,,ii  #aacth ,,congress  #b;d ,session  
,s4 #bihd  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,december #d1  
#bjad ,mr4 ,chambliss introduced the    
following bill2 which was read twice and
 referred to the ,committee on          
,agriculture1 ,nutrition1 and ,forestry 
,a ,,bill  ,to modify the definition of 
cotton futures contracts in the ,united 
,states ,cotton ,futures ,act4  #a4     
,cotton futures contracts ,section      
#aieb7;c7 of the ,united ,states ,cotton
 ,futures ,act 7#g ,u4,s4,c4 #ae;,b7c77 
is amended by striking paragraph 7#a7   
and inserting the following3  7#a7      
,cotton futures contract ,the term      
cotton futures contract means any       
contract of sale of cotton for future   
delivery made at1 on1 or in any         
exchange1 board of trade1 or similar    
institution or place of business which  
has been designated a contract market by
 the ,commodity ,futures ,trading       
,commission pursuant to the ,commodity  
,exchange ,act 7#g ,u4,s4,c4 #a et seq47

 and the term contract of sale as so    
used shall be held to include sales1    
agreements of sale1 and agreements to   
sell1 except that-- 7,a7 any cotton     
futures contract that1 by its terms1 is 
settled in cash is excluded from the    
coverage of this paragraph and section2 
and  7,b7 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 contract4  4