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

The text of the bill below is as of Oct 28, 2015 (Introduced).

I

114th CONGRESS

1st Session

H. R. 3845

IN THE HOUSE OF REPRESENTATIVES

October 28, 2015

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

A BILL

To amend the Federal Crop Insurance Act to repeal the changes regarding the Standard Reinsurance Agreement enacted as part of the Bipartisan Budget Act of 2015.

1.

Short title

This Act may be cited as the Crop Insurance Restoration Act.

2.

Standard Reinsurance Agreement

Section 508(k)(8) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(8)), as amended by section 201 of the Bipartisan Budget Act of 2015, is further amended—

(1)

in subparagraph (A), by striking shall renegotiate and all that follows through the end of clause (ii) and inserting may renegotiate the financial terms and conditions of each Standard Reinsurance Agreement once during each period of 5 reinsurance years after the 2015 reinsurance year.;

(2)

in subparagraphs (C) and (F), by striking subparagraph (A)(ii) each place it appears and inserting subparagraph (A); and

(3)

by striking subparagraph (E).