Sec. 5. Federal crop insurance
383 words·~2 min read·
/bill/115/s/2667/pcs/section-5A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 502(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b) ) is amended— by redesignating paragraphs
(8)through
(11)as paragraphs
(9)through (12), respectively; and by inserting after paragraph
(7)the following: The term hemp has the meaning given the term in section 297A of the Agricultural Marketing Act of 1946. . Section 508(a)(2) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(a)(2) ) is amended by striking and sweet potatoes and inserting sweet potatoes, and hemp . Section 508(h) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(h) ) is amended— in paragraph (1)(B)— by redesignating clauses
(i)through
(iii)as subclauses
(I)through (III), respectively, and indenting appropriately; in the matter preceding subclause
(I)(as so redesignated), by striking The Corporation shall and inserting the following: The Corporation shall ; in clause (i)(I) (as so redesignated), by inserting subject to clause (ii), before will likely ; and by adding at the end the following: The Corporation may waive the viability and marketability requirement under clause (i)(I) in the case of a policy or pilot program relating to the production of hemp. ; and in paragraph (3)(C)— in clause (ii), by striking and at the end; in clause (iii), by striking the period at the end and inserting ; and ; and by adding at the end the following: in the case of reviewing policies and other materials relating to the production of hemp, may waive the viability and marketability requirement under subparagraph (A)(ii)(I). . Section 518 of the Federal Crop Insurance Act ( 7 U.S.C. 1518 ) is amended by inserting hemp, before aquacultural species . Section 522(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(b) ) is amended— in paragraph (2), by adding at the end the following: The Board may waive the viability and marketability requirements under this paragraph in the case of research and development relating to a policy to insure the production of hemp. ; and in paragraph (3)— by striking The Corporation and inserting the following: Subject to subparagraph (B), the Corporation ; and by adding at the end the following: The Corporation may waive the marketability requirement under subparagraph
(A)in the case of research and development relating to a policy to insure the production of hemp. .
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