A bill to amend the United States Cotton Futures Act to exclude certain cotton futures contracts from coverage under that Act.

Bill: 114-s-1655
Sponsor: full_name: Sen. Perdue, David [R-GA]
Introduced: 2015-06-24
Policy area: Agriculture and Food
Subjects: Agricultural marketing and promotion

Agricultural trade

Commodities markets
Latest action: action_date: 2015-06-24
text: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summaries:
action_date: 2015-06-24
action_desc: Introduced in Senate
text: <p>This bill amends the United States Cotton Futures Act to exclude cotton future contracts involving cotton that is grown outside of the United States and tendered for delivery from coverage under the Act, including the requirement that the cotton be classified by the Department of Agriculture. </p>

tv_txt: II 114th CONGRESS 1st Session S. 1655 IN THE SENATE OF THE UNITED STATES June 24, 2015 Mr. Perdue introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To amend the United States Cotton Futures Act to exclude certain cotton futures contracts from coverage under that Act.

1. Excluding certain cotton futures contracts from coverage under United States Cotton Futures Act (a) In general Subsection (c)(1) of the United States Cotton Futures Act ( 7 U.S.C. 15b(c)(1) ) is amended— (1) by striking except that any cotton futures contract and inserting the following: except that— (A) any cotton futures contract ; (2) by striking the period at the end and inserting ; and ; and (3) by adding at the end the following: (B) any cotton futures contract that permits tender of cotton grown outside of the United States is excluded from the coverage of this paragraph and section to the extent that the cotton grown outside of the United States is tendered for delivery under the cotton futures contract. . (b) Application The amendments made by subsection (a) shall apply with respect to cotton futures contracts entered into on or after the date of enactment of this Act.