From the 2031 crop year each price rises by half a percent a year
What the document says“Effective beginning with the 2031 crop year, the reference prices defined in subparagraph (A) with respect to a covered commodity shall equal the reference price in the previous crop year multiplied by 1.005.”
The section provides that beginning with the 2031 crop year each listed reference price equals the reference price for the previous crop year multiplied by 1.005.
What the document actually says“Effective beginning with the 2031 crop year, the reference prices defined in subparagraph (A) with respect to a covered commodity shall equal the reference price in the previous crop year multiplied by 1.005.”
From the 2031 crop year each price grows. It equals last year's price times 1.005.
That works out to a rise of half a percent a year. The rise builds on the year before. It starts only in 2031.
No action is recorded against this proposal. That is not evidence that none has been taken, and nobody has yet read it against the record. See what the tracker does not yet cover.