II
113th CONGRESS
2d Session
S. 2984
IN THE SENATE OF THE UNITED STATES
December 4, 2014
Mr. Chambliss introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
A BILL
To modify the definition of cotton futures contracts in the United States Cotton Futures Act.
Cotton futures contracts
Section 1952(c) of the United States Cotton Futures Act (7 U.S.C. 15B(c)) is amended by striking paragraph (1) and inserting the following:
Cotton futures contract
The term cotton futures contract means any contract of sale of cotton for future delivery made at, on, or in any exchange, board of
trade, or similar institution or place of business which has been
designated a contract market
by the Commodity Futures Trading Commission pursuant to the Commodity Exchange Act (7 U.S.C. 1 et
seq.) and the term contract of sale as so used shall be held to include sales, agreements of sale, and agreements to sell, except
that—
any cotton futures contract that, by its terms, is settled in cash is excluded from the coverage of this paragraph and section; and
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.
.