To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.

Summary

This bill amends the Federal Crop Insurance Act to modify the requirements for the federal crop insurance program. The bill: (1) limits the average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year to 9.6% of retained premiums, and (2) eliminates the requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between the Department of Agriculture [USDA] and the private companies that administer the federal crop insurance program that specifies details such as administrative and operating expense reimbursements and risk sharing. Eliminating the budget neutrality requirement permits USDA to use the renegotiation of the SRA to achieve savings.)

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 7 September 2017

   Introduced

   Referred to the House Committee on Agriculture.

   Source: IntroReferral

2. 7 September 2017

   Introduced

   Introduced in House

   Source: IntroReferral

3. 7 September 2017

   Introduced

   Introduced in House

   Source: IntroReferral

4. 15 September 2017

   Referred

   Referred to the Subcommittee on General Farm Commodities and Risk Management.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 7 September 2017 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 7 September 2017

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 7 September 2017

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 7 September 2017

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. Duncan, John J., Jr. [R-TN-2] · R · Sponsor
• Rep. Kind, Ron [D-WI-3] · D · Sponsor
• · hsag00 · Standing

Related records

• related to → A bill to amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.
• related to ← Families First Act of 2018