In this task, you are given text for US Congressional and California state bills, your task is to generate a summary for this bill.
Q: SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.--This Act may be cited as the ''Assisting Family
Farmers through Insurance Reform Measures Act'' or the ''AFFIRM Act''.
(b) Table of Contents.--The table of contents for this Act is as
follows:

Sec. 1. Short title; table of contents.
Sec. 2. Adjusted gross income and per person limitations on share of
insurance premiums paid by Corporation.
Sec. 3. Cap on reimbursements for administrative and operating expenses
of crop insurance providers.
Sec. 4. Renegotiation of Standard Reinsurance Agreement.
Sec. 5. Cap on overall rate of return for crop insurance providers.
Sec. 6. Prohibition on premium subsidy for harvest price policies.
Sec. 7. Crop insurance premium subsidies disclosure in the public
interest.

SEC. 2. ADJUSTED GROSS INCOME AND PER PERSON LIMITATIONS ON SHARE OF
INSURANCE PREMIUMS PAID BY CORPORATION.

Section 508(e)(1) of the Federal Crop Insurance Act (7 U.S.C.
1508(e)(1)) is amended--
(1) by striking ''For the purpose'' and inserting the
following:
''(A) Payment authority.--For the purpose''; and
(2) by adding at the end the following:
''(B) Adjusted gross income limitation.--The
Corporation shall not pay a part of the premium for
additional coverage for any person or legal entity that
has an average adjusted gross income (as defined in
section 1001D(a) of the Food Security Act of 1985 (7
U.S.C. 1308-3a(a))) in excess of $250,000.
''(C) Per person limitation.--The Corporation shall
not pay more than $40,000 per reinsurance year to any
person or legal entity for premiums under this
section.''.

SEC. 3. CAP ON REIMBURSEMENTS FOR ADMINISTRATIVE AND OPERATING EXPENSES
OF CROP INSURANCE PROVIDERS.

Section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C.
1508(k)(4)) is amended by adding at the end the following:
''(G) Additional cap on reimbursements.--
''(i) In general.--Notwithstanding
subparagraphs (A) through (F), total
reimbursements for administrative and operating
costs for the 2015 reinsurance year for all
types of policies and plans of insurance shall
not exceed $900,000,000.
''(ii) Adjustment.--For the 2016 and each
subsequent reinsurance year, the dollar amount
in effect pursuant to clause (i) shall be
increased by the same inflation factor as
established for the administrative and
operating costs cap in the 2011 Standard
Reinsurance Agreement.''.

SEC. 4. RENEGOTIATION OF STANDARD REINSURANCE AGREEMENT.

Section 508(k)(8) of the Federal Crop Insurance Act (7 U.S.C.
1508(k)(8)) is amended by striking subparagraph (F).

SEC. 5. CAP ON OVERALL RATE OF RETURN FOR CROP INSURANCE PROVIDERS.

Section 508(k)(3) of the Federal Crop Insurance Act (7 U.S.C.
1508(k)(3)) is amended--
(1) by striking ''(3) Share of risk.--The'' and inserting
the following:
''(3) Risk.--
''(A) Share of risk.--The''; and
(2) by adding at the end the following:
''(B) Cap on overall rate of return.--The target
rate of return for all the companies combined for the
2015 reinsurance year and each subsequent reinsurance
year shall be 8.9 percent of retained premium.''.

SEC. 6. PROHIBITION ON PREMIUM SUBSIDY FOR HARVEST PRICE POLICIES.

Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e))
is amended by adding at the end the following:
''(9) Prohibition on premium subsidy for harvest price
policies.--Notwithstanding any other provision of law and
beginning with the 2016 reinsurance year, the Corporation may
not pay any amount of premium subsidy in the case of a policy
or plan of insurance that is based on the actual market price
of an agricultural commodity at the time of harvest.''.

SEC. 7. CROP INSURANCE PREMIUM SUBSIDIES DISCLOSURE IN THE PUBLIC
INTEREST.

Section 502(c)(2) of the Federal Crop Insurance Act (7 U.S.C.
1502(c)(2)) is amended--
(1) by redesignating subparagraphs (A) and (B) as
subparagraphs (C) and (D) respectively; and
(2) by inserting before subparagraph (C) (as so
redesignated) the following:
''(A) Disclosure in the public interest.--
Notwithstanding paragraph (1) or any other provision of
law, except as provided in subparagraph (B), the
Secretary shall on an annual basis make available to
the public--
''(i)(I) the name of each individual or
entity who obtained a federally subsidized crop
insurance, livestock, or forage policy or plan
of insurance during the previous fiscal year;
''(II) the amount of premium subsidy
received by the individual or entity from the
Corporation; and
''(III) the amount of any Federal portion
of indemnities paid in the event of a loss
during that fiscal year for each policy
associated with that individual or entity; and
''(ii) for each private insurance provider,
by name--
''(I) the underwriting gains earned
through participation in the federally
subsidized crop insurance program; and
''(II) the amount paid under this
subtitle for--
''(aa) administrative and
operating expenses;
''(bb) any Federal portion
of indemnities and reinsurance;
and
''(cc) any other purpose.
''(B) Limitation.--The Secretary shall not disclose
information pertaining to individuals and entities
covered by a catastrophic risk protection plan offered
under section 508(b).''.
A:
Assisting Family Farmers through Insurance Reform Measures Act or the AFFIRM Act This bill amends the Federal Crop Insurance Act to require the Department of Agriculture (USDA) to reduce federal crop insurance payments and disclose details regarding subsidies. The bill prohibits premium subsidies: (1) for additional coverage for any person or legal entity that has an average adjusted gross income that exceeds $250,000, (2) that exceed $40,000 per year for any person or legal entity, or (3) for policies that are based on the actual market price of an agricultural commodity at the time of harvest. The bill establishes an annual cap on total reimbursements for administrative and operating costs of crop insurance providers that begins at $900 million for 2015 and is adjusted for inflation in each subsequent year. The overall rate of return for insurance providers is capped at 8.9%. The bill eliminates a requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between USDA and the private companies that administer the federal crop insurance program that specifies details such as administrative and operating expense reimbursements and risk sharing. Eliminating the budget neutrality requirement permits USDA to use the renegotiation of the SRA to achieve savings.) USDA must annually disclose to the public specified details regarding the recipients and amounts of federal crop insurance subsidies.