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H.R. 2620 (114th): To amend the United States Cotton Futures Act to exclude certain cotton futures contracts from coverage under such Act.

About the bill

H.R. 2620 amended the United States Cotton Futures Act to allow foreign cotton companies to participate in cotton futures trading.

  • A futures contract is an agreement to buy or sell a commodity sometime in the future. They are generally considered more secure than immediate exchange since the extra time gives investors more information.
  • Current law requires that all cotton included in a US exchange listed cotton futures contract be inspected and classified by the USDA. This makes it tough for multinational corporations growing and selling cotton outside the United States to gamble with cotton futures in the Wall Street If the cotton never comes to the United States, it won’t be inspected by the USDA and therefore isn’t allowed to be traded with futures.

Rep. Austin Scott (R-GA8) …

Sponsor and status

David Scott

Sponsor. Representative for Georgia's 13th congressional district. Democrat.

Read Text »
Last Updated: Oct 11, 2016
Length: 1 page
Jun 2, 2015
114th Congress (2015–2017)

Enacted — Signed by the President on Jul 20, 2015

This bill was enacted after being signed by the President on July 20, 2015.

Pub.L. 114-36

5 Cosponsors (4 Republicans, 1 Democrat)


Incorporated legislation

This bill incorporates provisions from:

S. 1655: A bill to amend the United States Cotton Futures Act to exclude certain cotton futures contracts from coverage under that Act.

Introduced on Jun 24, 2015. 98% incorporated. (compare text)


Jun 2, 2015

Bills and resolutions are referred to committees which debate the bill before possibly sending it on to the whole chamber.

Jun 17, 2015
Ordered Reported

A committee has voted to issue a report to the full chamber recommending that the bill be considered further. Only about 1 in 4 bills are reported out of committee.

Jun 23, 2015
Passed House (Senate next)

The bill was passed in a vote in the House. It goes to the Senate next. The vote was by voice vote so no record of individual votes was made.

Jun 23, 2015
Reported by House Committee on Agriculture

A committee issued a report on the bill, which often provides helpful explanatory background on the issue addressed by the bill and the bill's intentions.

Jul 9, 2015
Passed Senate

The bill was passed by both chambers in identical form. It goes to the President next who may sign or veto the bill. The vote was by Unanimous Consent so no record of individual votes was made.

Jul 20, 2015
Enacted — Signed by the President

The President signed the bill and it became law.

H.R. 2620 (114th) was a bill in the United States Congress.

A bill must be passed by both the House and Senate in identical form and then be signed by the President to become law.

Bills numbers restart every two years. That means there are other bills with the number H.R. 2620. This is the one from the 114th Congress.

This bill was introduced in the 114th Congress, which met from Jan 6, 2015 to Jan 3, 2017. Legislation not passed by the end of a Congress is cleared from the books.

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