Sec. 11007. Limitation on interest accrual
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Section 508(d) of Federal Crop Insurance Act ( 7 U.S.C. 1508(d) ) is amended by inserting at the end the following new paragraph: Effective beginning with the 2025 reinsurance year, in the case of a producer that is delinquent in paying a premium or administrative fee, an approved insurance provider may charge such producer with respect to such delinquency an amount less than or equal to 1 percent of the simple interest of the amount for which such producer is delinquent, for each month (not to exceed 60-consecutive months) the producer is so delinquent. .
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Sec. 11007
Limitation on interest accrual
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