S.Amdt. 2332
What it does: Adds SEC. 11011. ANNUAL LIMITATION ON ADMINISTRATIVE AND OPERATING EXPENSES on page 953, between lines 8 and 9
Sen. Saxby Chambliss (R-GA)What it changes
1 change to S. 3240
Adds SEC. 11011. ANNUAL LIMITATION ON ADMINISTRATIVE AND OPERATING EXPENSES on page 953, between lines 8 and 9
Adds a sectionPrinted pageInserted: SEC. 11011. ANNUAL LIMITATION ON ADMINISTRATIVE AND OPERATING EXPENSES.
Inserted: Section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(4)) (as amended by section 11010) is amended by adding at the end the following:
Inserted: "(G) Annual limitation on administrative and operating expenses.--The amount paid by the Corporation to reimburse approved insurance providers and agents for the administrative and operating costs of the approved insurance providers and agents shall not exceed--
Inserted: "(i) for the 2014 reinsurance year, $900,000,000; and
Inserted: "(ii) for each subsequent reinsurance year, the amount of administrative and operating costs received for the preceding reinsurance year, adjusted to reflect changes in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor for the 12-month period ending the preceding November 30.".
Original wording
On page 953, between lines 8 and 9, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 2332. Mr. CHAMBLISS (for himself and Mr. Isakson) submitted an amendment intended to be proposed by him to the bill S. 3240, to reauthorize agricultural programs through 2017, and for other purposes; which was ordered to lie on the table; as follows:
On page 953, between lines 8 and 9, insert the following:
SEC. 11011. ANNUAL LIMITATION ON ADMINISTRATIVE AND OPERATING EXPENSES.
Section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(4)) (as amended by section 11010) is amended by adding at the end the following:
“(G) Annual limitation on administrative and operating expenses.--The amount paid by the Corporation to reimburse approved insurance providers and agents for the administrative and operating costs of the approved insurance providers and agents shall not exceed--
“(i) for the 2014 reinsurance year, $900,000,000; and
“(ii) for each subsequent reinsurance year, the amount of administrative and operating costs received for the preceding reinsurance year, adjusted to reflect changes in the Consumer Price Index for All Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor for the 12-month period ending the preceding November 30.”.
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Senate amendment submitted
June 11, 2012