Sec. 1101. Definitions
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/bill/118/s/5335/is/section-1101·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 1111 of the Agricultural Act of 2014 ( 7 U.S.C. 9011 ) is amended— in paragraph (8)— in subparagraph (B), by redesignating clauses
(i)and
(ii)as subclauses
(I)and (II), respectively, and indenting appropriately; by redesignating subparagraphs
(A)and
(B)as clauses
(i)and (ii), respectively, and indenting appropriately; in the matter preceding clause
(i)(as so redesignated), by striking The term and inserting the following: effective reference price , with respect to a covered commodity for a crop year, The term effective reference price , with respect to a covered commodity for any of the 2019 through 2024 crop years, ; and by adding at the end the following: The term effective reference price , with respect to a covered commodity for any of the 2025 through 2029 crop years, 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. ; and in paragraph (19)— by redesignating subparagraphs
(A)through
(O)as clauses
(i)through (xv), respectively, and indenting appropriately; in the matter preceding clause
(i)(as so redesignated), by striking The term and all that follows through the following: and inserting the following: The term reference price , with respect to a covered commodity for each of crop years 2019 through 2023, means the following: ; and by adding at the end the following: The term reference price , with respect to a covered commodity for each of crop years 2024 through 2029, means the following: For wheat, $5.78 per bushel. For corn, $3.89 per bushel. For grain sorghum, $4.15 per bushel. For barley, $5.20 per bushel. For oats, $2.52 per bushel. For long grain rice, $14.70 per hundredweight. For medium grain rice, $14.70 per hundredweight. For soybeans, $8.82 per bushel. For other oilseeds, $21.16 per hundredweight. For peanuts, $561.75 per ton. For dry peas, $11.55 per hundredweight. For lentils, $20.97 per hundredweight. For small chickpeas, $19.99 per hundredweight. For large chickpeas, $22.62 per hundredweight. For seed cotton, $0.385 per pound. .
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