Pima cotton payments.

CFR · 2024-01-01 · US · Title 7

From available funds in the Agriculture Pima Trust, CCC will annually make payments as follows: (a) Twenty-five percent of the amounts in the Agriculture Pima Trust shall be paid to one or more nationally recognized associations established for the promotion of pima cotton for use in textile and apparel goods, as determined by the Secretary, during the calendar year immediately preceding the payment. (b) Twenty-five percent of the amounts in the Agriculture Pima Trust shall be paid to yarn spinners of pima cotton that produce ring spun cotton yarns in the U.S. during the calendar year immediately preceding the payment, to be allocated to each yarn spinner in an amount that bears the same ratio as: (1) The yarn spinner's production of ring spun cotton yarns measuring less than 83.33 decitex (exceeding 120 metric number) from pima cotton in single and plied form during the prior calendar year; bears to (2) The production of the yarns described in paragraph (b)(1) of this section during the prior calendar year by all yarn spinners that qualify under this paragraph (b). (3) A yarn spinner will not receive an amount under this paragraph (b) that exceeds the cost of pima cotton that was: (i) Purchased during the prior calendar year; and (ii) Used in spinning any cotton yarns. (4) The Secretary will reallocate any amounts reduced by reason of the limitation under paragraph (b)(3) of this section to spinners using the ratio described in this paragraph (b), disregarding production of

official document · source cfr-2024 · id 7:§ 1471.2