Sec. 12603. Pima agriculture cotton trust fund

324 words·~1 min read·/bill/115/hr/2/eas/section-12603

A research copy — for the controlling text, always check the official state or federal source. Not legal advice.

Section 12314 of the Agricultural Act of 2014 ( 7 U.S.C. 2101 note; Public Law 113–79 ) is amended— by striking 2018 each place it appears and inserting 2023 ; by striking calendar year 2013 each place it appears and inserting the prior calendar year ; in subsection (b)(2)— by redesignating subparagraphs

(A)and

(B)as clauses

(i)and (ii), respectively; in the matter preceding clause

(i)(as so redesignated), by striking

(2)Twenty-five and inserting the following: Except as provided in subparagraph (B), twenty-five ; in subparagraph (A)(ii) (as so designated), by striking subparagraph

(A)and inserting clause

(i); and by adding at the end the following: A yarn spinner shall not receive an amount under subparagraph

(A)that exceeds the cost of pima cotton that— was purchased during the prior calendar year; and was used in spinning any cotton yarns. The Secretary shall reallocate any amounts reduced by reason of the limitation under clause

(i)to spinners using the ratio described in subparagraph (A), disregarding production of any spinner subject to that limitation. ; in subsection (c)— in the matter preceding paragraph (1), by striking (b)(2)(A) and inserting (b)(2)(A)(i) ; in paragraph (2), by striking and at the end; in paragraph (3), by striking the period at the end and inserting ; and ; and by adding at the end the following: the dollar amount of pima cotton purchased during the prior calendar year— that was used in spinning any cotton yarns; and for which the producer maintains supporting documentation. ; in subsection (e)— in the matter preceding paragraph (1), by striking by the Secretary— and inserting by the Secretary not later than March 15 of the applicable calendar year. ; and by striking paragraphs

(1)and (2); and in subsection (f), by striking subsection (b)— in the matter preceding paragraph

(1)and all that follows through not later than in paragraph

(2)and inserting subsection

(b)not later than .

Connectionstraces to 2

Traces to 2 documents

U.S. Code