H.R.1995 - AFFIRM Act

To reform the Federal Crop Insurance Act and reduce Federal spending on crop insurance. view all titles (3)

All Bill Titles

  • Official: To reform the Federal Crop Insurance Act and reduce Federal spending on crop insurance. as introduced.
  • Short: AFFIRM Act as introduced.
  • Short: Assisting Family Farmers through Insurance Reform Measures Act as introduced.

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Introduced
 
House
Passes
 
Senate
Passes
 
President
Signs
 

 
05/15/13
 
 
 
 
 
 
 

Official Summary

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

Official Summary

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.

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