3.0.0 3292 2022-09-03T17:25:25Z 2022-09-03T17:25:25Z Senate S 2020-02-13 116 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2020-02-13T17:00:06Z 2020-02-13 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2020-02-13 Introduced in Senate IntroReferral 10000 9 Library of Congress S001181 Sen. Shaheen, Jeanne [D-NH] Jeanne Shaheen D NH N T000461 Sen. Toomey, Patrick [R-PA] Patrick Toomey R PA J. 2020-02-13 True Agriculture and Food Agricultural insurance Agricultural prices, subsidies, credit Agriculture and Food 00 2020-02-13 Introduced in Senate 2022-03-22T15:42:05Z Assisting Family Farmers through Insurance Reform Measures Act of 2020 or the AFFIRM Act of 2020

This bill requires the Department of Agriculture (USDA) to reduce federal crop insurance payments and to disclose details regarding subsidies.

Specifically, the bill

  • requires USDA to annually disclose to the public specified details regarding the recipients and amounts of federal crop insurance subsidies;
  • prohibits certain premium subsidies, including for additional coverage for any person or legal entity that has an average adjusted gross income that is greater than $250,000, and for policies that are based on the actual market price of an agricultural commodity at the time of harvest;
  • establishes an annual cap on total reimbursements for administrative and operating costs of crop insurance providers that begins at $900 million for 2020 and is adjusted for inflation in each subsequent year; and
  • eliminates a requirement that any renegotiated Standard Reinsurance 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.)
]]> AFFIRM Act of 2020 Display Title AFFIRM Act of 2020 Short Title(s) as Introduced AFFIRM Act of 2020 Introduced in Senate IS Short Title(s) as Introduced Assisting Family Farmers through Insurance Reform Measures Act of 2020 Introduced in Senate IS Official Title as Introduced A bill to amend the Federal Crop Insurance Act to reduce Federal spending on crop insurance, and for other purposes. Introduced in Senate IS Introduced in Senate 2020-02-13T05:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116s3292is/xml/BILLS-116s3292is.xml 2020-02-13 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.