1066 
‘‘(A) SUBMISSIONS.—In addition’’; and 
(3) by adding at the end the following: 
‘‘(B) REVIEW.—The Corporation shall re-
view any policy developed under section 522(c) 
or any pilot program developed under section 
523 and submit the policy or program to the 
Board under this subsection if the Corporation, 
at the sole discretion of the Corporation, finds 
that the policy or program— 
‘‘(i) will likely result in a viable and 
marketable policy consistent with this sub-
section; 
‘‘(ii) would provide crop insurance 
coverage in a significantly improved form; 
and 
‘‘(iii) adequately protects the interests 
of producers.’’. 
SEC. 11009. BOARD REVIEW AND APPROVAL. 
(a) REVIEW AND APPROVAL BY THE BOARD.—Sec-
tion 508(h) of the Federal Crop Insurance Act (7 U.S.C. 
1508(h)) is amended by striking paragraph (3) and insert-
ing the following: 
‘‘(3) REVIEW AND APPROVAL BY THE BOARD.— 
‘‘(A) IN GENERAL.—A policy, plan of in-
surance, or other material submitted to the 
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Board under this subsection shall be reviewed 
by the Board and shall be approved by the 
Board for reinsurance and for sale by approved 
insurance providers to producers at actuarially 
appropriate rates and under appropriate terms 
and conditions if the Board, at the sole discre-
tion of the Board, determines that— 
‘‘(i) the interests of producers are 
adequately protected; 
‘‘(ii) the rates of premium and price 
election methodology are actuarially appro-
priate; 
‘‘(iii) the terms and conditions for the 
proposed policy or plan of insurance are 
appropriate and would not unfairly dis-
criminate among producers; 
‘‘(iv) the proposed policy or plan of in-
surance will, at the sole discretion of the 
Board— 
‘‘(I) likely result in a viable and 
marketable policy that can reasonably 
attain levels of participation similar to 
other like policies or plans of insur-
ance; 
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‘‘(II) provide crop insurance cov-
erage in a significantly improved form 
or in a manner that addresses a rec-
ognized flaw or problem in an existing 
policy; or 
‘‘(III) provide a new kind of cov-
erage for a commodity that previously 
had no available crop insurance, or 
has demonstrated a low level of par-
ticipation under existing coverage; 
‘‘(v) the proposed policy or plan of in-
surance will, at the sole discretion of the 
Board, not have a significant adverse im-
pact on the crop insurance delivery system; 
and 
‘‘(vi) the proposed policy or plan of in-
surance meets such other requirements as 
are determined appropriate by the Board. 
‘‘(B) PRIORITIES.— 
‘‘(i) ESTABLISHMENT.—The Board, 
at the sole discretion of the Board, may— 
‘‘(I) annually establish priorities 
under this subsection that specify 
types of submissions needed to fulfill 
the portfolio of policies or plans of in-
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