TEMP Act
Bill: H.R.7498 | Sponsor: Rep. Steube, W. Gregory (R-FL)
Policy area: Agriculture and Food

Summary:
Temperature Endorsement for Multi-Peril Policies or the TEMP Act
This bill directs the Federal Crop Insurance Corporation to conduct or enter into contracts to carry out research and development regarding a temperature-based index policy to insure crops on a nationally-available basis against losses due to a frost or cold weather event, including research to evaluate the effectiveness of risk management tools with respect to low frequency and catastrophic loss weather events.

To amend the Federal Crop Insurance Act to direct the Federal Crop 
 Insurance Corporation to conduct research and development on frost or 
            cold weather insurance, and for other purposes.

    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 ``Temperature Endorsement for Multi-
Peril Policies'' or the ``TEMP Act''.

SEC. 2. RESEARCH AND DEVELOPMENT ON FROST OR COLD WEATHER INSURANCE.

    Section 522(c) of the Federal Crop Insurance Act (7 U.S.C. 1522(c)) 
is amended by adding at the end the following:
            ``(20) Frost or cold weather insurance.--
                    ``(A) In general.--The Corporation shall carry out 
                research and development, or offer to enter into 1 or 
                more contracts with 1 or more qualified persons to 
                carry out research and development, regarding an index-
                based policy to insure crops (including tomatoes, 
                peppers, sugarcane, strawberries, melons, citrus, 
                peaches, blueberries, and any other crop) on a 
                nationally-available basis against losses due to a 
                frost or cold weather event.
                    ``(B) Research and development.--Research and 
                development under subparagraph (A) shall--
                            ``(i) evaluate the effectiveness of risk 
                        management tools, such as the use of an index, 
                        with respect to low frequency and catastrophic 
                        loss weather events; and
                            ``(ii) result in a policy that provides 
                        protection for at least 1 of the following:
                                    ``(I) Production loss.
                                    ``(II) Revenue loss.
                    ``(C) Report.--Not later than 1 year 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 
                describes--
                            ``(i) the results of the research and 
                        development carried out under this paragraph; 
                        and
                            ``(ii) any recommendations with respect to 
                        those results.''.
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