Crop Insurance for Future Farmers Act

Bill: 118-hr-3904
Sponsor: full_name: Rep. Feenstra, Randy [R-IA-4]
Introduced: 2023-06-07
Policy area: Agriculture and Food
Subjects: Agricultural insurance

Agricultural practices and innovations

Agricultural prices, subsidies, credit
Latest action: action_date: 2023-07-28
text: Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.

Summaries:
action_date: 2023-06-07
action_desc: Introduced in House
text: <p><strong>Crop Insurance for Future Farmers Act</strong></p><p>This bill amends the federal crop insurance program (FCIP) to increase the premium assistance rate for beginning and veteran farmers or ranchers.</p><p>Specifically, the bill amends the amount of percentage points that are added to the premium assistance rate for&nbsp;beginning and veteran farmers or ranchers  for an applicable insurance policy or plan (currently 10 percentage points) to provide</p><ul><li>15 percentage points in each of the 1st and 2nd reinsurance years,</li><li>13 percentage points in the 3rd year,</li><li>11 percentage points in the 4th year, and</li><li>10 percentage points in each of the 5th through the 10th reinsurance years.</li></ul><p>The bill also amends the FCIP definition of <em>beginning farmer or rancher </em>to include a farmer or rancher who has not actively operated and managed a farm or ranch for more than 10 crop years (currently more than 5 crop years).&nbsp;</p><!--tinycomments|2.1|data:application/json;base64,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-->

tv_txt: I 118th CONGRESS 1st Session H. R. 3904 IN THE HOUSE OF REPRESENTATIVES June 7, 2023 Mr. Feenstra (for himself and Ms. Craig ) introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers, and for other purposes.

1. Short title This Act may be cited as the Crop Insurance for Future Farmers Act . 2. Crop insurance support for beginning farmers and ranchers (a) Definition of beginning farmer or rancher Section 502(b)(3) of the Agricultural Adjustment Act of 1938 ( 7 U.S.C. 1502(b)(3) ) is amended by striking 5 crop years and inserting 10 crop years . (b) Increase in assistance Section 508(e)(8) of the Agricultural Adjustment Act of 1938 ( 7 U.S.C. 1508(e)(8) ) is amended— (1) by striking Notwithstanding and inserting the following: (A) In general Notwithstanding ; (2) by striking is 10 percentage points greater than and inserting is the amount of percentage points specified in subparagraph (B) greater than ; and (3) by adding at the end the following: (B) Percentage points adjustments For purposes of subparagraph (A), the percentage points specified in this subparagraph are as follows: (i) For each of the first and second reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 15 percentage points. (ii) For the third reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 13 percentage points. (iii) For the fourth reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 11 percentage points. (iv) For each of the fifth through tenth reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 10 percentage points. .