1086 
tion determines are necessary to mon-
itor the development effort; 
‘‘(IV) the proposed budget and 
timetable are reasonable, as deter-
mined by the Board; and 
‘‘(V) the concept proposal meets 
any other requirements that the 
Board determines appropriate. 
‘‘(ii) WAIVER.—The Board may waive 
the 50-percent limitation and, upon re-
quest of the submitter after the submitter 
has begun research and development activi-
ties, the Board may approve an additional 
25 percent advance payment to the sub-
mitter for research and development costs, 
if, at the sole discretion of the Board, the 
Board determines that— 
‘‘(I) the intended policy or plan 
of insurance developed by the sub-
mitter will provide coverage for a re-
gion or crop that is underserved by 
the Federal crop insurance program, 
including specialty crops; 
‘‘(II) the submitter is making 
satisfactory progress towards devel-
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oping a viable and marketable policy 
or plan of insurance consistent with 
section 508(h); and 
‘‘(III) the submitter does not 
have sufficient financial resources to 
complete the development of the sub-
mission into a viable and marketable 
policy or plan of insurance consistent 
with section 508(h).’’. 
SEC. 11019. WHOLE FARM RISK MANAGEMENT INSURANCE. 
Section 522(c) of the Federal Crop Insurance Act (7 
U.S.C. 1522(c)) is amended by adding at the end the fol-
lowing: 
‘‘(18) WHOLE FARM DIVERSIFIED RISK MAN-
AGEMENT INSURANCE PLAN.— 
‘‘(A) IN GENERAL.—The Corporation shall 
conduct activities or enter into contracts to 
carry out research and development to develop 
a whole farm risk management insurance plan, 
with a liability limitation of $1,500,000, that 
allows a diversified crop or livestock producer 
the option to qualify for an indemnity if actual 
gross farm revenue is below 85 percent of the 
average gross farm revenue or the expected 
gross farm revenue that can reasonably be ex-
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pected of the producer, as determined by the 
Corporation. 
‘‘(B) ELIGIBLE
PRODUCERS.—The Cor-
poration shall permit producers (including di-
rect-to-consumer 
marketers, 
and 
producers 
servicing local and regional and farm identity- 
preserved markets) who produce multiple agri-
cultural commodities, including specialty crops, 
industrial crops, livestock, and aquaculture 
products, to participate in the plan in lieu of 
any other plan under this subtitle. 
‘‘(C) DIVERSIFICATION.—The Corporation 
may provide diversification-based additional 
coverage payment rates, premium discounts, or 
other enhanced benefits in recognition of the 
risk management benefits of crop and livestock 
diversification strategies for producers that 
grow multiple crops or that may have income 
from the production of livestock that uses a 
crop grown on the farm. 
‘‘(D) MARKET READINESS.—The Corpora-
tion may include coverage for the value of any 
packing, packaging, or any other similar on- 
farm activity the Corporation determines to be 
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the minimum required in order to remove the 
commodity from the field. 
‘‘(E) REPORT.—Not later than 2 years 
after the date of enactment of this paragraph, 
the Corporation shall submit to the Committee 
on Agriculture of the House of Representatives 
and the Committee on Agriculture, Nutrition, 
and Forestry of the Senate a report that de-
scribes the results and feasibility of the re-
search and development conducted under this 
paragraph, including an analysis of potential 
adverse market distortions.’’. 
SEC. 11020. STUDY OF FOOD SAFETY INSURANCE. 
Section 522(c) of the Federal Crop Insurance Act (7 
U.S.C. 1522(c)) (as amended by section 11018) is amend-
ed by adding at the end the following: 
‘‘(19) STUDY OF FOOD SAFETY INSURANCE.— 
‘‘(A) IN GENERAL.—The Corporation shall 
offer to enter into a contract with 1 or more 
qualified entities to conduct a study to deter-
mine whether offering policies that provide cov-
erage for specialty crops from food safety and 
contamination issues would benefit agricultural 
producers. 
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