[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8055 Introduced in House (IH)]
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118th CONGRESS
2d Session
H. R. 8055
To amend the Federal Crop Insurance Act to establish a minimum rate of
reimbursement for administrative and operating expenses with respect to
crop insurance contracts covering specialty crops and to restore the
annual inflation adjustment with respect to the general reimbursement
rate for administrative and operating expenses.
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IN THE HOUSE OF REPRESENTATIVES
April 17, 2024
Mr. Austin Scott of Georgia (for himself, Mr. Mann, and Mr. Panetta)
introduced the following bill; which was referred to the Committee on
Agriculture
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A BILL
To amend the Federal Crop Insurance Act to establish a minimum rate of
reimbursement for administrative and operating expenses with respect to
crop insurance contracts covering specialty crops and to restore the
annual inflation adjustment with respect to the general reimbursement
rate for administrative and operating expenses.
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Ensuring Access to Risk Management
Act of 2024''.
SEC. 2. REIMBURSEMENT FOR ADMINISTRATIVE AND OPERATING EXPENSES WITH
RESPECT TO SPECIALTY CROPS CONTRACTS.
Section 508(k) of the Federal Crop Insurance Act (7 U.S.C. 1508(k))
is amended by adding at the end of the following:
``(10) Specialty crops.--
``(A) Minimum reimbursement.--Beginning with the
2022 reinsurance year and for each reinsurance year
thereafter, the rate of reimbursement to approved
insurance providers and agents for administrative and
operating expenses with respect to crop insurance
contracts covering agricultural commodities described
in section 101 of title I of the Specialty Crops
Competitiveness Act of 2004 (7 U.S.C. 1621 note) shall
be equal to or greater than the percent that is the
greater of the following:
``(i) 17 percent of the premium used to
define loss ratio.
``(ii) The percent of the premium used to
define loss ratio that is otherwise applicable
for the reinsurance year under the terms of the
Standard Reinsurance Agreement in effect for
the reinsurance year.
``(B) Other contracts.--In carrying out
subparagraph (A), the Corporation shall not reduce,
with respect to any reinsurance year, the amount or the
rate of reimbursement to approved insurance providers
and agents under the Standard Reinsurance Agreement
described in clause (ii) of such subparagraph for
administrative and operating expenses with respect to
contracts covering agricultural commodities that are
not subject to such subparagraph as compared to what
the amount or the rate of such reimbursement would be
had this paragraph not been enacted.
``(C) Administration.--The requirements of this
paragraph and the adjustments made pursuant to this
paragraph shall not be considered a renegotiation under
paragraph (8)(A).
``(11) Adjustment.--
``(A) In general.--Beginning with the 2024
reinsurance year and for each reinsurance year
thereafter, the Corporation shall increase the total
administrative and operating expense reimbursements
otherwise required under the Standard Reinsurance
Agreement described in paragraph (10)(A)(ii) in order
to account for inflation in a manner that is consistent
with the increases provided with respect to the 2011
through 2015 reinsurance years under the enclosure,
included in the Risk Management Agency's Bulletin, MGR-
10-007, dated June 30, 2010.
``(B) Administration.--The increase described in
subparagraph (A) shall--
``(i) apply with respect to all contracts
covering agricultural commodities that were
subject to an increase during the period of the
2011 through 2015 reinsurance years under the
enclosure described in such subparagraph;
``(ii) not be considered a renegotiation
under paragraph (8); and
``(iii) from one reinsurance year to an
immediately following reinsurance year, not
exceed the applicable annual percentage
increase in the Consumer Price Index for All
Urban Consumers.''.
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