Sec. 1101. Definition of effective reference price
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Section 1111 of the Agricultural Act of 2014 ( 7 U.S.C. 9011 ) is amended— by redesignating paragraphs
(8)through
(25)as paragraphs
(9)through (26), respectively; and by inserting after paragraph
(7)the following: The term effective reference price , with respect to a covered commodity for a crop year, means the lesser of the following: An amount equal to 115 percent of the reference price for such covered commodity. An amount equal to the greater of— the reference price for such covered commodity; or 85 percent of the average of the marketing year average price of the covered commodity for the most recent 5 crop years, excluding each of the crop years with the highest and lowest marketing year average price. .
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Sec. 1101
Definition of effective reference price
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