Crop Insurance for Future Farmers Act

Bill: 119-s-1073
Sponsor: full_name: Sen. Klobuchar, Amy [D-MN]
Introduced: 2025-03-14
Policy area: Agriculture and Food
Latest action: action_date: 2025-03-14
text: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Summaries:
action_date: 2025-03-14
action_desc: Introduced in Senate
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. (FCIP offers subsidized crop insurance policies that producers can purchase to cover a wide variety of crops and livestock.)</p><p>Specifically, the bill amends the amount of percentage points that are added to the premium assistance rate for&nbsp;beginning farmers or ranchers 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>Under the bill, farmers and ranchers, and veteran farmers and ranchers, are eligible to qualify for the program for 10 years, an increase from 5 years under current law. Specifically, to be considered a beginning farmer or rancher, a person must not have actively operated and managed a farm or ranch for more than 10 crop years. To be considered a veteran farmer or rancher, a veteran must have (1) not operated a farm or ranch for more than 10 crop years, or (2) first obtained veteran status in the past 10 years.</p>

tv_txt: II 119th CONGRESS 1st Session S. 1073 IN THE SENATE OF THE UNITED STATES March 14, 2025 Ms. Klobuchar (for herself and Mr. Thune ) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry A BILL To amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers and veteran 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 and veteran farmers and ranchers (a) Definition of beginning farmer or rancher (1) In general Section 502(b)(3) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b)(3) ) is amended by striking 5 and inserting 10 . (2) Conforming amendment Section 522(c)(7) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(c)(7) ) is amended by striking subparagraph (F). (b) Definition of veteran farmer or rancher Section 502(b)(14)(B) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b)(14)(B) ) is amended— (1) in clause (ii), by striking 5 years and inserting 10 crop years ; and (2) in clause (iii), by striking 5-year and inserting 10-year . (c) Increase in assistance Section 508(e)(8) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(e)(8) ) is amended— (1) by striking Notwithstanding and inserting the following: (A) In general Notwithstanding ; (2) in subparagraph (A) (as so designated), by striking is 10 percentage points greater than and inserting is the number 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 or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 15 percentage points. (ii) For the third reinsurance year that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 13 percentage points. (iii) For the fourth reinsurance year that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, 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 or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 10 percentage points. .