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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.

The text of the bill below is as of Jun 23, 2015 (Reported by House Committee).


IB

Union Calendar No. 129

114th CONGRESS

1st Session

H. R. 2620

[Report No. 114–174]

IN THE HOUSE OF REPRESENTATIVES

June 2, 2015

(for himself, Mr. Austin Scott of Georgia, Mr. Westmoreland, and Mr. Bishop of Georgia) introduced the following bill; which was referred to the Committee on Agriculture

June 23, 2015

Additional sponsors: Mr. Crawford and Mr. Gibson

June 23, 2015

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed

Strike out all after the enacting clause and insert the part printed in italic

For text of introduced bill, see copy of bill as introduced on June 2, 2015


A BILL

To amend the United States Cotton Futures Act to exclude certain cotton futures contracts from coverage under such Act.


1.

Excluding certain cotton futures contracts from coverage under United States Cotton Futures Act

(a)

In general

Subsection (c)(1) of the United States Cotton Futures Act (7 U.S.C. 15B(c)(1)) is amended—

(1)

by striking except that any cotton futures contract and inserting the following:

except that—

(A)

any cotton futures contract

;

(2)

in subparagraph (A) (as designated by paragraph (1)), by striking the period at the end and inserting ; and; and

(3)

by adding at the end the following new subparagraph:

(B)

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 contract.

.

(b)

Application

The amendments made by subsection (a) shall apply with respect to cotton futures contracts entered into on or after the date of the enactment of this Act.

June 23, 2015

Reported with an amendment, committed to the Committee of the Whole House on the State of the Union, and ordered to be printed