Sec. 11504. Reimbursement of privately developed plans
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Section 522(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(b) ) is amended— in paragraph (1)(B)— in clause (ii)— in the matter preceding subclause (I), by striking costs of the applicant shall be considered reasonable costs if the costs are based on and inserting reasonable costs may include ; and in subclause (I)— by striking wage rates equal to not more than and inserting actual wage rates up to ; and by striking incurred, and all that follows through 2016 and inserting incurred ; and by adding at the end the following:
On the request of the Board, applicants shall provide third-party documents, such as tax documents and receipts, as support for a request for reimbursement of actual costs. ; in paragraph (2), by striking subparagraph (K); in paragraph
(4)adding at the end the following: The Corporation may assume responsibility for maintenance of the policy if the Corporation determines that the applicant has failed to maintain the policy, or to make adjustments to improve actuarial soundness, after appropriate notice and due process. ; and in paragraph (6)— by striking based on the complexity and inserting the following: based on— the complexity ; in subparagraph
(A)(as so designated), by striking the period at the end and inserting a semicolon; and by adding at the end the following: the quantity of work required to maintain the policy; whether the policy has had consistent, unexplainable, and high loss ratios; and whether the developer has demonstrated a pattern or practice of noncompliance with requests from the Board or the Department. .
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Sec. 11504
Reimbursement of privately developed plans
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