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Full Text of this Amendment

SA 3684. Mr. FEINGOLD submitted an amendment intended to be proposed to amendment SA 3500 proposed by Mr. HARKIN (for himself, Mr. CHAMBLISS, Mr. BAUCUS, and Mr. GRASSLEY) to the bill H.R. 2419, to provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes; which was ordered to lie on the table; as follows:

Beginning on page 172, strike line 5 and all that follows through page 173, line 12 and insert the following:
``(a) Program Required.--
``(1) IN GENERAL.--Subject to paragraphs (2) and (3), the Secretary of Agriculture (referred to in this section as the `Secretary') shall establish a program under which milk producers and cooperative associations of producers are authorized to voluntarily enter into forward price contracts with milk handlers.
``(A) IN GENERAL.--Subject to subparagraph (C), the Secretary shall identify regions in which a dairy producer has 3 or less viable purchasers of milk within typical transportation distances, as determined by the Secretary.
``(B) LIMITATION.--Subject to subparagraph (C), in establishing the program under paragraph (1), the Secretary shall allow producers and cooperative associations in regions identified by the Secretary under subparagraph (A) to enter into forward contracts for not more than 50 percent of the annual purchases of the producers and cooperative associations.
``(C) MODIFICATIONS.--If the Secretary determines that it could improve competition or make anti-competitive behavior less likely, the Secretary may--
``(i) increase the number of viable purchasers that may be considered under subparagraph (A); or
``(ii) decrease the percentage of forward contracts described in subparagraph (B).
``(A) IN GENERAL.--As a condition of entering into a forward price contract described in paragraph (1), not later than 30 days after the date on which a milk producer or cooperative association of producers enters into the contract, the milk handler shall submit to the Secretary--
``(i) a copy of the contract; and
``(ii) such other supporting information as is necessary for the Secretary to fulfill the reporting requirements of subsection (f), as determined by the Secretary.
``(B) ADMINISTRATION.--Section 8d applies to a contract submitted under subparagraph (A).'';
(3) in subsection (c)--
(A) in the subsection heading, by striking ``Pilot''; and
(B) in paragraph (1), by striking ``pilot'';
(4) by striking subsections (d) and (e); and
(5) by adding at the end the following:
``(d) Voluntary Program.--
``(1) IN GENERAL.--A milk handler may not require participation in a forward price contract as a condition of the handler receiving milk from a producer or cooperative association of producers.
``(2) EFFECT OF NONPARTICIPATION.--A producer or cooperative association that does not enter into a forward price contract may continue to have milk priced under the minimum payment provisions of the applicable milk marketing order.
``(3) COMPLAINTS.--The Secretary shall--
``(A) investigate complaints made by producers or cooperative associations of coercion by handlers to enter into forward price contracts; and
``(B) if the Secretary finds evidence of coercion, take appropriate action.
``(e) Duration.--No forward price contract under this section may--
``(1) be entered into after September 30, 2012; or
``(2) may extend beyond September 30, 2015.
``(f) Reporting Requirements.--
``(1) MONTHLY PRICE AND VOLUME REPORTS.--Each month, the Secretary shall make available to the public a report containing statistics on the volume and price of forward contracts during the preceding month, organized by--
``(A) State, if the number of contracts in the State is large enough to maintain confidentiality, as determined by the Secretary; or
``(B) region.
``(2) ANNUAL REPORT.--Each year, the Secretary shall make available to the public a report that--
``(A) includes a summary and analysis of the monthly price reports;
``(B) analyzes contract terms and price differentials based on the volume and length of the forward contracts; and
``(C) describes, by State or smaller area if possible (as determined by the Secretary), the percentage of milk under forward contracts.''.

(As printed in the Congressional Record for the Senate on Nov 15, 2007.)