Livestock Indemnity Program Improvement Act of 2024

Bill: 118-s-4019
Sponsor: full_name: Sen. Rounds, Mike [R-SD]
Introduced: 2024-03-21
Policy area: Agriculture and Food
Latest action: action_date: 2024-03-21
text: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summaries:

tv_txt: II 118th CONGRESS 2d Session S. 4019 IN THE SENATE OF THE UNITED STATES March 21, 2024 Mr. Rounds (for himself and Ms. Klobuchar ) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To require the Secretary of Agriculture to provide regular updates to Livestock Indemnity Program payment rates to reflect market prices, and for other purposes.

1. Short title This Act may be cited as the Livestock Indemnity Program Improvement Act of 2024 . 2. Livestock indemnity payments Section 1501(b)(2) of the Agricultural Act of 2014 ( 7 U.S.C. 9081(b)(2) ) is amended— (1) by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and indenting appropriately; (2) in the matter preceding clause (i) (as so designated), by striking Indemnity and inserting the following: (A) In general Indemnity ; and (3) by adding at the end the following: (B) Determination of market value The Secretary shall determine the market value described in subparagraph (A)— (i) in coordination with the Administrator of the Agricultural Marketing Service; (ii) using other appropriate resources, as determined by the Secretary; and (iii) on a quarterly basis. .