,,ii #aae? ,,congress #a/ ,session ,s4 #bjhf ,,9 ,,! ,,s5ate ,,( ,,! ,,unit$ ,,/ates ,novemb] #g1 #bjag,mrs4 ,%ahe5 7= h]self1 ,mr4 ,toomey1 ,mr4 ,alex&]1 ,mr4 ,casey1 ,ms4 ,coll9s1 ,mr4 ,coons1 ,mr4 ,cork]1 ,mr4 ,durb91 ,mrs4 ,fe9/e91 ,ms4 ,hassan1 ,mr4 ,hell]1 ,mr4 ,ka9e1 ,mr4 ,m>key1 ,mr4 ,mc,cain1 ,mrs4 ,mc,caskill1 ,mr4 ,portman1 ,mr4 ,w>n]1 ,ms4 ,w>r51 & ,mr4 ,johnson7 introduc$ ! foll[+ bill2 :i* 0 read twice & ref]r$ to ! ,committee on ,agriculture1 ,nutrition1 & ,=e/ry ,a ,,bill ,to am5d ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif to ext5d & mod]nize ! sug> program1 to ext5d & subsequ5tly repeal ! fe$/ock flexibility program = bio5]gy produc]s1 to ext5d & subsequ5tly replace flexible m>ket+ allotm5ts = sug>1 & = o!r purposes4 #a4 ,%ort title ,?is ,act may be cit$ z ! ,sug> ,policy ,mod]nization ,act ( #bjag4 #b4 ,sug> program 7a7 ,loan rates ,section #aef ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbgb7 is am5d$ by /rik+ subsections 7a7 & 7b7 & ins]t+ ! foll[+3 7a7 ,sug>cane ,! ,secret>y %all make loans available to processors ( dome/ically gr[n sug>cane at a rate equal to-- 7#a7 #ah4ge c5ts p] p\nd = raw cane sug> = ! #bjah crop ye>2 7#b7 #ah4ej c5ts p] p\nd = raw cane sug> = ! #bjai crop ye>2 7#c7 #ah4be c5ts p] p\nd = raw cane sug> = ! #bjbj crop ye>2 & 7#d7 #ah4jj c5ts p] p\nd = raw cane sug> = ea* ( ! #bjba ?r\gh #bjbc crop ye>s4 7b7 ,sug> beets ,! ,secret>y %all make loans available to processors ( dome/ically gr[n sug> beets at a rate t is equal to #abh4e p]c5t ( ! loan rate p] p\nd ( raw cane sug> = ! applicable crop ye> "u subsection 7a7 = ea* ( ! #bjah ?r\gh #bjbc crop ye>s4 4 7b7 ,avoid+ =feitures :ile ensur+ adequate supplies at reasonable prices ,section #aef7;f7 ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbgb7;f77 is am5d$-- 7#a7 9 ! subsection head+1 by ins]t+ ,:ile ,ensur+ ,adequate ,supplies at ,reasonable ,prices aft] ,=feitures2 & 7#b7 9 p>agraph 7#a71 by ins]t+ ensure adequate supplies ( sug> at reasonable prices & aft] %all4 7c7 ,assurance ( no net co/ & means = recov]y ( net co/s ,section #aef7;f7 ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbgb7;f77 is am5d$ by add+ at ! end ! foll[+3 7#c7 ,assurance ( no net co/2 recov]y ( net co/s 7,a7 ,def9ition ( net co/ ,9 ?is p>agraph1 ! t]m net co/ means an am\nt by :i* ,f$]al exp5ditures 7includ+ disbursem5t ( loan proce$s7 = a fiscal ye> made pursuant to ! program e/abli%$ "u ?is section exce$ receipts "u t program 7includ+ loan repaym5ts7 = t fiscal ye>4 7,b7 ,recov]y requir$ ,if ! ,secret>y f9ds t1 not)/&+ p>agraph 7#a71 ! program e/abli%$ "u ?is section has result$ 9 a net co/ to ! ,f$]al ,gov]nm5t1 ! ,secret>y %all recov] t net co/ f processors ( dome/ically gr[n sug>cane & sug> beets 9 a mann] det]m9$ by ! ,secret>y 9 regulations promulgat$ "u subp>agraph 7,d74 7,c7 ,recov]y me?od ,! ,secret>y may provide = s+le or multiple paym5ts by ea* processor ( dome/ically gr[n sug>cane or sug> beets = ! recov]y ( ! net co/ describ$ 9 subp>agraph 7,b74 7,d7 ,regulations ,! ,secret>y %all promulgate su* regulations z ! ,secret>y det]m9es are necess>y to c>ry out ?is p>agraph4 7,e7 ,application ,?is p>agraph %all apply beg9n+ ) fiscal ye> #bjai4 4 7d7 ,effective ,p]iod ,section #aef7;i7 ( ! ,f$]al ,agriculture ,improvem5t & ,re=m ,act ( #aiif 7#g ,u4,s4,c4 #gbgb7;i77 is am5d$ by /rik+ #bjah & ins]t+ #bjbc4 #c4 ,"o-ye> ext5sion ( fe$/ock flexibility program = bio5]gy produc]s & subsequ5t t]m9ation 7a7 ,ext5sion ,section #ijaj7;b7 ( ! ,f>m ,security & ,rural ,inve/m5t ,act ( #bjjb 7#g ,u4,s4,c4 #haaj7;b77 is am5d$ 9 p>agraphs 7#a77;,a7 & 7#b77;,a7 by /rik+ #bjah ea* place x appe>s & ins]t+ #bjai4 7b7 ,t]m9ation ,section #ijaj ( ! ,f>m ,security & ,rural ,inve/m5t ,act ( #bjjb 7#g ,u4,s4,c4 #haaj7 is am5d$ by add+ at ! end ! foll[+3 7c7 ,t]m9ation ,! ,secret>y may n c>ry out ! fe$/ock flexibility program describ$ 9 subsection 7b7 = ! #bjbj or subsequ5t crops4 4 #d4 ,two-ye> ext5sion ( m>ket+ allotm5ts = sug> & subsequ5t adm9i/ration ( t>iff-rate quotas 7a7 ,flexible m>ket+ allotm5ts = sug> 7#a7 ,sug> e/imates ,section #cei;b7a77#a7 ( ! ,agricultural ,adju/m5t ,act ( #aich 7#g ,u4,s4,c4 #acei;bb7a77#a77 is am5d$ 9 ! matt] prec$+ subp>agraph 7,a7 by /rik+ #bjah & ins]t+ #bjbj4 7#b7 ,/ocks-to-use ratio ,section #ceik7b7 ( ! ,agricultural ,adju/m5t ,act ( #aich 7#g ,u4,s4,c4 #aceikk7b77 is am5d$ by add+ at ! end ! foll[+3 7#c7 ,/ocks-to-use ratio ,not)/&+ p>agraphs 7#a7 & 7#b71 ! ,secret>y %all adju/ t>iff-rate quotas e/abli%$ "u subsection 7a7 9 su* a mann] z to ensure1 to ! maximum ext5t practicable1 t-- 7,a7 ! f9al ratio ( sug> /ocks to total sug> use at ! end ( a fiscal ye> is-- 7i7 #ad4e p]c5t = fiscal ye> #bjai2 & 7ii7 #ae p]c5t = fiscal ye> #bjbj2 & 7,b7 /ocks ( raw cane sug> & ref9$ beet sug> are adequate ?r\gh\t ea* ( fiscal ye>s #bjai & #bjbj to meet ! ne$s ( ! m>ketplace1 includ+ ! effici5t use ( raw cane sug> ref9+ capacity4 4 7#c7 ,effective p]iod ,section #ceil7a7 ( ! ,agricultural ,adju/m5t ,act ( #aich 7#g ,u4,s4,c4 #aceill7a77 is am5d$ by /rik+ #bjah & ins]t+ #bjbj4 7b7 ,repeal & replacem5t 7#a7 ,9 g5]al ,effective on ,octob] #a1 #bjbj1 "p ,,vii ( subtitle ,b ( title ,,iii ( ! ,agricultural ,adju/m5t ,act ( #aich 7#g ,u4,s4,c4 #acei;aa et seq47 is am5d$ to read z foll[s3 ,,vii ,sug> #cei;a4 ,adm9i/ration ( t>iff-rate quotas 7a7 ,e/abli%m5t ,not)/&+ any o!r provision ( law1 at ! beg9n+ ( fiscal ye> #bjba & ea* fiscal ye> !reaft] ?r\gh ! end ( ! effective p]iod describ$ 9 subsection 7d71 ! ,secret>y %all e/abli% t>iff-rate quotas = raw cane sug> & ref9$ beet sug>-- 7#a7 to provide adequate supplies ( sug> at reasonable prices2 & 7#b7 at su* levels z are necess>y to comply ) obligations "u int]national trade agreem5ts t h be5 approv$ by ,congress4 7b7 ,adju/m5t au?ority ,! ,secret>y %all adju/ t>iff-rate quotas e/abli%$ "u subsection 7a7 9 su* a mann] z to ensure1 to ! maximum ext5t practicable1 t-- 7#a7 ! f9al ratio ( sug> /ocks to total sug> use at ! end ( ea* fiscal ye> is #ae4e p]c5t2 & 7#b7 /ocks ( raw cane & ref9$ beet sug> are adequate ?r\gh\t ea* fiscal ye> to meet ! ne$s ( ! m>ketplace1 includ+ ! effici5t use ( cane ref9+ capacity4 7c7 ,transf] ( quota %>es 7#a7 ,9 g5]al ,! ,secret>y %all promulgate regulations t-- 7,a7 promote ! maximum practicable use ( ! t>iff-rate quotas e/abli%$ "u subsection 7a72 7,b7 ensure adequate supplies ( raw cane sug> = cane ref9]s 9 ! ,unit$ ,/ates2 & 7,c7 provide t any c\ntry t has be5 allocat$ a %>e ( ! t>iff-rate quotas e/abli%$ "u subsection 7a7 may tempor>ily transf] all or "p ( ! %>e to any o!r c\ntry t has be5 allocat$ a %>e ( ! quotas4 7#b7 ,transf]s volunt>y ,any transf] "u p>agraph 7#a77;,c7 %all be valid only-- 7,a7 pursuant to a volunt>y agreem5t betwe5 ! transf]or & ! transf]ee2 & 7,b7 consi/5t ) proc$ures e/abli%$ by ! ,secret>y4 7#c7 ,limitations on transf]s ) respect to fiscal ye> 7,a7 ,9 g5]al ,any transf] "u p>agraph 7#a77;,c7 %all be valid only = ! duration ( ! fiscal ye> dur+ :i* ! transf] is made4 7,b7 ,foll[+ fiscal ye> ,no transf] "u p>agraph 7#a77;,c7 %all affect ! %>e ( ! quota allocat$ to ! transf]or or transf]ee = ! next fiscal ye> aft] ! fiscal ye> dur+ :i* ! transf] is made4 7d7 ,effective p]iod ,?is section %all be effective only ?r\gh fiscal ye> #bjbc4 4 7#b7 ,cont9u$ application ( prior law to c]ta9 sug> crops ,"p ,,vii ( subtitle ,b ( title ,,iii ( ! ,agricultural ,adju/m5t ,act ( #aich 7#g ,u4,s4,c4 #acei;aa et seq471 z 9 effect on ! day be=e ! date specifi$ 9 p>agraph 7#a71 %all cont9ue to apply to ! #bjai & #bjbj crop ye>s = sug>cane & sug> beets4 #e4 ,s5se ( ,congress ,x is ! s5se ( ,congress t ! ,presid5t %\ld e/abli% z major goals ( ! trade policy ( ! ,unit$ ,/ates-- 7#a7 ! elim9ation ( all direct & indirect subsidies b5efitt+ ! production or export ( sug> by any gov]nm5t2 & 7#b7 ! en=cem5t1 negotiation1 & implem5tation ( trade agreem5ts t-- 7,a7 provide comm]cially mean+ful sug> trade lib]alization globally2 & 7,b7 enhance trade opportunities = ! agricultural sector & o!r sectors ( ! economy ( ! ,unit$ ,/ates4