MULTIPLE COMPONENT PRICING STUDY.

SEC. 116. MULTIPLE COMPONENT PRICING STUDY. (a) In General.— Not later than 60 days after the date of enactment of this Act, the Secretary of Agriculture shall initiate a study to determine whether, and to what extent, milkfat is being produced in the United States in excess of commercial market needs as a result of any provision of law, regulation, or order that affects the manner in which producers receive payment for milk on the basis of the milk components contained in their marketings of milk under any Federal or State milk pricing program. (b) Study.— In conducting the study, the Secretary shall assess the potential impact on achieving balance in the production, marketing, and domestic commercial use of milkfat through adoption of multiple component pricing programs under Federal and State milk pricing programs. (c) Report.— Not later that 180 days after the date of enactment of this Act, the Secretary shall— (1) report the results of the study conducted under subsection (a), together with associated recommendations, to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate; and (2) publish the results of the study. (d) Implementation in Federal Marketing Orders.— On completion and publication of the study described in this section, the Secretary shall— (1) announce a national hearing to consider the adoption of multiple component pricing provisions in individual Federal milk marketing orders issued under section 8c of the Agricultural Adjustment Act (7 U.S.C. 608c), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937; and (2) invite industry and consumer proposals on the specific provisions to be considered for each order.