[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8350 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8350

To amend the Federal Crop Insurance Act to provide premium support for 
          certain plans of insurance, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 10, 2024

  Mr. Finstad (for himself, Mrs. Fischbach, Mr. Mann, and Mrs. Miller-
    Meeks) introduced the following bill; which was referred to the 
                        Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
To amend the Federal Crop Insurance Act to provide premium support for 
          certain plans of insurance, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

    This Act may be cited as the ``Federal Agriculture Risk Management 
Enhancement and Resilience Act'' or the ``FARMER Act''.

SEC. 2. PREMIUM SUPPORT FOR CERTAIN PLANS OF INSURANCE.

    Section 508(e) of the Federal Crop Insurance Act of 1938 (7 U.S.C. 
1508(e)) is amended--
            (1) by redesignating paragraph (8) as paragraph (9);
            (2) in paragraph (9) (as so redesignated) by striking ``and 
        (7)'' and inserting ``(7), and (8)''; and
            (3) by inserting after paragraph (7) the following:
            ``(8) Premium support for certain plans of insurance.--
        Notwithstanding subparagraphs (F) and (G) of paragraph (2), in 
        the case of an individual farm-based revenue protection or 
        yield protection plan of insurance, when a producer elects such 
        a plan of insurance based upon enterprise units or whole farm 
        units, the Corporation shall pay a part of the premium as 
        provided under those subparagraphs except that the applicable 
        factor shall be--
                    ``(A) 77 percent in the case of the coverage level 
                described in paragraph (2)(F); and
                    ``(B) 68 percent in the case of the coverage level 
                described in paragraph (2)(G).''.

SEC. 3. COVERAGE LEVEL AND PREMIUM SUBSIDY UNDER SUPPLEMENTAL COVERAGE 
              OPTION.

    (a) Coverage Level.--Section 508(c)(4)(C) of the Federal Crop 
Insurance Act (7 U.S.C. 1508(c)(4)(C)) is amended--
            (1) in clause (ii), by striking ``14'' and inserting 
        ``10''; and
            (2) in clause (iii)(I) (iii)(I)), by striking ``86'' and 
        inserting ``90''.
    (b) Premium Subsidy.--Section 508(e)(2)(H)(i) of the Federal Crop 
Insurance Act (7 U.S.C. 1508(e)(2)(H)(i)) is amended by striking ``65'' 
and inserting ``80''.

SEC. 4. STUDY.

    Section 522(c) of the Federal Crop Insurance Act (7 U.S.C. 1522(c)) 
is amended by adding at the end the following:
            ``(20) Study on supplemental coverage option.--
                    ``(A) In general.--The Corporation shall carry out 
                a study, or offer to enter into 1 or more contracts 
                with 1 or more qualified persons to carry out a study, 
                to determine the feasibility of modifying the 
                supplemental coverage option described in section 
                508(c)(4)(C) to provide coverage for counties larger 
                than 1,400 square miles--
                            ``(i) at a level smaller than county-wide; 
                        and
                            ``(ii) at a level greater than individual 
                        coverage.
                    ``(B) Report.--Not later than 1 year after the date 
                of enactment of this paragraph, the Corporation shall 
                submit to the Committee on Agriculture, Nutrition, and 
                Forestry of the Senate and the Committee on Agriculture 
                of the House of Representatives a report that 
                describes--
                            ``(i) the results of the study carried out 
                        under subparagraph (A); and
                            ``(ii) any recommendations with respect to 
                        those results.''.
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