S 1442
114th Congress
Senate
Agriculture and Food
Agricultural insurance
Budget deficits and national debt
ERASE Act
Introduced: May 21, 2015
See on congress.gov
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
May 21, 2015
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
May 21, 2015
Introduced in Senate
Plain-English summary
Exclusion for Deficit Reduction in Agricultural Subsidies Elimination Act or the ERASE Act
This bill amends the Federal Crop Insurance Act to eliminate a requirement that any renegotiated Standard Insurance Agreement (SRA) be budget neutral.
The SRA is an agreement between the Department of Agriculture (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.
Eliminating the budget neutrality requirement permits USDA to use the renegotiation of the SRA to achieve savings.
What's happening now
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Committees of jurisdiction
1
Cosponsors
1