A bill to amend the Federal Crop Insurance Act, and for other purposes.

Summary

Declares that it is the purpose of this Act, under the Federal Crop Insurance Act, to promote the national welfare by improving the economic stability of agriculture through a system utilizing insurance principles under which farmers can voluntarily provide themselves with emergency assistance against the financial impact of crop disasters. Establishes, as an agency of the Department of Agriculture, a Federal Crop Insurance Corporation. Authorizes the Corporation to insure producers of wheat, cotton, grain, sorghum, corn, barley, and other agricultural commodities on an experimental basis, against loss of the insured commodity due to specified natural occurences. Authorizes the Corporation to limit, or refuse insurance on the basis of the risk involved. Establishes within the Treasury a separate fund for the use of the Corporation.

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1 official file

• Introduced in Senate

  summary · EN · 6 May 1975

  Open at official source

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