S 2458
118th Congress
Senate
Agriculture and Food
Crop Insurance for Future Farmers Act of 2023
Everywhere this bill has been
2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Jul 25, 2023
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Jul 25, 2023
Introduced in Senate
Plain-English summary
Crop Insurance for Future Farmers Act of 2023
This bill amends the federal crop insurance program (FCIP) to increase the premium assistance rate for beginning and veteran farmers or ranchers.
Specifically, the bill amends the amount of percentage points that are added to the premium assistance rate for beginning and veteran farmers or ranchers for an applicable insurance policy or plan (currently 10 percentage points) to provide
- 15 percentage points in each of the 1st and 2nd reinsurance years,
- 13 percentage points in the 3rd year,
- 11 percentage points in the 4th year, and
- 10 percentage points in each of the 5th through the 10th reinsurance years.
The bill also amends the FCIP definition of beginning farmer or rancher to include a farmer or rancher who has not actively operated and managed a farm or ranch for more than 10 crop years (currently more than 5 crop years).
What's happening now
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Committees of jurisdiction
1