TEMP Act

Bill: 117-hr-7498
Sponsor: full_name: Rep. Steube, W. Gregory [R-FL-17]
Introduced: 2022-04-11
Policy area: Agriculture and Food
Latest action: action_date: 2022-05-05
text: Referred to the Subcommittee on General Farm Commodities and Risk Management.

Summaries:
action_date: 2022-04-11
action_desc: Introduced in House
text: <p><strong>Temperature Endorsement for Multi-Peril Policies or the</strong> <strong>TEMP Act </strong></p> <p>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.</p>

tv_txt: I 117th CONGRESS 2d Session H. R. 7498 IN THE HOUSE OF REPRESENTATIVES April 11, 2022 Mr. Steube (for himself and Mr. Soto ) introduced the following bill; which was referred to the Committee on Agriculture A BILL 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.

1. Short title This Act may be cited as the Temperature Endorsement for Multi-Peril Policies or the TEMP Act . 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. .