Sec. 1117. Agriculture risk coverage
691 words·~3 min read·
/bill/115/hr/2/pcs/section-1117A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
If all of the producers on a farm make the election under section 1115(a) to obtain agriculture risk coverage, the Secretary shall make agriculture risk coverage payments to producers on the farm if the Secretary determines that, for any of the 2019 through 2023 crop years— the actual crop revenue determined under subsection
(b)for the crop year; is less than the agriculture risk coverage guarantee determined under subsection
(c)for the crop year. The amount of the actual crop revenue for a county for a crop year of a covered commodity shall be equal to the product obtained by multiplying— the actual average county yield per planted acre for the covered commodity, as determined by the Secretary; and the higher of— the marketing year average price; or the national average loan rate for a marketing assistance loan for the covered commodity in effect for such crop year under subtitle B. The agriculture risk coverage guarantee for a crop year for a covered commodity shall equal 86 percent of the benchmark revenue. The benchmark revenue shall be equal to the product obtained by multiplying— subject to paragraph (3), the average historical county yield as determined by the Secretary for the most recent 5 crop years, excluding each of the crop years with the highest and lowest yields; and subject to paragraph (4), the marketing year average price for the most recent 5 crop years, excluding each of the crop years with the highest and lowest prices. If the yield per planted acre for the covered commodity or historical county yield per planted acre for the covered commodity for any of the 5 most recent crop years, as determined by the Secretary, is less than 70 percent of the transitional yield, as determined by the Secretary, the amounts used for any of those years in paragraph (2)(A) shall be 70 percent of the transitional yield. If the marketing year average price for any of the 5 most recent crop years is lower than the reference price for the covered commodity, the Secretary shall use the reference price for any of those years for the amounts in paragraph (2)(B). The payment rate for a covered commodity in a county shall be equal to the lesser of— the amount that— the agriculture risk coverage guarantee for the crop year applicable under subsection (c); exceeds the actual crop revenue for the crop year applicable under subsection (b); or 10 percent of the benchmark revenue for the crop year applicable under subsection (c). If agriculture risk coverage payments are required to be paid for any of the 2019 through 2023 crop years, the amount of the agriculture risk coverage payment for the crop year shall be determined by multiplying— the payment rate for the covered commodity determined under subsection (d); and the payment acres for the covered commodity determined under section 1114. If the Secretary determines that agriculture risk coverage payments are required to be provided for the covered commodity, payments shall be made beginning October 1, or as soon as practicable thereafter, after the end of the applicable marketing year for the covered commodity. In providing agriculture risk coverage, the Secretary shall— to the maximum extent practicable, use all available information and analysis, including data mining, to check for anomalies in the determination of agriculture risk coverage payments; calculate a separate actual crop revenue and agriculture risk coverage guarantee for irrigated and nonirrigated covered commodities; assign an actual or benchmark county yield for each planted acre for the crop year for the covered commodity— for a county for which county data collected by the Risk Management Agency is sufficient for the Secretary to offer a county-wide insurance product using the actual average county yield determined by the Risk Management Agency; or for a county not described in subparagraph
(A)using— other sources of yield information, as determined by the Secretary; or the yield history of representative farms in the State, region, or crop reporting district, as determined by the Secretary; and make payments, as applicable, to producers using the payment rate of the county of the physical location of the base acres of a farm.