Sec. 10010. Submission and review of policies
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Section 508(h) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(h) ) is amended— in paragraph (1)— by redesignating subparagraphs
(A)and
(B)as clauses
(i)and (ii), respectively, and indenting appropriately; by striking
(1)and inserting the following: In general .—In addition In addition ; and by adding at the end the following new subparagraph: The Corporation shall review any policy developed under section 522(c) or any pilot program developed under section 523 and submit the policy or program to the Board under this subsection if the Corporation, at the sole discretion of the Corporation, finds that the policy or program— will likely result in a viable and marketable policy consistent with this subsection; would provide crop insurance coverage in a significantly improved form; and adequately protects the interests of producers. ; and in paragraph (3)— by striking A policy and inserting the following: A policy ; and by adding at the end the following new subparagraph: In reviewing policies and other materials submitted to the Board under this subsection for approval, the Board— shall make the development and approval of a revenue policy for peanut producers a priority so that a revenue policy is available to peanut producers in time for the 2014 crop year; shall make the development and approval of a margin coverage policy for rice producers a priority so that a margin coverage policy is available to rice producers in time for the 2014 crop year; and may approve a submission that is made pursuant to this subsection that would, beginning with the 2014 crop year, allow producers that purchase policies in accordance with subsection (e)(5)(A) to separate enterprise units by risk rating for acreage of crops in counties. . Section 522(b)(2)(E) of the Federal Crop Insurance Act (7 U.S.C. 1522(b)(2)(E)) is amended by striking 50 percent and inserting 75 percent .
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