Sec. 1401. Dairy risk management program for dairy producers

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Not later than 60 days after the date of the enactment of this Act, the Secretary of Agriculture shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report evaluating the extent to which the average cost of feed used by a dairy operation to produce a hundredweight of milk calculated by the Secretary as required by section 1402(a) of the Agricultural Act of 2014 ( 7 U.S.C. 9052(a) ) is representative of actual dairy feed costs.

Not later than 1 year after the date of the enactment of this Act, the Secretary of Agriculture shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report detailing the costs incurred by dairy operations in the use of corn silage as feed, and the difference between the feed cost of corn silage and the feed cost of corn. Not later than 120 days after the date of the enactment of this Act, the Secretary of Agriculture, acting through the National Agricultural Statistics Service, shall revise monthly price survey reports to include prices for high-quality alfalfa hay in the top five milk producing States, as measured by volume of milk produced during the previous month.

Section 1404(b) of the Agricultural Act of 2014 ( 7 U.S.C. 9054(b) ) is amended— in paragraph (3), by striking If and inserting Subject to paragraph (5), if ; and by adding at the end the following new paragraph: To promote administrative efficiency in the dairy risk management program, a multiproducer dairy operation covered by paragraph

(3)may elect, at the option of the multiproducer dairy operation, to exclude information from the registration process regarding any individual owner of the multiproducer dairy operation that— holds less than a five percent ownership interest in the multiproducer dairy operation; or is entitled to less than five percent of the income, revenue, profit, gain, loss, expenditure, deduction, or credit of the multiproducer dairy operation for any given year. To the extent that an individual owner of a multiproducer dairy operation is excluded under subparagraph

(A)from the registration of the multiproducer dairy operation, any dairy risk management payment made to the multiproducer dairy operation shall be reduced by an amount equal to the greater of the following: The amount determined by multiplying the dairy risk management payment otherwise determined under section 1406 by the total percentage of ownership interests represented by the excluded owners. The amount determined by multiplying the dairy risk management payment otherwise determined under section 1406 by the total percentage of the income, revenue, profit, gain, loss, expenditure, deduction, or credit of the multiproducer dairy operation represented by the excluded owners. . Section 1404(d) of the Agricultural Act of 2014 ( 7 U.S.C. 9054(d) ) is amended— by striking but not both and inserting but not on the same production ; by striking or the and inserting and the ; and by striking margin protection program and inserting dairy risk management program . Section 1405(a)(1) of the Agricultural Act of 2014 ( 7 U.S.C. 9055(a)(1) ) is amended by adding at the end the following new sentence: The production history of a participating dairy operation shall continue to be based on annual milk marketings during the 2011, 2012, or 2013 calendar year notwithstanding the operation of the dairy risk management program through 2023. . Section 1405(a) of the Agricultural Act of 2014 ( 7 U.S.C. 9055(a) ) is amended— in paragraph (2), by striking In subsequent years and inserting In the subsequent calendar years ending before January 1, 2019 ; and in paragraph (3), by inserting , as applicable after paragraph

(2). Section 1405 of the Agricultural Act of 2014 ( 7 U.S.C. 9055 ) is amended by adding at the end the following new subsection: The Secretary may not make dairy risk management payments to a participating dairy operation if the Secretary determines that the participating dairy operation has reorganized the structure of such operation solely for the purpose of qualifying as a new operation under subsection (b). . Section 1406 of the Agricultural Act of 2014 ( 7 U.S.C. 9056 ) is amended— in subsection (a), by striking annually ; and by adding at the end the following new subsection: Not later than 90 days after the date of the enactment of this subsection, each participating dairy operation shall elect a coverage level threshold under subsection (a)(1) and a coverage percentage under subsection (a)(2) to be used to determine dairy risk management payments. This election shall remain in effect for the participating dairy operation for the duration of the dairy risk management program, as specified in section 1409. . Section 1406(a)(1) of the Agricultural Act of 2014 ( 7 U.S.C. 9056(a)(1) ) is amended by inserting after or $8.00 the following: (and in the case of production subject to premiums under section 1407(b), also $8.50 or $9.00) . Section 1406(a)(2) of the Agricultural Act of 2014 ( 7 U.S.C. 9056(a)(2) ) is amended by striking beginning with 25 percent and not exceeding and inserting but not to exceed . Section 1407(b) of the Agricultural Act of 2014 ( 7 U.S.C. 9057(b) ) is amended— by striking paragraph

(2)and inserting the following new paragraph: The following annual premiums apply: Coverage Level Premium per Cwt. $4.00 None $4.50 $0.002 $5.00 $0.005 $5.50 $0.008 $6.00 $0.010 $6.50 $0.017 $7.00 $0.041 $7.50 $0.057 $8.00 $0.090 $8.50 $0.120 $9.00 $0.170 ; and by striking paragraph (3). Section 1407(d) of the Agricultural Act of 2014 ( 7 U.S.C. 9057(d) ) is amended in the subsection heading by striking and inserting Time for . Method of The heading of part I of subtitle D of title I of the Agricultural Act of 2014 ( Public Law 113–79 ; 128 Stat. 688) is amended to read as follows: . Section 1401 of the Agricultural Act of 2014 ( 7 U.S.C. 9051 ) is amended— by striking paragraphs

(5)and

(6)and inserting the following new paragraphs: The terms dairy risk management program and program mean the dairy risk management program required by section 1403. The term dairy risk management payment means a payment made to a participating dairy operation under the program pursuant to section 1406. ; and in paragraphs

(7)and (8), by striking margin protection both places it appears. Section 1402(b)(1) of the Agricultural Act of 2014 ( 7 U.S.C. 9052(b)(1) ) is amended by striking margin protection and inserting dairy risk management . Section 1403 of the Agricultural Act of 2014 ( 7 U.S.C. 9053 ) is amended— in the section heading, by striking and inserting ESTABLISHMENT OF MARGIN PROTECTION ; DAIRY RISK MANAGEMENT by striking Not later than September 1, 2014, the Secretary shall establish and administer a margin protection program and inserting The Secretary shall continue to administer a dairy risk management program ; and by striking margin protection payment both places it appears and inserting dairy risk management payment . Section 1404 of the Agricultural Act of 2014 ( 7 U.S.C. 9054 ) is amended— in the section heading, by striking ; MARGIN PROTECTION in subsection (a), by striking margin protection program to receive margin protection payments and inserting dairy risk management program to receive dairy risk management payments ; and in subsections

(b)and (c), by striking margin protection each place it appears. Section 1405 of the Agricultural Act of 2014 ( 7 U.S.C. 9055 ) is amended— in subsection (a)(1)— by striking margin protection program the first place it appears and inserting dairy risk management program ; and by striking margin protection the second place it appears; and in subsection (c), by striking margin protection . Section 1406 of the Agricultural Act of 2014 ( 7 U.S.C. 9056 ) is amended— in the section heading, by striking and inserting MARGIN PROTECTION ; DAIRY RISK MANAGEMENT by striking margin protection each place it appears and inserting dairy risk management ; and in the heading of subsection (c), by striking . Margin Protection Section 1407 of the Agricultural Act of 2014 ( 7 U.S.C. 9057 ) is amended— in the section heading, by striking and inserting MARGIN PROTECTION ; DAIRY RISK MANAGEMENT in subsection (a), by striking margin protection program and inserting dairy risk management program ; and in subsection (e), by striking margin protection both places it appears. Section 1408 of the Agricultural Act of 2014 ( 7 U.S.C. 9058 ) is amended by striking margin protection both places it appears and inserting dairy risk management . Section 1410 of the Agricultural Act of 2014 ( 7 U.S.C. 9060 ) is amended by striking margin protection each place it appears and inserting dairy risk management . The amendments made by this section shall take effect 60 days after the date of the enactment of this Act. Section 1409 of the Agricultural Act of 2014 ( 7 U.S.C. 9059 ) is amended— by striking margin protection and inserting dairy risk management ; and by striking 2018 and inserting 2023 .

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