The bill establishes a Dairy Market Stabilization Program under the Secretary of Agriculture, requiring orders and a referendum for continuation after five years, aiming to stabilize the dairy market for all producers. It creates a governance structure with a National Dairy Producer Board for national administration and Regional Milk Marketing Order Boards for regional oversight, with noncontiguous states able to opt in. The National Board advises on estimating milk production, establishing a variable floor price based on herd size and production costs, and administering national and regional production bases. Each Regional Board , composed of elected producers, consumers, bottlers, and processors, coordinates milk handling, adjusts producer pay prices, and manages administrative fees, subject to transparency requirements. A core component involves establishing national production base and regional production bases , adjusted annually to align milk supply and demand. Each producer is allocated allowable milk marketings quarterly, determined by past production or, for new producers, by the Regional Board. Producers exceeding their allowable milk marketings are assessed market access fees , collected by milk handlers and deposited into a protected account. Producers adhering to their allowable milk marketings receive market access fee dividends from this account, distributed quarterly, provided they are actively engaged in farming . For the first two years, large dairies exceeding 1,000 percent of the national average in marketings are exempt from fees and dividends, receiving incentives to reduce production. The bill also suspends several existing federal dairy programs, including Dairy Margin Coverage and Dairy Revenue Protection, during the new program's operation. Furthermore, the bill mandates reforms to dairy import controls, requiring the Secretary to increase import license fees and subject all dairy products to tariff-rate quotas to the extent permitted by trade agreements. It also calls for annual publication of raw milk quantities in imported dairy products and expresses a Sense of Congress to seek lower quotas and additional import restrictions in trade negotiations. The legislation requires annual reports on the economic impacts of market consolidation on dairy prices for consumers and producers. it also proposes significant investments in regional dairy infrastructure, including grant programs for small-scale dairy training, assistance for farmworkers transitioning to ownership, and a dairy production apprenticeship program. Additional provisions include expanding the availability of Dairy Business Innovation Initiatives to all states and territories and increasing its authorization to $50 million. It also establishes a new program for cost-share grants to enhance regional milkshed markets, supporting new processing plants, local purchasing, on-farm processing, and co-packing, with an authorization of $50 million annually. Finally, it amends the Local Agriculture Market Program (LAMP) to ensure its availability across states and territories and significantly increases its funding.