Sec. 516. FUNDING
726 words·~3 min read·
/statute-compilations/comps-10238/sec-516A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 516 FUNDING **[**[7 U.S.C. 1516](/us/usc/t7/s1516)**]** ###
(a)Authorization of Appropriations ####
(1)Discretionary expenses There are authorized to be appropriated for fiscal year 1999 and each subsequent fiscal year such sums as are necessary to cover the salaries and expenses of the Corporation. ####
(2)Mandatory expenses There are authorized to be appropriated such sums as are necessary to cover for each of the 1999 and subsequent reinsurance years the following: #####
(A)The administrative and operating expenses of the Corporation for the sales commissions of agents. #####
(B)Premium subsidies, including the administrative and operating expenses of an approved insurance provider for the delivery of policies with additional coverage. #####
(C)Costs associated with the conduct of livestock and wild salmon pilot programs carried out under section 523, subject to the limitations in subsection (a)(3)(E)(ii) of that section. #####
(D)Costs associated with the reimbursement, contracting, and partnerships for research and development under section 522. ###
(b)Payment of Corporation Expenses From Insurance Fund ####
(1)Expenses generally For each of the 1999 and subsequent reinsurance years, the Corporation may pay from the insurance fund established under subsection
(c)all expenses of the Corporation (other than expenses covered by subsection (a)(1) and expenses covered by paragraph (2)(A)), including the following: #####
(A)Premium subsidies and indemnities. #####
(B)Administrative and operating expenses of the Corporation necessary to pay the sales commissions of agents. #####
(C)All administrative and operating expense reimbursements due under a reinsurance agreement with an approved insurance provider. #####
(D)Costs associated with the conduct of livestock and wild salmon pilot programs carried out under section 523, subject to the limitations in subsection (a)(3)(E)(ii) of that section. #####
(E)Costs associated with the reimbursement, contracting, and partnerships for research and development under section 522. ####
(2)Policy consideration and implementation #####
(A)In general For each of the 1999 and subsequent reinsurance years, the Corporation may use the insurance fund established under subsection (c), but not to exceed $3,500,000 for each fiscal year, to pay the following: ######
(i)Costs associated with the consideration and implementation of policies, plans of insurance, and related materials submitted under section 508(h) or developed under section 522 or 523. ######
(ii)Costs to contract for the review of policies, plans of insurance, and related materials under section 505(e) and to contract for other assistance in considering policies, plans of insurance, and related materials. #####
(B)Dairy options pilot program Amounts necessary to carry out the dairy options pilot program shall not be counted toward the limitation on expenses specified in subparagraph (A). #####
(C)Reviews, compliance, and integrity ######
(i)In general For each of the 2014 and subsequent reinsurance years, the Corporation may use the insurance fund established under subsection (c), but not to exceed $7,000,000 for each of fiscal years 2014 through 2025 and $10,000,000 for fiscal year 2026 and each fiscal year thereafter, to pay costs— ######
(I)to reimburse expenses incurred for the operations and review of policies, plans of insurance, and related materials (including actuarial and related information); and ######
(II)to assist the Corporation in maintaining program actuarial soundness and financial integrity. ######
(ii)Secretarial action For the purposes described in clause (i), the Secretary may, without further appropriation— ######
(I)merge some or all of the funds made available under this subparagraph into the accounts of the Risk Management Agency; and ######
(II)obligate those funds. ######
(iii)Maintenance of funding Funds made available under this subparagraph shall be in addition to other funds made available for costs incurred by the Corporation or the Risk Management Agency. ###
(c)Insurance Fund ####
(1)In general There is established an insurance fund, for the deposit of premium income, amounts made available under subsection (a)(2), and civil fines collected under section 515(h), to be available without fiscal year limitation. ####
(2)Commodity credit corporation funds If at any time the amounts in the insurance fund are insufficient to enable the Corporation to carry out subsection (b), to the extent the funds of the Commodity Credit Corporation are available— #####
(A)the Corporation may request the Secretary to use the funds of the Commodity Credit Corporation to carry out subsection (b); and #####
(B)the Secretary may use the funds of the Commodity Credit Corporation to carry out subsection (b).
Connectionstraces to 1
Traces to 1 document
U.S. Code