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A bill to amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.

USA115th CongressS-1773| Senate 
| Updated: 9/7/2017
Jeff Flake

Jeff Flake

Republican Senator

Arizona

Cosponsors (1)
Jeanne Shaheen (Democratic)

Agriculture, Nutrition, and Forestry Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
This bill amends the Federal Crop Insurance Act to modify the requirements for the federal crop insurance program. The bill: (1) limits the average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year to 9.6% of retained premiums, and (2) eliminates the requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between the Department of Agriculture [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.)
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Timeline
Sep 7, 2017
Introduced in Senate
Sep 7, 2017
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Sep 15, 2017

Latest Companion Bill Action

HR 115-3698
Referred to the Subcommittee on General Farm Commodities and Risk Management.
  • September 7, 2017
    Introduced in Senate


  • September 7, 2017
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.


  • September 15, 2017

    Latest Companion Bill Action

    HR 115-3698
    Referred to the Subcommittee on General Farm Commodities and Risk Management.

Agriculture and Food

Related Bills

  • HR 115-3698: To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.
Agricultural insuranceInsurance industry and regulation

A bill to amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.

USA115th CongressS-1773| Senate 
| Updated: 9/7/2017
This bill amends the Federal Crop Insurance Act to modify the requirements for the federal crop insurance program. The bill: (1) limits the average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year to 9.6% of retained premiums, and (2) eliminates the requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between the Department of Agriculture [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.)
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Sep 7, 2017
Introduced in Senate
Sep 7, 2017
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Sep 15, 2017

Latest Companion Bill Action

HR 115-3698
Referred to the Subcommittee on General Farm Commodities and Risk Management.
  • September 7, 2017
    Introduced in Senate


  • September 7, 2017
    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.


  • September 15, 2017

    Latest Companion Bill Action

    HR 115-3698
    Referred to the Subcommittee on General Farm Commodities and Risk Management.
Jeff Flake

Jeff Flake

Republican Senator

Arizona

Cosponsors (1)
Jeanne Shaheen (Democratic)

Agriculture, Nutrition, and Forestry Committee

Agriculture and Food

Related Bills

  • HR 115-3698: To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Agricultural insuranceInsurance industry and regulation