This bill amends the Specialty Crops Competitiveness Act of 2004 to establish a new pilot program. Beginning in marketing year 2025, this program will provide annual crop loss payments to producers of certain seasonal and perishable crops for a period of five years. The program is designed to assist producers when the effective price of their crop falls below a predetermined reference price , specifically when this price reduction is determined to be caused by imports . Initially, the program targets producers of asparagus, bell peppers, blueberries, cucumbers, and squash that are marketed raw and within four weeks of harvest. To be eligible for payments, producers must have an adjusted gross income of less than $5,000,000 for the three preceding tax years and derive at least 75 percent of their income from farming, ranching, or forestry. The payment amount is calculated based on the difference between the reference price and the effective price, multiplied by the producer's average production over a five-year period, excluding the highest and lowest production years. The bill authorizes $200,000,000 for each fiscal year to fund this pilot program until its termination. This initiative aims to support domestic producers of vulnerable crops facing economic challenges from import competition.
This bill amends the Specialty Crops Competitiveness Act of 2004 to establish a new pilot program. Beginning in marketing year 2025, this program will provide annual crop loss payments to producers of certain seasonal and perishable crops for a period of five years. The program is designed to assist producers when the effective price of their crop falls below a predetermined reference price , specifically when this price reduction is determined to be caused by imports . Initially, the program targets producers of asparagus, bell peppers, blueberries, cucumbers, and squash that are marketed raw and within four weeks of harvest. To be eligible for payments, producers must have an adjusted gross income of less than $5,000,000 for the three preceding tax years and derive at least 75 percent of their income from farming, ranching, or forestry. The payment amount is calculated based on the difference between the reference price and the effective price, multiplied by the producer's average production over a five-year period, excluding the highest and lowest production years. The bill authorizes $200,000,000 for each fiscal year to fund this pilot program until its termination. This initiative aims to support domestic producers of vulnerable crops facing economic challenges from import competition.