To provide temporary duty reductions for certain cotton fabrics, and for other purposes.

Amends the Harmonized Tariff Schedule of the United States (HTSUS) to reduce, through December 31, 2008 , the duty on certain cotton shirting fabrics.

Limits the quantity of imported cotton woven fabric entered by or on behalf of each manufacturer of men's and boy's shirts. Provides for the issuance of import licenses subject to such limitation.

Establishes the Pima Cotton Trust Fund within the Treasury, consisting of transfers from the general fund in amounts attributable to the duty received since January 1, 1994, on woven fabrics of cotten under specified HTSUS headings.

Provides for annual distribution of amounts from such Fund to a nationally recognized association of shirting manufacturers for the promotion of U.S.-grown pima cotton, and to yarn spinners of such cotton.