IN THE SENATE OF THE UNITED STATES
September 7, 2017
Mr. Flake (for himself and Mrs. Shaheen) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.
Section 508(k) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)) is amended—
in paragraph (3)—
(3) Share of risk.—The and inserting the following:
Share of risk
by adding at the end the following:
Limitation on average rate of return
The target average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year shall be 9.6 percent of retained premiums.
in paragraph (8), by striking subparagraph (F).