IN THE SENATE OF THE UNITED STATES
April 19, 2018
Mrs. Shaheen (for herself, Mr. Flake, and Mr. Toomey) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry
To limit the level of premium subsidy provided by the Federal Crop Insurance Corporation to agricultural producers.
Limitation on payment of portion of premium by Corporation
Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended by adding at the end the following:
Notwithstanding any other provision of this title, the total amount of premium paid by the Corporation on behalf of a person or legal entity, directly or indirectly, with respect to all policies issued to the person or legal entity under this title for a crop year shall be limited to a maximum of $40,000.
Relationship to other law
To the maximum extent practicable, the Corporation shall carry out this paragraph in accordance with section 1001 of the Food Security Act of 1985 (7 U.S.C. 1308).