Section 1117 of the Agricultural Act of 2014 (7 U.S.C. 9017) is amended—
(1) in subsection (a), in the matter preceding paragraph (1), by striking “2023” and inserting “2031”;
(2) in subsection (c)—
(A) in paragraph (1), by inserting “for each of the 2014 through 2024 crop years and 90 percent of the benchmark revenue for each of the 2025 through 2031 crop years” before the period at the end;
(B) by striking “2023” each place it appears and inserting “2031”; and
(C) in paragraph (4)(B), in the subparagraph heading, by striking “2023” and inserting “2031”;
(3) in subsection (d)(1), by striking subparagraph (B) and inserting the following:
“(B) (i) for each of the 2014 through 2024 crop years, 10 percent of the benchmark revenue for the crop year applicable under subsection (c); and
“(ii) for each of the 2025 through 2031 crop years, 12 percent of the benchmark revenue for the crop year applicable under subsection (c).”; and
(4) in subsections (e), (g)(5), and (i)(5), by striking “2023” each place it appears and inserting “2031”.