HR 1995 113th Congress House Agriculture and Food Agricultural insurance Agricultural prices, subsidies, credit Government information and archives Insurance industry and regulation

AFFIRM Act

Introduced: May 15, 2013 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

May 22, 2013

Referred to the Subcommittee on General Farm Commodities and Risk Management.

May 15, 2013

Referred to the House Committee on Agriculture.

May 15, 2013

Introduced in House

Plain-English summary Congressional Research Service

Assisting Family Farmers through Insurance Reform Measures Act or AFFIRM Act - Amends the Federal Crop Insurance Act to prohibit the Federal Crop Insurance Corporation (FCIC) from paying a part of the crop insurance premium for additional coverage for any person or legal entity that has an average adjusted gross income in excess of $250,000.

Caps: (1) the rate of return for all crop insurance providers combined for the 2013 and subsequent reinsurance years at 12% of retained premium, and (2) total reimbursements for administrative and operating costs for the 2013 insurance year for all types of policies and plans of insurance at $900 million.

Requires that any renegotiated Standard Reinsurance Agreement, when compared to the immediately preceding Agreement, shall reduce FCIC obligations.

Requires annual disclosure to the public of specified crop insurance premium subsidy information.

What's happening now May 22, 2013

Referred to the Subcommittee on General Farm Commodities and Risk Management.

Committees of jurisdiction 2