Sec. 10007. Maintenance of policies
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Section 522(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(b) ) is amended— in paragraph (1), by amending subparagraph
(B)to read as follows: An applicant who submits a policy under section 508(h) shall be eligible for the reimbursement of reasonable and actual research and development costs directly related to the policy if the policy is approved by the Board for sale to producers. For the purpose of reimbursing research and development and maintenance costs under this section, costs of the applicant shall be considered reasonable and actual costs if the costs are based on— wage rates equal to 2 times the hourly wage rate plus benefits, as provided by the Bureau of Labor Statistics for the year in which such costs are incurred, calculated using the formula applied to an applicant by the Corporation in reviewing proposed project budgets under this section on October 1, 2016; or actual documented costs incurred by the applicant. ; and in paragraph (4)— in subparagraph (C), by striking approved insurance provider and inserting applicant ; and in subparagraph (D)— in clause (i), by striking determined by the approved insurance provider and inserting determined by the applicant ; by striking clause
(ii)and inserting the following new clauses: Subject to clause (iii), the Board shall approve the amount of a fee determined under clause
(i)unless the Board determines, based on substantial evidence in the record, that the amount of the fee unnecessarily inhibits the use of the policy. The Board shall not disapprove a fee on the basis of— a comparison to maintenance fees paid with respect to the policy; or the potential for the fee to result in a financial gain or loss to the applicant based on the number of policies sold. . The amendments made by this section shall apply to reimbursement requests made on or after October 1, 2016. An applicant that was denied all or a portion of a reimbursement request under paragraph
(1)of section 522(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(b) ) during the period between October 1, 2016 and the date of the enactment of this Act shall be given an opportunity to resubmit such request.
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Sec. 10007
Maintenance of policies
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