[Congressional Bills 118th Congress]
[From the U.S. Government Publishing Office]
[H.R. 8431 Introduced in House (IH)]

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118th CONGRESS
  2d Session
                                H. R. 8431

 To require the Secretary of Agriculture to provide regular updates to 
Livestock Indemnity Program payment rates to reflect market prices, and 
                          for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                              May 16, 2024

Mr. Feenstra (for himself and Ms. Craig) introduced the following bill; 
           which was referred to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
 To require the Secretary of Agriculture to provide regular updates to 
Livestock Indemnity Program payment rates to reflect market prices, 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 ``Livestock Indemnity Program 
Improvement Act of 2024''.

SEC. 2. LIVESTOCK INDEMNITY PAYMENTS.

    Section 1501(b)(2) of the Agricultural Act of 2014 (7 U.S.C. 
9081(b)(2)) is amended--
            (1) by redesignating subparagraphs (A) and (B) as clauses 
        (i) and (ii), respectively, and indenting appropriately;
            (2) in the matter preceding clause (i) (as so designated), 
        by striking ``Indemnity'' and inserting the following:
                    ``(A) In general.--Indemnity''; and
            (3) by adding at the end the following:
                    ``(B) Determination of market value.--The Secretary 
                shall determine the market value described in 
                subparagraph (A)--
                            ``(i) in coordination with the 
                        Administrator of the Agricultural Marketing 
                        Service;
                            ``(ii) using other appropriate resources, 
                        as determined by the Secretary; and
                            ``(iii) on a quarterly basis.''.
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