Quality Loss Adjustment Improvement for Farmers Act

This bill amends the Federal Crop Insurance Act to improve how quality losses are adjusted for farmers. It mandates that the Federal Crop Insurance Corporation conduct a periodic review of its quality loss adjustment procedures every five years, starting in 2025, with each review completed within one year. These reviews must include engagement from diverse industry stakeholders representing various agricultural commodities. Upon completion, a detailed report outlining findings, procedural changes, and stakeholder input must be submitted to the congressional agriculture committees. Furthermore, the bill introduces a new provision for regional discount factors for soybeans . In the event of a disaster declaration or a salvage market for soybeans, the Corporation is required to establish State or regional discount factors. These factors will reflect the average quality discounts applied to local or regional soybean market prices and must be included in the periodic reviews and reports.