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H.R. 3845 (114th): Crop Insurance Restoration Act

We don’t have a summary available yet.

The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Oct 28, 2015.

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.)