Crop Insurance Subsidy Reduction Act - Amends the Federal Crop Insurance Act to reduce crop insurance premium subsidy rates.
[Congressional Bills 113th Congress]
[From the U.S. Government Publishing Office]
[H.R. 943 Introduced in House (IH)]
113th CONGRESS
1st Session
H. R. 943
To amend the Federal Crop Insurance Act to immediately reduce crop
insurance premium subsidy rates from the higher subsidies provided
since the Agricultural Risk Protection Act of 2000.
_______________________________________________________________________
IN THE HOUSE OF REPRESENTATIVES
March 4, 2013
Mr. Duncan of Tennessee introduced the following bill; which was
referred to the Committee on Agriculture
_______________________________________________________________________
A BILL
To amend the Federal Crop Insurance Act to immediately reduce crop
insurance premium subsidy rates from the higher subsidies provided
since the Agricultural Risk Protection Act of 2000.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Crop Insurance Subsidy Reduction
Act''.
SEC. 2. REDUCTION IN SHARE OF CROP INSURANCE PREMIUM PAID BY FEDERAL
CROP INSURANCE CORPORATION.
Section 508(e)(2) of the Federal Crop Insurance Act (7 U.S.C.
1508(e)(2)) is amended--
(1) in subparagraph (B)(i), by striking ``67'' and
inserting ``55'';
(2) by redesignating subparagraph (E) as subparagraph (G)
and, in clause (i) of such subparagraph, by striking ``55'' and
inserting ``24'';
(3) by redesignating subparagraph (F) as subparagraph (H)
and, in clause (i) of such subparagraph, by striking ``48'' and
inserting ``17'';
(4) by redesignating subparagraph (G) as subparagraph (I)
and, in clause (i) in such subparagraph, by striking ``38'' and
inserting ``13''; and
(5) by striking subparagraphs (C) and (D) and inserting the
following new subparagraphs:
``(C) In the case of additional coverage equal to
or greater than 55 percent, but less than 60 percent,
of the recorded or appraised average yield indemnified
at not greater than 100 percent of the expected market
price, or a comparable coverage for a policy or plan of
insurance that is not based on individual yield, the
amount shall be equal to the sum of--
``(i) 46 percent of the amount of the
premium established under subsection
(d)(2)(B)(i) for the coverage level selected;
and
``(ii) the amount determined under
subsection (d)(2)(B)(ii) for the coverage level
selected to cover operating and administrative
expenses.
``(D) In the case of additional coverage equal to
or greater than 60 percent, but less than 65 percent,
of the recorded or appraised average yield indemnified
at not greater than 100 percent of the expected market
price, or a comparable coverage for a policy or plan of
insurance that is not based on individual yield, the
amount shall be equal to the sum of--
``(i) 38 percent of the amount of the
premium established under subsection
(d)(2)(B)(i) for the coverage level selected;
and
``(ii) the amount determined under
subsection (d)(2)(B)(ii) for the coverage level
selected to cover operating and administrative
expenses.
``(E) In the case of additional coverage equal to
or greater than 65 percent, but less than 70 percent,
of the recorded or appraised average yield indemnified
at not greater than 100 percent of the expected market
price, or a comparable coverage for a policy or plan of
insurance that is not based on individual yield, the
amount shall be equal to the sum of--
``(i) 42 percent of the amount of the
premium established under subsection
(d)(2)(B)(i) for the coverage level selected;
and
``(ii) the amount determined under
subsection (d)(2)(B)(ii) for the coverage level
selected to cover operating and administrative
expenses.
``(F) In the case of additional coverage equal to
or greater than 70 percent, but less than 75 percent,
of the recorded or appraised average yield indemnified
at not greater than 100 percent of the expected market
price, or a comparable coverage for a policy or plan of
insurance that is not based on individual yield, the
amount shall be equal to the sum of--
``(i) 32 percent of the amount of the
premium established under subsection
(d)(2)(B)(i) for the coverage level selected;
and
``(ii) the amount determined under
subsection (d)(2)(B)(ii) for the coverage level
selected to cover operating and administrative
expenses.''.
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Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on General Farm Commodities and Risk Management.
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