Sec. 11008. Crop insurance support for beginning and veteran farmers and ranchers
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/bill/118/hr/8467/ih/section-11008·A 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 in paragraph (3), by striking 5 crop years and inserting 10 crop years ; and in paragraph (14)(B)— in clause
(ii)by striking 5 years and inserting 10 years ; and in clause
(iii)by striking 5-year and inserting 10-year . Section 508(e)(8) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(e)(8) ) is amended— by striking Notwithstanding and inserting the following: Notwithstanding ; by striking is 10 percentage points greater than and inserting is the amount of percentage points specified in subparagraph
(B)greater than ; and by adding at the end the following: For purposes of subparagraph (A), the percentage points specified in this subparagraph are as follows: For each of the first and second reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 15 percentage points. For the third reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 13 percentage points. For the fourth reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 11 percentage points. For each of the fifth through tenth reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 10 percentage points. .
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Sec. 11008
Crop insurance support for beginning and veteran farmers and ranchers
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