U.S. Customs and Border Protection May 25, 2007 – Federal Register Recent Federal Regulation Documents

On December 20, 2006, President Bush signed into law the Tax Relief and Health Care Act of 2006. Within Division C of the Act, section 407 of Title IV establishes a Cotton Trust Fund in the Treasury of the United States to be known as the ``Pima Cotton Trust Fund.'' The Pima Cotton Trust Fund is comprised of funds transferred from the general fund of the Treasury in amounts equal to duties collected since January 1, 1994, on certain imports of pima cotton products. Section 407 of the Act authorizes distributions out of the Trust Fund in each of fiscal years 2007 and 2008, payable to eligible manufacturers and spinners of certain pima cotton products, as well as to a nationally recognized association established for the promotion of pima cotton grown in the United States for use in textile and apparel goods. Eligible claimants are directed to follow the statutory procedures to claim a distribution from the Pima Cotton Trust Fund. This document sets forth the law and announces applicable deadlines for claim and affidavit submission as well as the address to which claims, affidavits and related information must be sent.