[Congressional Bills 114th Congress]
[From the U.S. Government Publishing Office]
[S. 1655 Introduced in Senate (IS)]

114th CONGRESS
  1st Session
                                S. 1655

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


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                   IN THE SENATE OF THE UNITED STATES

                             June 24, 2015

  Mr. Perdue introduced the following bill; which was read twice and 
   referred to the Committee on Agriculture, Nutrition, and Forestry

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                                 A BILL


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

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 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) by striking the period at the end and inserting ``; 
        and''; and
            (3) by adding at the end the following:
                    ``(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 enactment of this Act.
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