Title: Dairy Premium Refund Act of 2018
Policy area: Agriculture and Food

Summary:
Dairy Premium Refund Act of 2018
This bill amends the Agricultural Act of 2014, with respect to the Dairy Margin Protection Program, to require the Department of Agriculture (USDA) to repay certain premiums to participating dairy operations.
(The Dairy Margin Protection Program is a voluntary program that makes payments to participating dairy operations when a formula-based national margin [the difference between the national all milk price and the national average feed cost] falls below a producer-selected insured margin.)
For 2015 and each succeeding year, USDA must repay to participating dairy operations an amount equal to the difference between:
A repayment made to a participating dairy operation must be reduced by the amount of payments made to the operation under the program during the year.

[Congressional Bills 115th Congress]
[From the U.S. Government Publishing Office]
[S. 2426 Introduced in Senate (IS)]

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115th CONGRESS
  2d Session
                                S. 2426

To amend the Agricultural Act of 2014 to return premiums paid under the 
 margin protection program for dairy producers to participating dairy 
                              operations.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           February 14, 2018

Mrs. Gillibrand introduced the following bill; which was read twice and 
   referred to the Committee on Agriculture, Nutrition, and Forestry

_______________________________________________________________________

                                 A BILL


 
To amend the Agricultural Act of 2014 to return premiums paid under the 
 margin protection program for dairy producers to participating dairy 
                              operations.

    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 ``Dairy Premium Refund Act of 2018''.

SEC. 2. REPAYMENT OF PREMIUMS TO PARTICIPATING DAIRY OPERATIONS.

    Section 1407 of the Agricultural Act of 2014 (7 U.S.C. 9057) is 
amended by adding at the end the following:
    ``(f) Repayment of Premiums.--
            ``(1) In general.--For the 2015 calendar year and each 
        calendar year thereafter, the Secretary shall repay to 
        participating dairy operations an amount equal to the 
        difference between--
                    ``(A) the total amount of premiums paid by 
                participating dairy operations under this section for 
                the applicable calendar year; and
                    ``(B) the sum obtained by adding--
                            ``(i) the total amount of payments made to 
                        participating dairy operations under section 
                        1406 for that calendar year; and
                            ``(ii) the costs of carrying out the margin 
                        protection program for that calendar year.
            ``(2) Applicability.--Paragraph (1) shall only apply to a 
        calendar year for which the amount described in subparagraph 
        (A) of that paragraph is greater than the amount described in 
        subparagraph (B) of that paragraph.
            ``(3) Allocation of payments.--A repayment to a 
        participating dairy operation under paragraph (1) shall be 
        based on the proportion that--
                    ``(A) the amount of premiums paid by the 
                participating dairy operation under this section for 
                the applicable calendar year; bears to
                    ``(B) the total amount of premiums paid by 
                participating dairy operations under this section for 
                that calendar year.
            ``(4) Reduction for payments received.--
                    ``(A) In general.--A repayment to a participating 
                dairy operation under paragraph (1) for a calendar year 
                shall be an amount equal to the difference between--
                            ``(i) the amount of the repayment to the 
                        participating dairy operation determined under 
                        paragraph (3) for the calendar year; and
                            ``(ii) the amount of payments made to the 
                        participating dairy operation under section 
                        1406 for the calendar year.
                    ``(B) Applicability.--No payment shall be required 
                under this subsection in the case of an amount 
                determined under subparagraph (A) that is less than or 
                equal to zero.''.
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