US SB2244 | 2015-2016 | 114th Congress

Status

Spectrum: Bipartisan Bill
Status: Introduced on November 5 2015 - 25% progression, died in committee
Action: 2015-11-05 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

Summary

AFFIRM Act Assisting Family Farmers through Insurance Reform Measures Act This bill amends the Federal Crop Insurance Act to require the Department of Agriculture (USDA) to reduce federal crop insurance payments and disclose details regarding subsidies. The bill prohibits premium subsidies: (1) for additional coverage for any person or legal entity that has an average adjusted gross income that exceeds $250,000, (2) that exceed $40,000 per year for any person or legal entity, or (3) for policies that are based on the actual market price of an agricultural commodity at the time of harvest. The bill establishes an annual cap on total reimbursements for administrative and operating costs of crop insurance providers that begins at $900 million for 2015 and is adjusted for inflation in each subsequent year. The overall rate of return for insurance providers is capped at 8.9%. The bill eliminates a requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between 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.) USDA must annually disclose to the public specified details regarding the recipients and amounts of federal crop insurance subsidies.

Tracking Information

Register now for our free OneVote public service or GAITS Pro trial account and you can begin tracking this and other legislation, all driven by the real-time data of the LegiScan API. Providing tools allowing you to research pending legislation, stay informed with email alerts, content feeds, and share dynamic reports. Use our new PolitiCorps to join with friends and collegaues to monitor & discuss bills through the process.

Monitor Legislation or view this same bill number from multiple sessions or take advantage of our national legislative search.

Title

AFFIRM Act Assisting Family Farmers through Insurance Reform Measures Act

Sponsors


History

DateChamberAction
2015-11-05SenateRead twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Same As/Similar To

HB3973 (Related) 2015-12-01 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
HB892 (Related) 2015-02-27 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
SB463 (Related) 2015-02-11 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Subjects


US Congress State Sources


Bill Comments

feedback