7 U.S.C. § 8738 — Special competitive provisions for extra long staple cotton

(a) Competitiveness program. Despite any other law, from enactment through July 31, 2013, the Secretary must run a program to: (1) keep up and grow the domestic use of U.S.-grown extra long staple (ELS) cotton; (2) increase exports of U.S.-grown ELS cotton; and (3) keep U.S.-grown ELS cotton competitive in world markets. (b) Payments under program; trigger. Under this program, the Secretary must make payments available whenever: (1) for four straight weeks, the world market price of the cheapest competing ELS cotton — adjusted for U.S. quality, location, and other competitiveness factors, as the Secretary determines — is below the prevailing U.S. price for competing ELS cotton; and (2) that lowest competing world price is less than 134 percent of the loan rate for extra long staple cotton. (c) Eligible recipients. Payments go to domestic users of U.S.-grown ELS cotton, and to exporters of U.S.-grown ELS cotton, who sign an agreement with the Commodity Credit Corporation to take part in this program. (d) Payment amount. Payments are based on the price difference described in subsection (b)(1), measured during the fourth week of that four-week period, multiplied by the amount of documented purchases (for domestic users) or export sales (for exporters) made during the week right after that four-week period.