SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Creating Reliability for Our 
Producers Act'' or ``CROP Act''.

SEC. 2. ADVANCE PAYMENTS FOR UNDERSERVED REGIONS AND CROPS.

    Section 522(b)(2) of the Federal Crop Insurance Act (7 U.S.C. 
1522(b)(2)) is amended by striking subparagraph (E) and inserting the 
following:
                    ``(E) Approval.--
                            ``(i) In general.--The Board may approve up 
                        to 75 percent of the projected total research 
                        and development costs to be paid in advance to 
                        an applicant, in accordance with the procedures 
                        developed by the Board for the making of the 
                        payments, if, after consideration of the 
                        reviewer reports described in subparagraph (D) 
                        and such other information as the Board 
                        determines appropriate, the Board determines--
                                    ``(I) the concept, in good faith, 
                                will likely result in a viable and 
                                marketable policy consistent with 
                                section 508(h);
                                    ``(II) in the sole opinion of the 
                                Board, the concept, if developed into a 
                                policy and approved by the Board, would 
                                provide crop insurance coverage--
                                            ``(aa) in a significantly 
                                        improved form;
                                            ``(bb) to a crop or region 
                                        not traditionally served by the 
                                        Federal crop insurance program; 
                                        or
                                            ``(cc) in a form that 
                                        addresses a recognized flaw or 
                                        problem in the program;
                                    ``(III) the applicant agrees to 
                                provide such reports as the Corporation 
                                determines are necessary to monitor the 
                                development effort;
                                    ``(IV) the proposed budget and 
                                timetable are reasonable; and
                                    ``(V) the concept proposal meets 
                                any other requirements that the Board 
                                determines appropriate.
                            ``(ii) Waiver.--The Board may waive the cap 
                        specified in clause (i) on the advance payment 
                        of costs and pay more of the projected total 
                        research and development costs in advance if, 
                        in the sole discretion of the Board, the Board 
                        determines that the concept proposal provides 
                        coverage for a region or crop that is 
                        underserved by the Federal crop insurance 
                        program, including specialty crops.''.

SEC. 3. AUTHORITY TO CONDUCT RESEARCH AND DEVELOPMENT.

    (a) In General.--Section 522(c) of the Federal Crop Insurance Act 
(7 U.S.C. 1522(c)) is amended--
            (1) in the subsection heading by striking ``Contracting'';
            (2) in paragraph (1), in the matter preceding subparagraph 
        (A), by striking ``may enter into contracts to carry out 
        research and development to'' and inserting ``may conduct 
        activities or enter into contracts to carry out research and 
        development to maintain or improve existing policies or develop 
        new policies to'';
            (3) in paragraph (2)--
                    (A) in subparagraph (A), by inserting ``conduct 
                research and development or'' after ``The Corporation 
                may''; and
                    (B) in subparagraph (B), by inserting ``conducting 
                research and development or'' after ``Before'';
            (4) in paragraph (5), by inserting ``after expert review in 
        accordance with section 505(e)'' after ``approved by the 
        Board''; and
            (5) in paragraph (6), by striking ``a pasture, range, and 
        forage program'' and inserting ``policies that increase 
        participation by producers of underserved agricultural 
        commodities, including specialty crops''.
    (b) Funding.--Section 522(e) of the Federal Crop Insurance Act (7 
U.S.C. 1522(e)) is amended--
            (1) in paragraph (2)--
                    (A) by striking ``(A) Authority.--'' and inserting 
                ``(A) Conducting and contracting for research and 
                development.--'';
                    (B) in subparagraph (A), by inserting ``conduct 
                research and development and'' after ``the Corporation 
                may use to''; and
                    (C) in subparagraph (B), by inserting ``conduct 
                research and development and'' after ``for the fiscal 
                year to'';
            (2) in paragraph (3), by striking ``to provide either 
        reimbursement payments or contract payments''; and
            (3) by striking paragraph (4).
Creating Reliability for Our Producers Act or CROP Act - Amends the Federal Crop Insurance Act to revise crop insurance provisions regarding approval of advance payments for a portion of specialty crop research and development costs.
CROP Act