PROCLAMATION 5164—MAR. 19, 1984
98 STAT. 3565
NOW, THEREFORE, I, RONALD REAGAN, President of the United States of America, by the authority vested in me by section 22 of the Agricultural Adjustment Act of 1933, as amended, and the statutes of the United States, including section 301 of Title 3 of the United States Code, do hereby proclaim until otherwise superseded by law: A. Headnote 4 of part 3 of the Appendix to the TSUS is continued in effect and amended, effective 12:01 a.m. Eastern Standard Time of the day following the date of the signing of this proclamation, by changing paragraph (c) to read as follows: (c)(i) The quarterly adjusted fee provided for in items 956.05 and 957.15 shall be the amount of the fee for item 956.15 plus one cent per poimd. (ii) The quarterly adjusted fee provided for in item 956.15 shall be the amount by which the average of the adjusted daily spot (domestic) price quotations for raw sugar for the 20 consecutive market days immediately preceding the 20th day of the month preceding the calendar quarter during which the fee shall be applicable (as reported by the New York Coffee, Sugar and Cocoa Exchange) expressed in United States cents per pound, in bulk, is less than the applicable market stabilization price: Provided, That whenever the average of the daily spot (domestic) price quotations for 10 consecutive market days within any calendar quarter (1) exceeds the market stabilization price by more than one cent, the fee then in effect shall be decreased by one cent per pound, or (2) is less than the market stabilization price by more than one cent, the fee then in effect shall be increased by one cent per pound. The adjusted daily spot (domestic) price quotation for any market day shall be the daily spot (domestic) price quotation for such market day less the amount of the fee for item 956.15 that is in effect on that day. For any market day for which the New York Coffee, Sugar and Cocoa Exchange does not report a daily spot (domestic) price for raw sugar, then the Secretary of Agriculture (the Secretary) shall use such other price as he determines appropriate. (iii) The market stabilization price that shall be applicable to each fiscal year (October 1-September 30) shall be determined and announced by the Secretary in accordance with this headnote no later than 30 days prior to the begirming of the fiscal year for which such market stabilization price shall be applicable. The market stabihzation price shall be equal to the sum of: (1) the price support level for the applicable fiscal year, expressed in cents per poimd of raw cane sugar; (2) adjusted average transportation costs; (3) interest costs, if applicable; and (4) 0.2 cent. The adjusted average transportation costs shall be the weighted average cost of handling and transporting domestically produced raw cane sugar from Hawaii to Gulf and Atlantic Coast ports, as determined by the Secretary. Interest costs shall be the amount of interest, as determined or estimated by the Secretary, that would be required to be paid by a recipient of a price support loan for raw cane sugar upon repayment of the loan at full maturity. Interest costs shall only be applicable if a price support loan recipient is not required to pay interest upon forfeiture of the loan collateral. (iv) Notwithstanding the provisions of paragraph (iii) hereof, if the Secretary determines that there is a significant change in any one or more of the elements comprising the market stabilization price during the fiscal year, the Secretary shall adjust the market stabilization price within the fiscal year to reflect such change. The Secretary shall annoimce any such adjusted market stabilization price and file notice thereof with the Federal Register. This adjusted market stabilization price will become effective the first calendar quarter following its announcement or, if the Secretary announced it less than 30 days before the begiiming of a new calendar quarter, then it will become effective the second calendar quarter following its announcement. Any adjusted market stabilization price, once effective, shall remain in effect through the remainder of the fiscal year unless it is adjusted further in accordance with this paragraph. (v) The Secretary shall determine the amount of the quarterly fees in accordance with this headnote and shall announce such fees not later than the 25th day of the month preceding the calendar quarter during which the fees shall be applicable. The Secretary shall certify the amount of such fees to the Commissioner of Customs and file notice thereof with the Federal Register prior to the beginning of the calendar quarter during which the fees shall be applicable. The Secretary shall determine and announce any adjustment in the fees made within a calendar quarter in accordance with the proviso of paragraph (ii) hereof, shall certify such adjusted fees to the Commissioner of Customs, and shall file notice thereof with the Federal Register within 3 market days of the fulfillment of that proviso. (vi) If an adjustment is made in the fee in accordance with the proviso of paragraph (ii) hereof, any subsequent adjustment made within that quarter shall only be made on the basis of the average spot price for any 10 consecutive market day period following the effective date of the immediately preceding fee adjustment. No adjustment shall be made in any fee in accordance with the proviso of paragraph (ii) hereof during the last fifteen market days of a calendar quarter. (vii) Any adjustment made in a fee during a quarter in accordance with the proviso of paragraph (ii) hereof shall be effective only with respect to sugar entered or withdrawn from warehouse for consumption after 12:01 a.m. (local time at point of entry) on the day following the filing of notice thereof with the Federal Register: Provided, That such adjustment in the fee shall not apply to sugar exported (as defined by Customs in accordance with 19 CFR 152.1) on a through bill of
7 USC 624.
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