3.0.0 2244 2023-01-11T13:32:35Z 2023-01-11T13:32:35Z Senate S 2015-11-05 114 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2015-11-05T17:59:29Z AFFIRM Act 114 3973 HR 2015-12-01 Referred to the Subcommittee on General Farm Commodities and Risk Management. Related bill CRS Harvest Price Subsidy Reduction Act 114 892 HR 2015-02-27 Referred to the Subcommittee on General Farm Commodities and Risk Management. Related bill CRS A bill to amend the Federal Crop Insurance Act to prohibit the paying of premium subsidies on policies based on the actual market price of an agricultural commodity at the time of harvest. 114 463 S 2015-02-11 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. Related bill CRS 2015-11-05 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2015-11-05 Introduced in Senate IntroReferral 10000 9 Library of Congress F000444 Sen. Flake, Jeff [R-AZ] JEFF FLAKE R AZ N S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH 2015-11-05 True Agriculture and Food Agricultural insurance Agricultural prices, subsidies, credit Agriculture and Food 00 2015-11-05 Introduced in Senate 2016-02-16T19:27:42Z Assisting Family Farmers through Insurance Reform Measures Act or the AFFIRM 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.

]]> AFFIRM Act Display Title AFFIRM Act Official Title as Introduced A bill to reform the Federal Crop Insurance Act and reduce Federal spending on crop insurance. Introduced in Senate IS Short Titles as Introduced AFFIRM Act Short Titles as Introduced Assisting Family Farmers through Insurance Reform Measures Act Introduced in Senate 2015-11-05T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-114s2244is/xml/BILLS-114s2244is.xml 2015-11-05 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.