Sec. 12602. PIMA AGRICULTURE COTTON TRUST FUND
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## SEC. 12602 PIMA AGRICULTURE COTTON TRUST FUND Section 12314 of the Agricultural Act of 2014 (7 U.S.C. 2101 note; Public Law 113-79) is amended— ####
(1)by striking “2018” each place it appears and inserting “2023”; ####
(2)by striking “calendar year 2013” each place it appears and inserting “the prior calendar year”; ####
(3)in subsection (b)(2)— #####
(A)by redesignating subparagraphs
(A)and
(B)as clauses
(i)and (ii), respectively; #####
(B)in the matter preceding clause
(i)(as so redesignated), by striking “
(2)Twenty-five ” and inserting the following: > > #### “(2) > > > #####
(A)> > Except as provided in subparagraph (B), twenty-five” > ; #####
(C)in subparagraph (A)(ii) (as so designated), by striking “subparagraph (A)” and inserting “clause (i)”; and #####
(D)by adding at the end the following: > > ##### “(B) > > > ######
(i)> > A yarn spinner shall not receive an amount under subparagraph
(A)that exceeds the cost of pima cotton that— > > > ###### “(I) > > was purchased during the prior calendar year; and > > > ###### “(II) > > was used in spinning any cotton yarns. > > > ###### “(ii) > > 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.” > ; ####
(4)in subsection (c)— #####
(A)in the matter preceding paragraph (1), by striking “(b)(2)(A)” and inserting “(b)(2)(A)(i)”; #####
(B)in paragraph (2), by striking “and” at the end; #####
(C)in paragraph (3), by striking the period at the end and inserting “; and”; and #####
(D)by adding at the end the following: > > #### “(4) > > the dollar amount of pima cotton purchased during the prior calendar year— > > > ##### “(A) > > that was used in spinning any cotton yarns; and > > > ##### “(B) > > for which the producer maintains supporting documentation.” > ; ####
(5)in subsection (e)— #####
(A)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 #####
(B)by striking paragraphs
(1)and (2); and ####
(6)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”.
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