Sec. 11120. MAINTENANCE OF POLICIES
449 words·~2 min read·
/statute-compilations/comps-15214/sec-11120A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
## SEC. 11120 MAINTENANCE OF POLICIES ###
(a)In General Section 522(b) of the Federal Crop Insurance Act (7 U.S.C. 1522(b)) is amended— ####
(1)in paragraph (1), by amending subparagraph
(B)to read as follows: > > ##### “(B) Reimbursement > > > ###### “(i) In general > > An applicant who submits a policy under section 508(h) shall be eligible for the reimbursement of reasonable research and development costs if the policy is approved by the Board for sale to producers. > > > ###### “(ii) Reasonable costs > > For the purpose of reimbursing research and development and maintenance costs under this section, costs of the applicant shall be considered reasonable costs if the costs are based on— > > > ###### “(I) > > for any employees or contracted personnel, wage rates equal to not more than 2 times the hourly wage rate plus benefits, as provided by the Bureau of Labor Statistics for the year in which such costs are incurred, calculated using the formula applied to an applicant by the Corporation in reviewing proposed project budgets under this section on October 1, 2016; and > > > ###### “(II) > > other actual documented costs incurred by the applicant.” > ; and ####
(2)in paragraph (4)— #####
(A)in subparagraph (C), by striking “approved insurance provider” and inserting “applicant”; and #####
(B)in subparagraph (D)— ######
(i)in clause (i), by striking “determined by the approved insurance provider” and inserting “determined by the applicant”; and ######
(ii)by adding at the end the following: > > ###### “(iii) Review > > After the Board approves the amount of a fee under clause (ii), the fee shall remain in effect and not be reviewed by the Board unless— > > > ###### “(I) > > the applicant petitions the Board for reconsideration of the fee; > > > ###### “(II) > > a substantial change is made to the policy, as determined by the Board; or > > > ###### “(III) > > there is substantial evidence that the fee is inhibiting sales or use of the policy, as determined by the Board.” > . ###
(b)Applicability **[**[7 U.S.C. 1522 note](/us/usc/t7/s1522)**]** ####
(1)In general The amendments made by this section shall apply to reimbursement requests made on or after October 1, 2016. ####
(2)Resubmission of denied request An applicant that was denied all or a portion of a reimbursement request under paragraph
(1)of section 522(b) of the Federal Crop Insurance Act (7 U.S.C. 1522(b)) during the period between October 1, 2016, and the date of the enactment of this Act shall be given an opportunity to resubmit such request.
Connectionstraces to 1
Traces to 1 document
U.S. Code
Citation graph
cites case law
Sec. 11120
MAINTENANCE OF POLICIES
Cites 1Cited by 0 across 0 sources