; and (ii) 15 percent for fiscal year 2020; and (B) stocks of raw cane and refined beet sugar are adequate throughout the crop year to meet the needs of the marketplace, including the efficient utilization of cane refining capacity. . (b) Repeal and replacement (1) In general Effective October 1, 2020, part VII of subtitle B of title III of the Agricultural Adjustment Act of 1938 ( 7 U.S.C. 1359aa et seq.) is amended to read as follows: VII Sugar 359. Administration of tariff-rate quotas (a) Establishment Notwithstanding any other provision of law, at the beginning of fiscal year 2021 and each fiscal year thereafter through the end of the effective period, the Secretary shall establish the tariff-rate quotas for raw cane sugar and refined sugar to provide adequate supplies of sugar at reasonable prices, but at no less than the minimum level necessary to comply with obligations under international trade agreements that have been approved by Congress. (b) Adjustment authority The Secretary shall adjust tariff-rate quotas established under subsection (a) in such a manner as to ensure, to the maximum extent practicable, that— (1) the final ratio of sugar stocks to total sugar use at the end of a fiscal year will be approximately 15.5 percent for fiscal year 2021 and each fiscal year thereafter through the end of the effective period; and (2) stocks of raw cane and refined beet sugar are adequate throughout the crop year to meet the needs of the marketplace, including the efficient utilization of cane refining capacity. (c) Transfer of quota shares (1) In general The Secretary shall promulgate regulations that— (A) promote full use of the tariff-rate quotas for raw cane sugar and refined sugar and ensure adequate supplies for cane refiners in the United States