95 per bushel. (5) In the case of oats, $1.39 per bushel. (6) In the case of base quality of upland cotton, for each of the 2014 through 2018 crop years, the simple average of the adjusted prevailing world price for the 2 immediately preceding marketing years, as determined by the Secretary and announced October 1 preceding the next domestic plantings, but in no case less than $0.45 per pound or more than $0.52 per pound. (7) In the case of extra long staple cotton, $0.7977 per pound. (8) In the case of long grain rice, $6.50 per hundredweight. (9) In the case of medium grain rice, $6.50 per hundredweight. (10) In the case of soybeans, $5.00 per bushel. (11) In the case of other oilseeds, $10.09 per hundredweight for each of the following kinds of oilseeds:(A) Sunflower seed. (B) Rapeseed. (C) Canola. (D) Safflower. (E) Flaxseed. (F) Mustard seed. (G) Crambe. (H) Sesame seed. (I) Other oilseeds designated by the Secretary. (12) In the case of dry peas, $5.40 per hundredweight. (13) In the case of lentils, $11.28 per hundredweight. (14) In the case of small chickpeas, $7.43 per hundredweight. (15) In the case of large chickpeas, $11.28 per hundredweight. (16) In the case of graded wool, $1.15 per pound. (17) In the case of nongraded wool, $0.40 per pound. (18) In the case of mohair, $4.20 per pound. (19) In the case of honey, $0.69 per pound. (20) In the case of peanuts, $355 per ton. (b) 2019 through 2025 crop yearsFor purposes of each of the 2019 through 2025 crop years, the loan rate for a marketing assistance loan under section 9031 of this title for a loan commodity shall be equal to the following:(1) In the case of wheat, $3.38 per bushel. (2) In the case of corn, $2.20 per bushel. (3) In the case of grain sorghum, $2.20 per bushel. (4) In the case of barley, $2.50 per bushel. (5) In the case of oats, $2.00 per bushel. (6)(A) Subject to subparagraphs (B) and (C), in the case of base quality of upland cotton, the simple average of the adjusted prevailing world price for the 2 immediately preceding marketing years, as determined by the Secretary and announced October 1 preceding the next domestic planting. (B) Except as provided in subparagraph (C), the loan rate determined under subparagraph (A) may not equal less than an amount equal to 98 percent of the loan rate for base quality of upland cotton for the preceding year. (C) The loan rate determined under subparagraph (A) may not be equal to an amount—(i) less than $0.45 per pound; or (ii) more than $0.52 per pound. (7) In the case of extra long staple cotton, $0.95 per pound. (8) In the case of long grain rice, $7.00 per hundredweight. (9) In the case of medium grain rice, $7.00 per hundredweight. (10) In the case of soybeans, $6.20 per bushel. (11) In the case of other oilseeds, $10.09 per hundredweight for each of the following kinds of oilseeds:(A) Sunflower seed. (B) Rapeseed. (C) Canola. (D) Safflower. (E) Flaxseed. (F) Mustard seed. (G) Crambe. (H) Sesame seed. (I) Other oilseeds designated by the Secretary. (12) In the case of dry peas, $6.15 per hundredweight. (13) In the case of lentils, $13.00 per hundredweight. (14) In the case of small chickpeas, $10.00 per hundredweight. (15) In the case of large chickpeas, $14.00 per hundredweight. (16) In the case of graded wool, $1.15 per pound. (17) In the case of nongraded wool, $0.40 per pound. (18) In the case of mohair, $4.20 per pound. (19) In the case of honey, $0.69 per pound. (20) In the case of peanuts, $355 per ton. (c) 2026 through 2031 crop yearsFor purposes of each of the 2026 through 2031 crop years, the loan rate for a marketing assistance loan under section 9031 of this title for a loan commodity shall be equal to the following:(1) In the case of wheat, $3.72 per bushel. (2) In the case of corn, $2.42 per bushel. (3) In the case of grain sorghum, $2.42 per bushel. (4) In the case of barley, $2.75 per bushel. (5) In the case of oats, $2.20 per bushel. (6) In the case of upland cotton, $0.55 per pound. (7) In the case of extra long staple cotton, $1.00 per pound. (8) In the case of long grain rice, $7.70 per hundredweight. (9) In the case of medium grain rice, $7.70 per hundredweight. (10) In the case of soybeans, $6.82 per bushel. (11) In the case of other oilseeds, $11.10 per hundredweight for each of the following kinds of oilseeds:(A) Sunflower seed. (B) Rapeseed. (C) Canola. (D) Safflower. (E) Flaxseed. (F) Mustard seed. (G) Crambe. (H) Sesame seed. (I) Other oilseeds designated by the Secretary. (12) In the case of dry peas, $6.87 per hundredweight. (13) In the case of lentils, $14.30 per hundredweight. (14) In the case of small chickpeas, $11.00 per hundredweight. (15) In the case of large chickpeas, $15.40 per hundredweight. (16) In the case of graded wool, $1.60 per pound. (17) In the case of nongraded wool, $0.55 per pound. (18) In the case of mohair, $5.00 per pound. (19) In the case of honey, $1.50 per pound. (20) In the case of peanuts, $390 per ton. (d) Single county loan rate for other oilseedsThe Secretary shall establish a single loan rate in each county for each kind of other oilseeds described in subsections (a)(11), (b)(11), and (c)(11). (e) Seed cotton(1) In generalFor purposes of section 9016 (b)(2) of this title and paragraphs (1)(B)(ii) and (2)(A)(ii)(II) of section 9017(b) of this title, the loan rate for seed cotton shall be deemed to be equal to $0.30 per pound. (2) EffectNothing in this subsection authorizes any nonrecourse marketing assistance loan under this subchapter for seed cotton.

7 U.S.C. § 9033 Term of loans

(a) Term of loanIn the case of each loan commodity, a marketing assistance loan under section 9031 of this title shall have a term of 9 months beginning on the first day of the first month after the month in which the loan is made. (b) Extensions prohibitedThe Secretary may not extend the term of a marketing assistance loan for any loan commodity.

7 U.S.C. § 9034 Repayment of loans

(a) General ruleThe Secretary shall permit the producers on a farm to repay a marketing assistance loan under section 9031 of this title for a loan commodity (other than upland cotton, long grain rice, medium grain rice, extra long staple cotton, peanuts and confectionery and each other kind of sunflower seed (other than oil sunflower seed)) at a rate that is the lesser of—(1) the loan rate established for the commodity under section 9032 of this title, plus interest (determined in accordance with section 7283 of this title); (2) a rate (as determined by the Secretary) that—(A) is calculated based on average market prices for the loan commodity during the preceding 30-day period; and (B) will minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries; or (3) a rate that the Secretary may develop using alternative methods for calculating a repayment rate for a loan commodity 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; (D) allow the commodity produced in the United States to be marketed freely and competitively, both domestically and internationally; and (E) minimize discrepancies in marketing loan benefits across State boundaries and across county boundaries. (b) Repayment rates for upland cotton, long grain rice, and medium grain rice(1) In generalThe Secretary shall permit producers to repay a marketing assistance loan under section 9031 of this title for upland cotton, long grain rice, and medium grain rice at a rate that is the lesser of—(A) the loan rate established for the commodity under section 9032 of this title, plus interest (determined in accordance with section 7283 of this title); or (B)(i) in the case of long grain rice and medium grain rice, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section; or (ii) in the case of upland cotton, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section. (2) Refund for upland cottonIn the case of a repayment for a marketing assistance loan for upland cotton at a rate described in paragraph (1)(B)(ii), the Secretary shall provide to the producer a refund (if any) in an amount equal to the difference between the lowest prevailing world market price, as determined and adjusted by the Secretary in accordance with this section, during the 30-day period following the date on which the producer repays the marketing assistance loan and the repayment rate. (c) Repayment rates for extra long staple cottonRepayment of a marketing assistance loan for extra long staple cotton shall be at a rate that is the lesser of—(1) the loan rate established for the commodity under section 9032 of this title, plus interest (determined in accordance with section 7283 of this title); and (2) the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section. (d) Prevailing world market price(1) In generalFor purposes of this section and section 9037 of this title, the Secretary shall prescribe by regulation—(A) a formula to determine the prevailing world market price for each of upland cotton, long grain rice, medium grain rice, and extra long staple cotton; and (B) a mechanism by which the Secretary shall announce periodically those prevailing world market prices. (2) Upland cottonIn the case of upland cotton, for any period when price quotations for Middling (M) 13⁄32-inch cotton are available, the formula under paragraph (1)(A) shall be based on the average of the 3 lowest-priced growths that are quoted. (e) Adjustment of prevailing world market price for upland cotton, extra long staple cotton, long grain rice, and medium grain rice(1) RiceThe prevailing world market price for long grain rice and medium grain rice determined under subsection (d) shall be adjusted to United States quality and location. (2) Upland cottonThe prevailing world market price for upland cotton determined under subsection (d)—(A) shall be adjusted to United States quality and location, with the adjustment to include—(i) a reduction equal to any United States Premium Factor for upland cotton of a quality higher than Middling (M) 13⁄32-inch; and (ii) the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and (B) may be further adjusted, during the period beginning on February 7, 2014, and ending on July 31, 2032, if the Secretary determines the adjustment is necessary—(i) to minimize potential loan forfeitures; (ii) to minimize the accumulation of stocks of upland cotton by the Federal Government; (iii) to ensure that upland cotton produced in the United States can be marketed freely and competitively, both domestically and internationally; and (iv) to ensure an appropriate transition between current-crop and forward-crop price quotations, except that the Secretary may use forward-crop price quotations prior to July 31 of a marketing year only if—(I) there are insufficient current-crop price quotations; and (II) the forward-crop price quotation is the lowest such quotation available. (3) Extra long staple cottonThe prevailing world market price for extra long staple cotton determined under subsection (d)—(A) shall be adjusted to United States quality and location, with the adjustment to include the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and (B) may be further adjusted, during the period beginning on July 4, 2025, and ending on July 31, 2032, if the Secretary determines the adjustment is necessary—(i) to minimize potential loan forfeitures; (ii) to minimize the accumulation of stocks of extra long staple cotton by the Federal Government; (iii) to ensure that extra long staple cotton produced in the United States can be marketed freely and competitively; and (iv) to ensure an appropriate transition between current-crop and forward-crop price quotations, except that the Secretary may use forward-crop price quotations prior to July 31 of a marketing year only if—(I) there are insufficient current-crop price quotations; and (II) the forward-crop price quotation is the lowest such quotation available. (4) Guidelines for additional adjustmentsIn making adjustments under this subsection, the Secretary shall establish a mechanism for determining and announcing the adjustments in order to avoid undue disruption in the United States market. (f) Repayment rates for confectionery and other kinds of sunflower seedsThe Secretary shall permit the producers on a farm to repay a marketing assistance loan under section 9031 of this title for confectionery and each other kind of sunflower seed (other than oil sunflower seed) at a rate that is the lesser of—(1) the loan rate established for the commodity under section 9032 of this title, plus interest (determined in accordance with section 7283 of this title); or (2) the repayment rate established for oil sunflower seed. (g) Payment of cotton storage costs(1) Crop years 2014 through 2025Effective for each of the 2014 through 2025 crop years, the Secretary shall make cotton storage payments available in the same manner, and at the same rates as the Secretary provided storage payments for the 2006 crop of cotton, except that the rates shall be reduced by 10 percent. (2) Payment of cotton storage costsEffective for each of the 2026 through 2031 crop years, the Secretary shall make cotton storage payments for upland cotton and extra long staple cotton available in the same manner as the Secretary provided storage payments for the 2006 crop of upland cotton, except that the payment rate shall be equal to the lesser of—(A) the submitted storage charge for the current marketing year; and (B) in the case of storage in—(i) California or Arizona, a payment rate of $4.90; and (ii) any other State, a payment rate of $3.00. (h) Repayment rate for peanutsThe Secretary shall permit producers on a farm to repay a marketing assistance loan for peanuts under section 9031 of this title at a rate that is the lesser of—(1) the loan rate established for peanuts under subsection (a)(20) or (b)(20), as applicable, of section 9032 of this title, plus interest (determined in accordance with section 7283 of this title); or (2) a rate that the Secretary determines will—(A) minimize potential loan forfeitures; (B) minimize the accumulation of stocks of peanuts by the Federal Government; (C) minimize the cost incurred by the Federal Government in storing peanuts; and (D) allow peanuts produced in the United States to be marketed freely and competitively, both domestically and internationally. (i) Authority to temporarily adjust repayment rates(1) Adjustment authorityIn the event of a severe disruption to marketing, transportation, or related infrastructure, the Secretary may modify the repayment rate otherwise applicable under this section for marketing assistance loans under section 9031 of this title for a loan commodity. (2) DurationAny adjustment made under paragraph (1) in the repayment rate for marketing assistance loans for a loan commodity shall be in effect on a short-term and temporary basis, as determined by the Secretary.

7 U.S.C. § 9035 Loan deficiency payments

(a) Availability of loan deficiency payments(1) In generalExcept as provided in subsection (d), the Secretary may make loan deficiency payments available to producers on a farm that, although eligible to obtain a marketing assistance loan under section 9031 of this title with respect to a loan commodity, agree to forgo obtaining the loan for the commodity in return for loan deficiency payments under this section. (2) Unshorn pelts, hay, and silage(A) Marketing assistance loansSubject to subparagraph (B), nongraded wool in the form of unshorn pelts and hay and silage derived from a loan commodity are not eligible for a marketing assistance loan under section 9031 of this title. (B) Loan deficiency paymentEffective for each of the 2014 through 2031 crop years, the Secretary may make loan deficiency payments available under this section to producers on a farm that produce unshorn pelts or hay and silage derived from a loan commodity. (b) ComputationA loan deficiency payment for a loan commodity or commodity referred to in subsection (a)(2) shall be equal to the product obtained by multiplying—(1) the payment rate determined under subsection (c) for the commodity; by (2) the quantity of the commodity produced by the eligible producers, excluding any quantity for which the producers obtain a marketing assistance loan under section 9031 of this title. (c) Payment rate(1) In generalIn the case of a loan commodity, the payment rate shall be the amount by which—(A) the loan rate established under section 9032 of this title for the loan commodity; exceeds (B) the rate at which a marketing assistance loan for the loan commodity may be repaid under section 9034 of this title. (2) Unshorn peltsIn the case of unshorn pelts, the payment rate shall be the amount by which—(A) the loan rate established under section 9032 of this title for ungraded wool; exceeds (B) the rate at which a marketing assistance loan for ungraded wool may be repaid under section 9034 of this title. (3) Hay and silageIn the case of hay or silage derived from a loan commodity, the payment rate shall be the amount by which—(A) the loan rate established under section 9032 of this title for the loan commodity from which the hay or silage is derived; exceeds (B) the rate at which a marketing assistance loan for the loan commodity may be repaid under section 9034 of this title. (d) Exception for extra long staple cottonThis section shall not apply with respect to extra long staple cotton. (e) Effective date for payment rate determinationThe Secretary shall determine the amount of the loan deficiency payment to be made under this section to the producers on a farm with respect to a quantity of a loan commodity or commodity referred to in subsection (a)(2) using the payment rate in effect under subsection (c) as of the date the producers request the payment.

7 U.S.C. § 9036 Payments in lieu of loan deficiency payments for grazed acreage

(a) Eligible producers(1) In generalEffective for each of the 2014 through 2031 crop years, in the case of a producer that would be eligible for a loan deficiency payment under section 9035 of this title for wheat, barley, or oats, but that elects to use acreage planted to the wheat, barley, or oats for the grazing of livestock, the Secretary shall make a payment to the producer under this section if the producer enters into an agreement with the Secretary to forgo any other harvesting of the wheat, barley, or oats on that acreage. (2) Grazing of triticale acreageEffective for each of the 2014 through 2031 crop years, with respect to a producer on a farm that uses acreage planted to triticale for the grazing of livestock, the Secretary shall make a payment to the producer under this section if the producer enters into an agreement with the Secretary to forgo any other harvesting of triticale on that acreage. (b) Payment amount(1) In generalThe amount of a payment made under this section to a producer on a farm described in subsection (a)(1) shall be equal to the amount determined by multiplying—(A) the loan deficiency payment rate determined under section 9035(c) of this title in effect, as of the date of the agreement, for the county in which the farm is located; by (B) the payment quantity determined by multiplying—(i) the quantity of the grazed acreage on the farm with respect to which the producer elects to forgo harvesting of wheat, barley, or oats; and (ii)(I) the payment yield in effect for the calculation of price loss coverage under section 9015 of this title with respect to that loan commodity on the farm; (II) in the case of a farm for which agriculture risk coverage is elected under section 9016(a) of this title, the payment yield that would otherwise be in effect with respect to that loan commodity on the farm in the absence of such election; or (III) in the case of a farm for which no payment yield is otherwise established for that loan commodity on the farm, an appropriate yield established by the Secretary in a manner consistent with section 9013(c) of this title. (2) Grazing of triticale acreageThe amount of a payment made under this section to a producer on a farm described in subsection (a)(2) shall be equal to the amount determined by multiplying—(A) the loan deficiency payment rate determined under section 9035(c) of this title in effect for wheat, as of the date of the agreement, for the county in which the farm is located; by (B) the payment quantity determined by multiplying—(i) the quantity of the grazed acreage on the farm with respect to which the producer elects to forgo harvesting of triticale; and (ii)(I) the payment yield in effect for the calculation of price loss coverage under subchapter I with respect to wheat on the farm; (II) in the case of a farm for which agriculture risk coverage is elected under section 9016(a) of this title, the payment yield that would otherwise be in effect for wheat on the farm in the absence of such election; or (III) in the case of a farm for which no payment yield is otherwise established for wheat on the farm, an appropriate yield established by the Secretary in a manner consistent with section 9013(c) of this title. (c) Time, manner, and availability of payment(1) Time and mannerA payment under this section shall be made at the same time and in the same manner as loan deficiency payments are made under section 9035 of this title. (2) Availability(A) In generalThe Secretary shall establish an availability period for the payments authorized by this section. (B) Certain commoditiesIn the case of wheat, barley, and oats, the availability period shall be consistent with the availability period for the commodity established by the Secretary for marketing assistance loans authorized by this subchapter. (d) Prohibition on crop insurance indemnity or noninsured crop assistanceA 2014 through 2031 crop of wheat, barley, oats, or triticale planted on acreage that a producer elects, in the agreement required by subsection (a), to use for the grazing of livestock in lieu of any other harvesting of the crop shall not be eligible for an indemnity under a policy or plan of insurance authorized under the Federal Crop Insurance Act (7 U.S.C. 1501 et seq.) or noninsured crop assistance under section 7333 of this title.

7 U.S.C. § 9037 Special marketing loan provisions for upland cotton

(a) Special import quota(1) Definition of special import quotaIn 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. (2) Establishment(A) In generalThe President shall carry out an import quota program beginning on August 1, 2014, as provided in this subsection. (B) Program requirementsWhenever 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 to a definable and significant international market, as determined by the Secretary, exceeds the prevailing world market price, there shall immediately be in effect a special import quota. (3) QuantityThe quota shall be equal to the consumption during a 1-week period of cotton by domestic mills at the seasonally adjusted average rate of the most recent 3 months for which official data of the Department of Agriculture are available or, in the absence of sufficient data, as estimated by the Secretary. (4) ApplicationThe quota shall apply to upland cotton purchased not later than 90 days after the date of the Secretary’s announcement under paragraph (2) and entered into the United States not later than 180 days after that date. (5) OverlapA special quota period may be established that overlaps any existing quota period if required by paragraph (2), except that a special quota period may not be established under this subsection if a quota period has been established under subsection (b). (6) Preferential tariff treatmentThe 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; (B) section 3203 of title 19; (C) section 2463(d) of title 19; and (D) General Note 3(a)(iv) to the Harmonized Tariff Schedule. (7) LimitationThe 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 10 weeks’ 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. (b) Limited global import quota for upland cotton(1) DefinitionsIn this subsection:(A) DemandThe term “demand” means—(i) the average seasonally adjusted annual rate of domestic mill consumption of cotton during the most recent 3 months for which official data of the Department of Agriculture are available or, in the absence of sufficient data, as estimated by the Secretary; and (ii) the larger of—(I) average exports of upland cotton during the preceding 6 marketing years; or (II) cumulative exports of upland cotton plus outstanding export sales for the marketing year in which the quota is established. (B) Limited global import quotaThe 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. (C) SupplyThe term “supply” means, using the latest official data of the Department of Agriculture—(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. (2) ProgramThe 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 the 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) QuantityThe 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 official data of the Department of Agriculture are available or, in the absence of sufficient data, as estimated by the Secretary. (B) Quantity if prior quotaIf 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 treatmentThe 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; (ii) section 3203 of title 19; (iii) section 2463(d) of title 19; and (iv) General Note 3(a)(iv) to the Harmonized Tariff Schedule. (D) Quota entry periodWhen 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. (3) No overlapNotwithstanding paragraph (2), a quota period may not be established that overlaps an existing quota period or a special quota period established under subsection (a). (c) Economic adjustment assistance for textile mills(1) In generalSubject to paragraph (2), the Secretary shall, on a monthly basis, make economic adjustment assistance available 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) Value of assistanceThe value of the assistance provided under paragraph (1) shall be—(A) for the period beginning on August 1, 2013, and ending on July 31, 2025, 3 cents per pound; and (B) beginning on August 1, 2025, 5 cents per pound. (3) Allowable purposesEconomic adjustment assistance 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 auditThe 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 assistanceIf the Secretary determines, 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 for the repayment of the assistance to the Secretary, plus interest, as determined by the Secretary; and (B) ineligible to receive assistance under this subsection for a period of 1 year following the determination of the Secretary.

7 U.S.C. § 9038 Special competitive provisions for extra long staple cotton

(a) Competitiveness programNotwithstanding any other provision of law, during the period beginning on February 7, 2014, through July 31, 2032, the Secretary shall carry out a program—(1) to maintain and expand the domestic use of extra long staple cotton produced in the United 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 markets. (b) Payments under program; triggerUnder 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 (adjusted to United States quality 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 113 percent of the loan rate for extra long staple cotton. (c) Eligible recipientsThe 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 amountPayments 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.

7 U.S.C. § 9039 Availability of recourse loans for high moisture feed grains and seed cotton

(a) High moisture feed grains(1) Definition of high moisture stateIn this subsection, 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 9031 of this title. (2) Recourse loans availableFor each of the 2014 through 2031 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, certified commercial scale, including a licensed warehouse, feedlot, feed mill, distillery, or other similar entity approved by the Secretary, pursuant to regulations issued by the Secretary; or (ii) field or other physical measurements of the standing or stored crop in regions of the United States, as determined by the Secretary, that do not have certified commercial scales from which certified scale tickets may be obtained within reasonable proximity of harvest operation; (C) certify that the producers on the farm were the owners of the feed grain at the time of delivery to, and that the quantity to be placed under loan under this subsection was in fact harvested on the farm and delivered to, a feedlot, feed mill, or commercial or on-farm high-moisture storage facility, or to a facility maintained by the users of corn and grain sorghum in a high moisture state; and (D) comply with deadlines established by the Secretary for harvesting the corn or grain sorghum and submit applications for loans under this subsection within deadlines established by the Secretary. (3) Eligibility of acquired feed grainsA loan under this subsection shall be made on a quantity of corn or grain sorghum of the same crop acquired by the producer equivalent to a quantity determined by multiplying—(A) the acreage of the corn or grain sorghum in a high moisture state harvested on the farm of the producer; by (B) the lower of—(i) the payment yield in effect for the calculation of price loss coverage under section 9015 of this title, or the payment yield deemed to be in effect or established under subclause (II) or (III) of section 9036(b)(1)(B)(ii) of this title, with respect to corn or grain sorghum on a field that is similar to the field from which the corn or grain sorghum referred to in subparagraph (A) was obtained; or (ii) the actual yield of corn or grain sorghum on a field, as determined by the Secretary, that is similar to the field from which the corn or grain sorghum referred to in subparagraph (A) was obtained. (b) Recourse loans available for seed cottonFor each of the 2014 through 2031 crops of upland cotton and extra long staple cotton, the Secretary shall make available recourse seed cotton loans, as determined by the Secretary, on any production. (c) Recourse loans available for contaminated commoditiesIn the case of a loan commodity that is ineligible for 100 percent of the nonrecourse marketing loan rate in the county due to a determination that the commodity is contaminated yet still merchantable, for each of the 2019 through 2031 crops of such loan commodity, the Secretary shall make available recourse commodity loans, at the rate provided under section 9032 of this title, on any production. (d) Repayment ratesRepayment of a recourse loan made under this section shall be at the loan rate established for the commodity by the Secretary, plus interest (determined in accordance with section 7283 of this title).

7 U.S.C. § 9040 Adjustments of loans

(a) Adjustment authoritySubject to subsection (e), the Secretary may make appropriate adjustments in the loan rates for any loan commodity (other than cotton) for differences in grade, type, quality, location, and other factors. (b) Manner of adjustmentThe adjustments under subsection (a) shall, to the maximum extent practicable, be made in such a manner that the average loan level for the commodity will, on the basis of the anticipated incidence of the factors, be equal to the level of support determined in accordance with this subchapter and subtitle C. (c) Adjustment on county basis(1) In generalThe Secretary may establish loan rates for a crop for producers in individual counties in a manner that results in the lowest loan rate being 95 percent of the national average loan rate, if those loan rates do not result in an increase in outlays. (2) ProhibitionAdjustments under this subsection shall not result in an increase in the national average loan rate for any year. (d) Adjustment in loan rate for cotton(1) In generalThe Secretary may make appropriate adjustments in the loan rate for cotton for differences in quality factors. (2) Types of adjustmentsLoan rate adjustments under paragraph (1) may include—(A) the use of non-spot market price data, in addition to spot market price data, that would enhance the accuracy of the price information used in determining quality adjustments under this subsection; (B) adjustments in the premiums or discounts associated with upland cotton with a staple length of 33 or above due to micronaire with the goal of eliminating any unnecessary artificial splits in the calculations of the premiums or discounts; and (C) such other adjustments as the Secretary determines appropriate, after consultations conducted in accordance with paragraph (3). (3) Consultation with private sector(A) Prior to revisionIn making adjustments to the loan rate for cotton (including any review of the adjustments) as provided in this subsection, the Secretary shall consult with representatives of the United States cotton industry. (B) Inapplicability of chapter 10 of title 5Chapter 10 of title 5 shall not apply to consultations under this subsection. (4) Review of adjustmentsThe Secretary may review the operation of the upland cotton quality adjustments implemented pursuant to this subsection and may make further adjustments to the administration of the loan program for upland cotton, by revoking or revising any adjustment taken under paragraph (2). (e) RiceThe Secretary shall not make adjustments in the loan rates for long grain rice and medium grain rice, except for differences in grade and quality (including milling yields).