H.R.1995 - AFFIRM Act113th Congress (2013-2014)
|Sponsor:||Rep. Kind, Ron [D-WI-3] (Introduced 05/15/2013)|
|Committees:||House - Agriculture|
|Latest Action:||05/22/2013 Referred to the Subcommittee on General Farm Commodities and Risk Management. (All Actions)|
This bill has the status Introduced
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Summary: H.R.1995 — 113th Congress (2013-2014)All Bill Information (Except Text)
Introduced in House (05/15/2013)
Assisting Family Farmers through Insurance Reform Measures Act or AFFIRM Act - Amends the Federal Crop Insurance Act to prohibit the Federal Crop Insurance Corporation (FCIC) from paying a part of the crop insurance premium for additional coverage for any person or legal entity that has an average adjusted gross income in excess of $250,000.
Caps: (1) the rate of return for all crop insurance providers combined for the 2013 and subsequent reinsurance years at 12% of retained premium, and (2) total reimbursements for administrative and operating costs for the 2013 insurance year for all types of policies and plans of insurance at $900 million.
Requires that any renegotiated Standard Reinsurance Agreement, when compared to the immediately preceding Agreement, shall reduce FCIC obligations.
Requires annual disclosure to the public of specified crop insurance premium subsidy information.