SEC. 10301. Effective reference price; reference price.
(a) Effective reference price.—Section 1111(8)(B)(ii) of the Agricultural Act of 2014 (7 U.S.C. 9011(8)(B)(ii)) is amended by striking “85” and inserting “beginning with the crop year 2025, 88”.
(b) Reference price.—Section 1111 of the Agricultural Act of 2014 (7 U.S.C. 9011) is amended by striking paragraph (19) and inserting the following:
“(19) REFERENCE PRICE.—
“(A) IN GENERAL.—Effective beginning with the 2025 crop year, subject to subparagraphs (B) and (C), the term ‘reference price’, with respect to a covered commodity for a crop year, means the following:
“(i) For wheat, $6.35 per bushel.
“(ii) For corn, $4.10 per bushel.
“(iii) For grain sorghum, $4.40 per bushel.
“(iv) For barley, $5.45 per bushel.
“(v) For oats, $2.65 per bushel.
“(vi) For long grain rice, $16.90 per hundredweight.
“(vii) For medium grain rice, $16.90 per hundredweight.
“(viii) For soybeans, $10.00 per bushel.
“(ix) For other oilseeds, $23.75 per hundredweight.
“(x) For peanuts, $630.00 per ton.
“(xi) For dry peas, $13.10 per hundredweight.
“(xii) For lentils, $23.75 per hundredweight.
“(xiii) For small chickpeas, $22.65 per hundredweight.
“(xiv) For large chickpeas, $25.65 per hundredweight.
“(xv) For seed cotton, $0.42 per pound.
“(B) EFFECTIVENESS.—Effective beginning with the 2031 crop year, the reference prices defined in subparagraph (A) with respect to a covered commodity shall equal the reference price in the previous crop year multiplied by 1.005.
“(C) LIMITATION.—In no case shall a reference price for a covered commodity exceed 113 percent of the reference price for such covered commodity listed in subparagraph (A).”.
SEC. 10302. Base acres.
Section 1112 of the Agricultural Act of 2014 (7 U.S.C. 9012) is amended—
(1) in subsection (d)(3)(A), by striking “2023” and inserting “2031”; and
(2) by adding at the end the following:
“(e) Additional base acres.—
“(1) IN GENERAL.—As soon as practicable after the date of enactment of this subsection, and notwithstanding subsection (a), the Secretary shall provide notice to owners of eligible farms pursuant to paragraph (3) and allocate to those eligible farms a total of not more than an additional 30,000,000 base acres in the manner provided in this subsection. An owner of a farm that is eligible to receive an allocation of base acres may elect to not receive that allocation by notifying the Secretary not later than 90 days after receipt of the notice provided by the Secretary under this paragraph.
“(2) CONTENT OF NOTICE.—The notice under paragraph (1) shall include the following:
“(A) Information that the allocation is occurring.
“(B) Information regarding the eligibility of the farm for an allocation of base acres under paragraph (3).
“(C) Information regarding how an owner may appeal a determination of ineligibility for an allocation of base acres under paragraph (3) through an appeals process established by the Secretary.
“(3) ELIGIBILITY.—
“(A) IN GENERAL.—Subject to subparagraph (D), effective beginning with the 2026 crop year, a farm is eligible to receive an allocation of base acres if, with respect to the farm, the amount described in subparagraph (B) exceeds the amount described in subparagraph (C).
“(B) 5-YEAR AVERAGE SUM.—The amount described in this subparagraph, with respect to a farm, is the sum of—
“(i) the 5-year average of—
“(I) the acreage planted on the farm to all covered commodities for harvest, grazing, haying, silage or other similar purposes for the 2019 through 2023 crop years; and
“(II) any acreage on the farm that the producers were prevented from planting during the 2019 through 2023 crop years to covered commodities because of drought, flood, or other natural disaster, or other condition beyond the control of the producers, as determined by the Secretary; plus
“(ii) the lesser of—
“(I) 15 percent of the total acres on the farm; and
“(II) the 5-year average of—
“(aa) the acreage planted on the farm to eligible noncovered commodities for harvest, grazing, haying, silage, or other similar purposes for the 2019 through 2023 crop years; and
“(bb) any acreage on the farm that the producers were prevented from planting during the 2019 through 2023 crop years to eligible noncovered commodities because of drought, flood, or other natural disaster, or other condition beyond the control of the producers, as determined by the Secretary.
“(C) TOTAL NUMBER OF BASE ACRES FOR COVERED COMMODITIES.—The amount described in this subparagraph, with respect to a farm, is the total number of base acres for covered commodities on the farm (excluding unassigned crop base), as in effect on September 30, 2024.
“(D) EFFECT OF NO RECENT PLANTINGS OF COVERED COMMODITIES.—In the case of a farm for which the amount determined under clause (i) of subparagraph (B) is equal to zero, that farm shall be ineligible to receive an allocation of base acres under this subsection.
“(E) ACREAGE PLANTED ON THE FARM TO ELIGIBLE NONCOVERED COMMODITIES DEFINED.—In this paragraph, the term ‘acreage planted on the farm to eligible noncovered commodities’ means acreage planted on a farm to commodities other than covered commodities, trees, bushes, vines, grass, or pasture (including cropland that was idle or fallow), as determined by the Secretary.
“(4) NUMBER OF BASE ACRES.—Subject to paragraphs (3) and (8), the number of base acres allocated to an eligible farm shall—
“(A) be equal to the difference obtained by subtracting the amount determined under subparagraph (C) of paragraph (3) from the amount determined under subparagraph (B) of that paragraph; and
“(B) include unassigned crop base.
“(5) ALLOCATION OF ACRES.—
“(A) ALLOCATION.—The Secretary shall allocate the number of base acres under paragraph (4) among those covered commodities planted on the farm at any time during the 2019 through 2023 crop years.
“(B) ALLOCATION FORMULA.—The allocation of additional base acres for covered commodities shall be in proportion to the ratio of—
“(i) the 5-year average of—
“(I) the acreage planted on the farm to each covered commodity for harvest, grazing, haying, silage, or other similar purposes for the 2019 through 2023 crop years; and
“(II) any acreage on the farm that the producers were prevented from planting during the 2019 through 2023 crop years to that covered commodity because of drought, flood, or other natural disaster, or other condition beyond the control of the producers, as determined by the Secretary; to
“(ii) the 5-year average determined under paragraph (3)(B)(i).
“(C) INCLUSION OF ALL 5 YEARS IN AVERAGE.—For the purpose of determining a 5-year acreage average under subparagraph (B) for a farm, the Secretary shall not exclude any crop year in which a covered commodity was not planted.
“(D) TREATMENT OF MULTIPLE PLANTING OR PREVENTED PLANTING.—For the purpose of determining under subparagraph (B) the acreage on a farm that producers planted or were prevented from planting during the 2019 through 2023 crop years to covered commodities, if the acreage that was planted or prevented from being planted was devoted to another covered commodity in the same crop year (other than a covered commodity produced under an established practice of double cropping), the owner may elect the covered commodity to be used for that crop year in determining the 5-year average, but may not include both the initial covered commodity and the subsequent covered commodity.
“(E) LIMITATION.—The allocation of additional base acres among covered commodities on a farm under this paragraph may not result in a total number of base acres for the farm in excess of the total number of acres on the farm.
“(6) REDUCTION BY THE SECRETARY.—In carrying out this subsection, if the total number of eligible acres allocated to base acres across all farms in the United States under this subsection would exceed 30,000,000 acres, the Secretary shall apply an across-the-board, pro-rata reduction to the number of eligible acres to ensure the number of allocated base acres under this subsection is equal to 30,000,000 acres.
“(7) PAYMENT YIELD.—Beginning with crop year 2026, for the purpose of making price loss coverage payments under section 1116, the Secretary shall establish payment yields to base acres allocated under this subsection equal to—
“(A) the payment yield established on the farm for the applicable covered commodity; and
“(B) if no such payment yield for the applicable covered commodity exists, a payment yield—
“(i) equal to the average payment yield for the covered commodity for the county in which the farm is situated; or
“(ii) determined pursuant to section 1113(c).
“(8) TREATMENT OF NEW OWNERS.—In the case of a farm for which the owner on the date of enactment of this subsection was not the owner for the 2019 through 2023 crop years, the Secretary shall use the planting history of the prior owner or owners of that farm for purposes of determining—
“(A) eligibility under paragraph (3);
“(B) eligible acres under paragraph (4); and
“(C) the allocation of acres under paragraph (5).”.
SEC. 10303. Producer election.
(a) In general.—Section 1115 of the Agricultural Act of 2014 (7 U.S.C. 9015) is amended—
(1) in subsection (a), in the matter preceding paragraph (1), by striking “2023” and inserting “2031”;
(2) in subsection (c)—
(A) in the matter preceding paragraph (1)—
(i) by striking “crop year or” and inserting “crop year,”; and
(ii) by inserting “or the 2026 crop year,” after “2019 crop year,”;
(B) in paragraph (1)—
(i) by striking “crop year or” and inserting “crop year,”; and
(ii) by inserting “or the 2026 crop year,” after “2019 crop year,”; and
(C) in paragraph (2)—
(i) in subparagraph (A), by striking “and” at the end;
(ii) in subparagraph (B), by striking the period at the end and inserting “; and”; and
(iii) by adding at the end the following:
“(C) the same coverage for each covered commodity on the farm for the 2027 through 2031 crop years as was applicable for the 2025 crop year.”; and
(3) by adding at the end the following:
“(i) Higher of price loss coverage payments and agriculture risk coverage payments.—For the 2025 crop year, the Secretary shall, on a covered commodity-by-covered commodity basis, make the higher of price loss coverage payments under section 1116 and agriculture risk coverage county coverage payments under section 1117 to the producers on a farm for the payment acres for each covered commodity on the farm.”.
(b) Federal crop insurance supplemental coverage option.—Section 508(c)(4)(C)(iv) of the Federal Crop Insurance Act (7 U.S.C. 1508(c)(4)(C)(iv)) is amended by striking “Crops for which the producer has elected under section 1116 of the Agricultural Act of 2014 to receive agriculture risk coverage and acres” and inserting “Acres” .
SEC. 10304. Price loss coverage.
Section 1116 of the Agricultural Act of 2014 (7 U.S.C. 9016) is amended—
(1) in subsection (a)(2), in the matter preceding subparagraph (A), by striking “2023” and inserting “2031”;
(2) in subsection (c)(1)(B)—
(A) in the subparagraph heading, by striking “2023” and inserting “2031”; and
(B) in the matter preceding clause (i), by striking “2023” and inserting “2031”;
(3) in subsection (d), in the matter preceding paragraph (1), by striking “2025” and inserting “2031”; and
(4) in subsection (g)—
(A) by striking “subparagraph (F) of section 1111(19)” and inserting “paragraph (19)(A)(vi) of section 1111”; and
(B) by striking “2012 through 2016” each place it appears and inserting “2017 through 2021”.
SEC. 10305. Agriculture risk coverage.
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”.
SEC. 10306. Equitable treatment of certain entities.
(a) In general.—Section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308) is amended—
(1) in subsection (a)—
(A) by redesignating paragraph (5) as paragraph (6); and
(B) by inserting after paragraph (4) the following:
“(5) QUALIFIED PASS-THROUGH ENTITY.—The term ‘qualified pass-through entity’ means—
“(A) a partnership (within the meaning of subchapter K of chapter 1 of the Internal Revenue Code of 1986);
“(B) an S corporation (as defined in section 1361 of that Code);
“(C) a limited liability company that does not affirmatively elect to be treated as a corporation; and
“(D) a joint venture or general partnership.”;
(2) in subsections (b) and (c), by striking “except a joint venture or general partnership” each place it appears and inserting “except a qualified pass-through entity”; and
(3) in subsection (d), by striking “subtitle B of title I of the Agricultural Act of 2014 or”.
(b) Attribution of payments.—Section 1001(e)(3)(B)(ii) of the Food Security Act of 1985 (7 U.S.C. 1308(e)(3)(B)(ii)) is amended—
(1) in the clause heading, by striking “joint ventures and general partnerships” and inserting “qualified pass-through entities”;
(2) by striking “a joint venture or a general partnership” and inserting “a qualified pass-through entity”;
(3) by striking “joint ventures and general partnerships” and inserting “qualified pass-through entities”; and
(4) by striking “the joint venture or general partnership” and inserting “the qualified pass-through entity”.
(c) Persons actively engaged in farming.—Section 1001A(b)(2) of the Food Security Act of 1985 (7 U.S.C. 1308–1(b)(2)) is amended—
(1) subparagraphs (A) and (B), by striking “a general partnership, a participant in a joint venture” each place it appears and inserting “a qualified pass-through entity”; and
(2) in subparagraph (C), by striking “a general partnership, joint venture, or similar entity” and inserting “a qualified pass-through entity or a similar entity”.
(d) Joint and several liability.—Section 1001B(d) of the Food Security Act of 1985 (7 U.S.C. 1308–2(d)) is amended by striking “partnerships and joint ventures” and inserting “qualified pass-through entities”.
(e) Exclusion from AGI calculation.—Section 1001D(d) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(d)) is amended by striking “, general partnership, or joint venture” each place it appears.
SEC. 10307. Payment limitations.
Section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308) is amended—
(1) in subsection (b)—
(A) by striking “The” and inserting “Subject to subsection (i), the”; and
(B) by striking “$125,000” and inserting “$155,000”;
(2) in subsection (c)—
(A) by striking “The” and inserting “Subject to subsection (i), the”; and
(B) by striking “$125,000” and inserting “$155,000”; and
(3) by adding at the end the following:
“(i) Adjustment.—For the 2025 crop year and each crop year thereafter, the Secretary shall annually adjust the amounts described in subsections (b) and (c) for inflation based on the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor.”.
SEC. 10308. Adjusted gross income limitation.
Section 1001D(b) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(b)) is amended—
(1) in paragraph (1), by striking “paragraph (3)” and inserting “paragraphs (3) and (4)”; and
(2) by adding at the end the following:
“(4) EXCEPTION FOR CERTAIN OPERATIONS.—
“(A) DEFINITIONS.—In this paragraph:
“(i) EXCEPTED PAYMENT OR BENEFIT.—The term ‘excepted payment or benefit’ means—
“(I) a payment or benefit under subtitle E of title I of the Agricultural Act of 2014 (7 U.S.C. 9081 et seq.);
“(II) a payment or benefit under section 196 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7333); and
“(III) a payment or benefit described in paragraph (2)(C) received on or after October 1, 2024.
“(ii) FARMING, RANCHING, OR SILVICULTURE ACTIVITIES.—The term ‘farming, ranching, or silviculture activities’ includes agri-tourism, direct-to-consumer marketing of agricultural products, the sale of agricultural equipment owned by the person or legal entity, and other agriculture-related activities, as determined by the Secretary.
“(B) EXCEPTION.—In the case of an excepted payment or benefit, the limitation established by paragraph (1) shall not apply to a person or legal entity during a crop, fiscal, or program year, as appropriate, if greater than or equal to 75 percent of the average gross income of the person or legal entity derives from farming, ranching, or silviculture activities.”.
SEC. 10309. Marketing loans.
(a) Availability of nonrecourse marketing assistance loans for loan commodities.—Section 1201(b)(1) of the Agricultural Act of 2014 (7 U.S.C. 9031(b)(1)) is amended by striking “2023” and inserting “2031”.
(b) Loan rates for nonrecourse marketing assistance loans.—Section 1202 of the Agricultural Act of 2014 (7 U.S.C. 9032) is amended—
(1) in subsection (b)—
(A) in the subsection heading, by striking “2023” and inserting “2025”; and
(B) in the matter preceding paragraph (1), by striking “2023” and inserting “2025”;
(2) by redesignating subsections (c) and (d) as subsections (d) and (e), respectively;
(3) by inserting after subsection (b) the following:
“(c) 2026 through 2031 crop years.—For purposes of each of the 2026 through 2031 crop years, the loan rate for a marketing assistance loan under section 1201 for a loan commodity shall be equal to the following:
“(1) In the case of wheat, $3.72 per bushel.
“(2) In the case of corn, $2.42 per bushel.
“(3) In the case of grain sorghum, $2.42 per bushel.
“(4) In the case of barley, $2.75 per bushel.
“(5) In the case of oats, $2.20 per bushel.
“(6) In the case of upland cotton, $0.55 per pound.
“(7) In the case of extra long staple cotton, $1.00 per pound.
“(8) In the case of long grain rice, $7.70 per hundredweight.
“(9) In the case of medium grain rice, $7.70 per hundredweight.
“(10) In the case of soybeans, $6.82 per bushel.
“(11) In the case of other oilseeds, $11.10 per hundredweight for each of the following kinds of oilseeds:
“(A) Sunflower seed.
“(B) Rapeseed.
“(C) Canola.
“(D) Safflower.
“(E) Flaxseed.
“(F) Mustard seed.
“(G) Crambe.
“(H) Sesame seed.
“(I) Other oilseeds designated by the Secretary.
“(12) In the case of dry peas, $6.87 per hundredweight.
“(13) In the case of lentils, $14.30 per hundredweight.
“(14) In the case of small chickpeas, $11.00 per hundredweight.
“(15) In the case of large chickpeas, $15.40 per hundredweight.
“(16) In the case of graded wool, $1.60 per pound.
“(17) In the case of nongraded wool, $0.55 per pound.
“(18) In the case of mohair, $5.00 per pound.
“(19) In the case of honey, $1.50 per pound.
“(20) In the case of peanuts, $390 per ton.”;
(4) in subsection (d) (as so redesignated), by striking “(a)(11) and (b)(11)” and inserting “(a)(11), (b)(11), and (c)(11)”; and
(5) in subsection (e) (as so redesignated), in paragraph (1), by striking “$0.25” and inserting “$0.30”.
(c) Payment of cotton storage costs.—Section 1204(g) of the Agricultural Act of 2014 (7 U.S.C. 9034(g)) is amended—
(1) by striking “Effective” and inserting the following:
“(1) CROP YEARS 2014 THROUGH 2025.—Effective”;
(2) in paragraph (1) (as so designated), by striking “2023” and inserting “2025”; and
(3) by adding at the end the following:
“(2) PAYMENT OF COTTON STORAGE COSTS.—Effective for each of the 2026 through 2031 crop years, the Secretary shall make cotton storage payments for upland cotton and extra long staple cotton available in the same manner as the Secretary provided storage payments for the 2006 crop of upland cotton, except that the payment rate shall be equal to the lesser of—
“(A) the submitted storage charge for the current marketing year; and
“(B) in the case of storage in—
“(i) California or Arizona, a payment rate of $4.90; and
“(ii) any other State, a payment rate of $3.00.”.
(d) Loan deficiency payments.—
(1) CONTINUATION.—Section 1205(a)(2)(B) of the Agricultural Act of 2014 (7 U.S.C. 9035(a)(2)(B)) is amended by striking “2023” and inserting “2031”.
(2) PAYMENTS IN LIEU OF LDPS.—Section 1206 of the Agricultural Act of 2014 (7 U.S.C. 9036) is amended, in subsections (a) and (d), by striking “2023” each place it appears and inserting “2031”.
(e) Special competitive provisions for extra long staple cotton.—Section 1208(a) of the Agricultural Act of 2014 (7 U.S.C. 9038(a)) is amended, in the matter preceding paragraph (1), by striking “2026” and inserting “2032”.
(f) Availability of recourse loans.—Section 1209 of the Agricultural Act of 2014 (7 U.S.C. 9039) is amended, in subsections (a)(2), (b), and (c), by striking “2023” each place it appears and inserting “2031”.
SEC. 10310. Repayment of marketing loans.
Section 1204 of the Agricultural Act of 2014 (7 U.S.C. 9034) is amended—
(1) in subsection (b)—
(A) by redesignating paragraph (1) as subparagraph (A) and indenting appropriately;
(B) in the matter preceding subparagraph (A) (as so redesignated), by striking “The Secretary” and inserting the following:
“(1) IN GENERAL.—The Secretary”; and
(C) by striking paragraph (2) and inserting the following:
“(B) (i) in the case of long grain rice and medium grain rice, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section; or
“(ii) in the case of upland cotton, the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section.
“(2) REFUND FOR UPLAND COTTON.—In the case of a repayment for a marketing assistance loan for upland cotton at a rate described in paragraph (1)(B)(ii), the Secretary shall provide to the producer a refund (if any) in an amount equal to the difference between the lowest prevailing world market price, as determined and adjusted by the Secretary in accordance with this section, during the 30-day period following the date on which the producer repays the marketing assistance loan and the repayment rate.”;
(2) in subsection (c)—
(A) by striking the period at the end and inserting “; and”;
(B) by striking “at the loan rate” and inserting the following: "at a rate that is the lesser of—
“(1) the loan rate”; and
(C) by adding at the end the following:
“(2) the prevailing world market price for the commodity, as determined and adjusted by the Secretary in accordance with this section.”;
(3) in subsection (d)—
(A) in paragraph (1), by striking “and medium grain rice” and inserting “medium grain rice, and extra long staple cotton”;
(B) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and indenting appropriately;
(C) in the matter preceding subparagraph (A) (as so redesignated), by striking “For purposes” and inserting the following:
“(1) IN GENERAL.—For purposes”; and
(D) by adding at the end the following:
“(2) UPLAND COTTON.—In the case of upland cotton, for any period when price quotations for Middling (M) 13⁄32 -inch cotton are available, the formula under paragraph (1)(A) shall be based on the average of the 3 lowest-priced growths that are quoted.”; and
(4) in subsection (e)—
(A) in the subsection heading, by inserting “extra long staple cotton,” after “Upland cotton,”;
(B) in paragraph (2)—
(i) in the paragraph heading, by inserting “Upland” before “Cotton”; and
(ii) in subparagraph (B), in the matter preceding clause (i), by striking “2024” and inserting “2032”;
(C) by redesignating paragraph (3) as paragraph (4); and
(D) by inserting after paragraph (2) the following:
“(3) EXTRA LONG STAPLE COTTON.—The prevailing world market price for extra long staple cotton determined under subsection (d)—
“(A) shall be adjusted to United States quality and location, with the adjustment to include the average costs to market the commodity, including average transportation costs, as determined by the Secretary; and
“(B) may be further adjusted, during the period beginning on the date of enactment of the Act entitled ‘An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14’ (119th Congress) and ending on July 31, 2032, if the Secretary determines the adjustment is necessary—
“(i) to minimize potential loan forfeitures;
“(ii) to minimize the accumulation of stocks of extra long staple cotton by the Federal Government;
“(iii) to ensure that extra long staple cotton produced in the United States can be marketed freely and competitively; and
“(iv) to ensure an appropriate transition between current-crop and forward-crop price quotations, except that the Secretary may use forward-crop price quotations prior to July 31 of a marketing year only if—
“(I) there are insufficient current-crop price quotations; and
“(II) the forward-crop price quotation is the lowest such quotation available.”.
SEC. 10311. Economic adjustment assistance for textile mills.
Section 1207(c) of the Agricultural Act of 2014 (7 U.S.C. 9037(c)) is amended by striking paragraph (2) and inserting the following:
“(2) VALUE OF ASSISTANCE.—The value of the assistance provided under paragraph (1) shall be—
“(A) for the period beginning on August 1, 2013, and ending on July 31, 2025, 3 cents per pound; and
“(B) beginning on August 1, 2025, 5 cents per pound.”.
SEC. 10312. Sugar program updates.
(a) Loan rate modifications.—Section 156 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7272) is amended—
(1) in subsection (a)—
(A) in paragraph (4), by striking “and” at the end;
(B) in paragraph (5), by striking “2023 crop years.” and inserting “2024 crop years; and”; and
(C) by adding at the end the following:
“(6) 24.00 cents per pound for raw cane sugar for each of the 2025 through 2031 crop years.”;
(2) in subsection (b)—
(A) in paragraph (1), by striking “and” at the end;
(B) in paragraph (2), by striking “2023 crop years.” and inserting “2024 crop years; and”; and
(C) by adding at the end the following:
“(3) a rate that is equal to 136.55 percent of the loan rate per pound of raw cane sugar under subsection (a)(6) for each of the 2025 through 2031 crop years.”; and
(3) in subsection (i), by striking “2023” and inserting “2031”.
(b) Adjustments to Commodity Credit Corporation storage rates.—Section 167 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7287) is amended—
(1) by striking subsection (a) and inserting the following:
“(a) In general.—For the 2025 crop year and each subsequent crop year, the Commodity Credit Corporation shall establish rates for the storage of forfeited sugar in an amount that is not less than—
“(1) in the case of refined sugar, 34 cents per hundredweight per month; and
“(2) in the case of raw cane sugar, 27 cents per hundredweight per month.”; and
(2) in subsection (b)—
(A) in the subsection heading, by striking “Subsequent” and inserting “Prior”; and
(B) by striking “and subsequent” and inserting “through 2024”.
(c) Modernizing beet sugar allotments.—
(1) SUGAR ESTIMATES.—Section 359b(a)(1) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359bb(a)(1)) is amended by striking “2023” and inserting “2031”.
(2) ALLOCATION TO PROCESSORS.—Section 359c(g)(2) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359cc(g)(2)) is amended—
(A) by striking “In the case” and inserting the following:
“(A) IN GENERAL.—Except as provided in subparagraph (B), in the case”; and
(B) by adding at the end the following:
“(B) EXCEPTION.—If the Secretary makes an upward adjustment under paragraph (1)(A), in adjusting allocations among beet sugar processors, the Secretary shall give priority to beet sugar processors with available sugar.”.
(3) TIMING OF REASSIGNMENT.—Section 359e(b)(2) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359ee(b)(2)) is amended—
(A) by redesignating subparagraphs (A) through (C) as clauses (i) through (iii), respectively, and indenting appropriately;
(B) in the matter preceding clause (i) (as so redesignated), by striking “If the Secretary” and inserting the following:
“(A) IN GENERAL.—If the Secretary”; and
(C) by adding at the end the following:
“(B) TIMING.—In carrying out subparagraph (A), the Secretary shall—
“(i) make an initial determination based on the World Agricultural Supply and Demand Estimates approved by the World Agricultural Outlook Board for January that shall be applicable to the crop year for which allotments are required; and
“(ii) provide for an initial reassignment under subparagraph (A)(i) not later than 30 days after the date on which the World Agricultural Supply and Demand Estimates described in clause (i) is released.”.
(d) Reallocations of tariff-rate quota shortfall.—Section 359k of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359kk) is amended by adding at the end the following:
“(c) Reallocation.—
“(1) INITIAL REALLOCATION.—Subject to paragraph (3), following the establishment of the tariff-rate quotas under subsection (a) for a quota year, the Secretary shall—
“(A) determine which countries do not intend to fulfill their allocation for the quota year; and
“(B) reallocate any forecasted shortfall in the fulfillment of the tariff-rate quotas as soon as practicable.
“(2) SUBSEQUENT REALLOCATION.—Subject to paragraph (3), not later than March 1 of a quota year, the Secretary shall reallocate any additional forecasted shortfall in the fulfillment of the tariff-rate quotas for raw cane sugar established under subsection (a)(1) for that quota year.
“(3) CESSATION OF EFFECTIVENESS.—Paragraphs (1) and (2) shall cease to be in effect if—
“(A) the Agreement Suspending the Countervailing Duty Investigation on Sugar from Mexico, signed December 19, 2014, is terminated; and
“(B) no countervailing duty order under subtitle A of title VII of the Tariff Act of 1930 (19 U.S.C. 1671 et seq.) is in effect with respect to sugar from Mexico.
“(d) Refined sugar.—
“(1) DEFINITION OF DOMESTIC SUGAR INDUSTRY.—In this subsection, the term ‘domestic sugar industry’ means domestic—
“(A) sugar beet producers and processors;
“(B) producers and processors of sugar cane; and
“(C) refiners of raw cane sugar.
“(2) STUDY REQUIRED.—
“(A) IN GENERAL.—Not later than 180 days after the date of enactment of this subsection, the Secretary shall conduct a study on whether the establishment of additional terms and conditions with respect to refined sugar imports is necessary and appropriate.
“(B) ELEMENTS.—In conducting the study under subparagraph (A), the Secretary shall examine the following:
“(i) The need for—
“(I) defining ‘refined sugar’ as having a minimum polarization of 99.8 degrees or higher;
“(II) establishing a standard for color- or reflectance-based units for refined sugar such as those utilized by the International Commission of Uniform Methods of Sugar Analysis;
“(III) prescribing specifications for packaging type for refined sugar;
“(IV) prescribing specifications for transportation modes for refined sugar;
“(V) requiring evidence that sugar imported as refined sugar will not undergo further refining in the United States;
“(VI) prescribing appropriate terms and conditions to avoid unlawful sugar imports; and
“(VII) establishing other definitions, terms and conditions, or other requirements.
“(ii) The potential impact of modifications described in each of subclauses (I) through (VII) of clause (i) on the domestic sugar industry.
“(iii) Whether, based on the needs described in clause (i) and the impact described in clause (ii), the establishment of additional terms and conditions is appropriate.
“(C) CONSULTATION.—In conducting the study under subparagraph (A), the Secretary shall consult with representatives of the domestic sugar industry and users of refined sugar.
“(D) REPORT.—Not later than 1 year after the date of enactment of this subsection, the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that describes the findings of the study conducted under subparagraph (A).
“(3) ESTABLISHMENT OF ADDITIONAL TERMS AND CONDITIONS PERMITTED.—
“(A) IN GENERAL.—Based on the findings in the report submitted under paragraph (2)(D), and after providing notice to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate, the Secretary may issue regulations in accordance with subparagraph (B) to establish additional terms and conditions with respect to refined sugar imports that are necessary and appropriate.
“(B) PROMULGATION OF REGULATIONS.—The Secretary may issue regulations under subparagraph (A) if the regulations—
“(i) do not have an adverse impact on the domestic sugar industry; and
“(ii) are consistent with the requirements of this part, section 156 of the Federal Agriculture Improvement and Reform Act of 1996 (7 U.S.C. 7272), and obligations under international trade agreements that have been approved by Congress.”.
(e) Clarification of tariff-rate quota adjustments.—Section 359k(b)(1) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359kk(b)(1)) is amended, in the matter preceding subparagraph (A), by striking “if there is an” and inserting “for the sole purpose of responding directly to an”.
(f) Period of effectiveness.—Section 359l(a) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359ll(a)) is amended by striking “2023” and inserting “2031”.
SEC. 10313. Dairy policy updates.
(a) Dairy margin coverage production history.—
(1) DEFINITION.—Section 1401(8) of the Agricultural Act of 2014 (7 U.S.C. 9051(8)) is amended by striking “when the participating dairy operation first registers to participate in dairy margin coverage”.
(2) PRODUCTION HISTORY OF PARTICIPATING DAIRY OPERATIONS.—Section 1405 of the Agricultural Act of 2014 (7 U.S.C. 9055) is amended by striking subsections (a) and (b) and inserting the following:
“(a) Production history.—Except as provided in subsection (b), the production history of a dairy operation for dairy margin coverage is equal to the highest annual milk marketings of the participating dairy operation during any 1 of the 2021, 2022, or 2023 calendar years.
“(b) Election by new dairy operations.—In the case of a participating dairy operation that has been in operation for less than a year, the participating dairy operation shall elect 1 of the following methods for the Secretary to determine the production history of the participating dairy operation:
“(1) The volume of the actual milk marketings for the months the participating dairy operation has been in operation extrapolated to a yearly amount.
“(2) An estimate of the actual milk marketings of the participating dairy operation based on the herd size of the participating dairy operation relative to the national rolling herd average data published by the Secretary.”.
(b) Dairy margin coverage payments.—Section 1406(a)(1)(C) of the Agricultural Act of 2014 (7 U.S.C. 9056(a)(1)(C)) is amended by striking “5,000,000” each place it appears and inserting “6,000,000”.
(c) Premiums for dairy margins.—
(1) TIER I.—Section 1407(b) of the Agricultural Act of 2014 (7 U.S.C. 9057(b)) is amended—
(A) in the subsection heading, by striking “5,000,000” and inserting “6,000,000”; and
(B) in paragraph (1), by striking “5,000,000” and inserting “6,000,000”.
(2) TIER II.—Section 1407(c) of the Agricultural Act of 2014 (7 U.S.C. 9057(c)) is amended—
(A) in the subsection heading, by striking “5,000,000” and inserting “6,000,000”; and
(B) in paragraph (1), by striking “5,000,000” and inserting “6,000,000”.
(3) PREMIUM DISCOUNTS.—Section 1407(g) of the Agricultural Act of 2014 (7 U.S.C. 9057(g)) is amended—
(A) in paragraph (1)—
(i) by striking “2019 through 2023” and inserting “2026 through 2031”; and
(ii) by striking “January 2019” and inserting “January 2026”; and
(B) in paragraph (2), by striking “2023” each place it appears and inserting “2031”.
(d) Duration.—Section 1409 of the Agricultural Act of 2014 (7 U.S.C. 9059) is amended by striking “2025” and inserting “2031”.
SEC. 10314. Implementation.
Section 1614(c) of the Agricultural Act of 2014 (7 U.S.C. 9097(c)) is amended by adding at the end the following:
“(5) FURTHER FUNDING.—The Secretary shall make available to carry out subtitle C of title I of the Act entitled ‘An Act to provide for reconciliation pursuant to title II of H. Con. Res. 14’ (119th Congress) and the amendments made by that subtitle $50,000,000, to remain available until expended, of which—
“(A) not less than $5,000,000 shall be used to carry out paragraphs (3) and (4) of subsection (b);
“(B) $3,000,000 shall be used for activities described in paragraph (3)(A);
“(C) $3,000,000 shall be used for activities described in paragraph (3)(B);
“(D) $9,000,000 shall be used—
“(i) to carry out mandatory surveys of dairy production cost and product yield information to be reported by manufacturers required to report under section 273 of the Agricultural Marketing Act of 1946 (7 U.S.C. 1637b), for all products processed in the same facility or facilities; and
“(ii) to publish the results of such surveys biennially; and
“(E) $1,000,000 shall be used to conduct the study under subsection (d) of section 359k of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1359kk).”.