HR 3845 114th Congress House Agriculture and Food Agricultural insurance

Crop Insurance Restoration Act

Introduced: October 28, 2015 See on congress.gov

Everywhere this bill has been 3 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Dec 1, 2015

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

Oct 28, 2015

Referred to the House Committee on Agriculture.

Oct 28, 2015

Introduced in House

Plain-English summary Congressional Research Service

Crop Insurance Restoration Act

This bill amends the Federal Crop Insurance Act to repeal changes regarding the Standard Reinsurance Agreement that were enacted as part of the Bipartisan Budget Act of 2015.

The bill eliminates provisions that: (1) require the Department of Agriculture (USDA) to renegotiate the Standard Reinsurance Agreement no later than December 31, 2016, and at least once every five years thereafter, and (2) establish an 8.9% cap on the overall rate of return for insurance providers under the agreement.

(The Standard Reinsurance Agreement is an agreement between USDA and the private companies that administer the federal crop insurance program. It specifies details such as administrative and operating expense reimbursements and risk sharing between USDA and the companies in the operation of the program.)

What's happening now December 1, 2015

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

Committees of jurisdiction 2