H.R. 6270 (112th): Crop Insurance Subsidy Transparency Act of 2012

112th Congress, 2011–2013. Text as of Aug 01, 2012 (Introduced).

Status & Summary | PDF | Source: GPO

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112th CONGRESS

2d Session

H. R. 6270

IN THE HOUSE OF REPRESENTATIVES

August 1, 2012

introduced the following bill; which was referred to the Committee on Agriculture

A BILL

To amend the Federal Crop Insurance Act to require annual disclosure of crop insurance premium subsidies in the public interest.

1.

Short title

This Act may be cited as the Crop Insurance Subsidy Transparency Act of 2012.

2.

Annual disclosure of crop insurance premium subsidies in the public interest

Section 502(c)(2) of the Federal Crop Insurance Act (7 U.S.C. 1502(c)(2)) is amended—

(1)

by redesignating subparagraphs (A) and (B) as subparagraphs (C) and (D) respectively; and

(2)

by inserting before subparagraph (C) (as so redesignated) the following:

(A)

Disclosure in the public interest

Notwithstanding paragraph (1) or any other provision of law, except as provided in subparagraph (B), the Secretary shall on an annual basis make available to the public—

(i)
(I)

the name of each individual or entity who obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance during the previous fiscal year;

(II)

the amount of premium subsidy received by the individual or entity from the Corporation; and

(III)

the amount of any Federal portion of indemnities paid in the event of a loss during that fiscal year for each policy associated with that individual or entity; and

(ii)

for each private insurance provider, by name—

(I)

the underwriting gains earned through participation in the federally subsidized crop insurance program; and

(II)

the amount paid under this subtitle for—

(aa)

administrative and operating expenses;

(bb)

any Federal portion of indemnities and reinsurance; and

(cc)

any other purpose.

(B)

Limitation

The Secretary shall not disclose information pertaining to individuals and entities covered by a catastrophic risk protection plan offered under section 508(b).

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