CLASS I SKIM MILK PRICE.

SEC. 1403. CLASS I SKIM MILK PRICE. (a) Class I Skim Milk Price.—Section 8c(5)(A) of the Agricultural Adjustment Act (7 U.S.C. 608c(5)(A)), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937, is amended by striking “Throughout” in the third sentence and all that follows through the period at the end of the fourth sentence and inserting “Throughout the 2-year period beginning on the effective date of this sentence (and subsequent to such 2-year period unless modified by amendment to the order involved), for purposes of determining prices for milk of the highest use classification, the Class I skim milk price per hundredweight specified in section 1000.50(b) of title 7, Code of Federal Regulations (or successor regulations), shall be the sum of the adjusted Class I differential specified in section 1000.52 of such title 7 (or successor regulations), plus the adjustment to Class I prices specified in sections 1005.51(b), 1006.51(b), and 1007.51(b) of such title 7 (or successor regulations), plus the simple average of the advanced pricing factors computed in sections 1000.50(q)(1) and 1000.50(q)(2) of such title 7 (or successor regulations), plus $0.74.”. (b) [7 U.S.C. 608c note] Effective Date and Implementation.— (1) Effective date.—The amendment made by subsection (a) shall take effect on the first day of the first month beginning more than 120 days after the date of enactment of this Act. (2) Implementation.—Implementation of the amendment made by subsection (a) shall not be subject to any of the following: (A) The notice and comment provisions of section 553 of title 5, United States Code. (B) The notice and hearing requirements of section 8c(3) of the Agricultural Adjustment Act (7 U.S.C. 608c(3)), reenacted with amendments by the Agricultural Marketing Agreement Act of 1937. (C) The order amendment requirements of section 8c(17) of that Act (7 U.S.C. 608c(17)). (D) A referendum under section 8c(19) of that Act (7 U.S.C. 608c(19)).