H.R.1995 - AFFIRM Act
To reform the Federal Crop Insurance Act and reduce Federal spending on crop insurance.
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Mr. KIND (for himself, Mr. PETRI, Mr. BLUMENAUER, Ms. DELAURO, Mr. WAXMAN, Mr. SENSENBRENNER, Mr. MCGOVERN, and Mr. COOPER) introduced the following bill; which was referred to the Committee on AgricultureCommentsClose CommentsPermalink
SECTION 1. SHORT TITLE.
SEC. 2. ADJUSTED GROSS INCOME AND PER PERSON LIMITATIONS ON SHARE OF INSURANCE PREMIUMS PAID BY CORPORATION.
‘(B) ADJUSTED GROSS INCOME LIMITATION- The Corporation shall not pay a part of the premium for additional coverage for any person or legal entity that has an average adjusted gross income (as defined in section 1001D of the Food Security Act of 1985 (
7 U.S.C. 1308-3a)) in excess of $250,000.CommentsClose CommentsPermalink
SEC. 3. CAP ON OVERALL RATE OF RETURN FOR CROP INSURANCE PROVIDERS.
SEC. 4. CAP ON REIMBURSEMENTS FOR ADMINISTRATIVE AND OPERATING EXPENSES OF CROP INSURANCE PROVIDERS.
‘(G) ADDITIONAL CAP ON REIMBURSEMENTS- Notwithstanding subparagraphs (A) through (F), total reimbursements for administrative and operating costs for the 2013 insurance year for all types of policies and plans of insurance shall not exceed $900,000,000. For each subsequent insurance year, the dollar amount in effect pursuant to the preceding sentence shall be increased by the same inflation factor as established for the administrative and operating costs cap in the 2011 Standard Reinsurance Agreement.’.CommentsClose CommentsPermalink
SEC. 5. BUDGET LIMITATIONS ON RENEGOTIATION OF STANDARD REINSURANCE AGREEMENT.
‘(F) REDUCTION IN CORPORATION OBLIGATIONS- The Board shall ensure that any Standard Reinsurance Agreement negotiated under subparagraph (A)(ii), when compared to the immediately preceding Standard Reinsurance Agreement, shall reduce, to the maximum extent practicable, the obligations of the Corporation under subsections (e)(2) or (k)(4) or section 523.’.CommentsClose CommentsPermalink
SEC. 6. CROP INSURANCE PREMIUM SUBSIDIES DISCLOSURE IN THE PUBLIC INTEREST.
‘(A) DISCLOSURE IN THE PUBLIC INTEREST- Notwithstanding paragraph (1) or any other provision of law, except as provided in subparagraph (B), the Secretary shall on an annual basis make available to the public--CommentsClose CommentsPermalink
‘(i)(I) the name of each individual or entity who obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance during the previous fiscal year;CommentsClose CommentsPermalink
‘(III) the amount of any Federal portion of indemnities paid in the event of a loss during that fiscal year for each policy associated with that individual or entity; andCommentsClose CommentsPermalink