TRANSITION ASSISTANCE FOR PRODUCERS OF UPLAND COTTON.

SEC. 1119. TRANSITION ASSISTANCE FOR PRODUCERS OF UPLAND COTTON.(a) Availability.—(1) Purpose.—It is the purpose of this section to provide transition assistance to producers of upland cotton in light of the repeal of section 1103 of the Food, Conservation, and Energy Act of 2008 (7 U.S.C. 8713), the inapplicability of sections 1116 and 1117 to upland cotton, and the delayed implementation of the Stacked Income Protection Plan required by section 508B of the Federal Crop Insurance Act (7 U.S.C. 1508b), as added by section 11017 of this Act.(2) 2014 crop year.—For the 2014 crop of upland cotton, the Secretary shall provide transition assistance, pursuant to the terms and conditions of this section, to producers on a farm for which cotton base acres were in existence for the 2013 crop year.(3) 2015 crop year.—For the 2015 crop of upland cotton, the Secretary shall provide transition assistance, pursuant to the terms and conditions of this section, to producers on a farm—(A) for which cotton base acres were in existence for the 2013 crop year; and(B) that is located in a county in which the Stacked Income Protection Plan required by section 508B of the Federal Crop Insurance Act (7 U.S.C. 1508b) is not available to producers of upland cotton for the 2015 crop year.(b) Transition Assistance Rate.—The transition assistance rate shall be equal to the product obtained by multiplying—(1) the June 12, 2013, midpoint estimate for the marketing year average price of upland cotton received by producers for the marketing year beginning August 1, 2013, minus the December 10, 2013, midpoint estimate for the marketing year average price of upland cotton received by producers for the 128 STAT. 674 marketing year beginning August 1, 2013, as contained in the applicable World Agricultural Supply and Demand Estimates report published by the Department of Agriculture; and(2) the national program yield for upland cotton of 597 pounds per acre.(c) Calculation of Transition Assistance Amount.—The amount of transition assistance to be provided under this section to producers on a farm for a crop year shall be equal to the product obtained by multiplying—(1) for the 2014 crop year, 60 percent, and for the 2015 crop year, 36.5 percent, of the cotton base acres referred to in subsection (a) for the farm, subject to adjustment or reduction for conservation measures as provided in subsections (b) and (c) of section 1112;(2) the transition assistance rate in effect for the crop year under subsection (b); and(3) the payment yield for upland cotton for the farm established for purposes of section 1103(c)(3) of the Food, Conservation, and Energy Act of 2008 (7 U.S.C. 8713(c)(3)), divided by the national program yield for upland cotton of 597 pounds per acre.(d) Time for Payment.—The Secretary may not make transition assistance payments for a crop year under this section before October 1 of the calendar year in which the crop of upland cotton is harvested.(e) Payment Limitations.—Sections 1001 through 1001C of the Food Security Act of 1985 (7 U.S.C. 1308 through 1308C), as in effect on September 30, 2013, shall apply to the receipt of transition assistance under this section in the same manner as such sections applied to section 1103 of the Food, Conservation, and Energy Act of 2008 (7 U.S.C. 8713).