S.Amdt. 1014

1. Adds SEC. 110__. CROP INSURANCE SUBSIDY REDUCTION on page 1111, line 20

   Adds a sectionPrinted page

   Inserted: SEC. 110__. CROP INSURANCE SUBSIDY REDUCTION.

   Inserted: (a) Reduction in Share of Crop Insurance Premium Paid by Federal Crop Insurance Corporation.--Section 508(e)(2) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)(2)) is amended--

   Inserted: (1) in subparagraph (B)(i), by striking "67" and inserting "55";

   Inserted: (2) in subparagraph (E)(i), by striking "55" and inserting "24";

   Inserted: (3) in subparagraph (F)(i), by striking "48" and inserting "17";

   Inserted: (4) in subparagraph (G)(i), by striking "38" and inserting "13";

   Inserted: (5) by redesignating subparagraphs (C) through (G) as subparagraphs (G) through (K), respectively; and

   Inserted: (6) by inserting after subparagraph (B) the following:

   Inserted: "(C) In the case of additional coverage equal to or greater than 55 percent, but less than 60 percent, of the recorded or appraised average yield indemnified at not greater than 100 percent of the expected market price, or a comparable coverage for a policy or plan of insurance that is not based on individual yield, the amount shall be equal to the sum of--

   Inserted: "(i) 46 percent of the amount of the premium established under subsection (d)(2)(B)(i) for the coverage level selected; and

   Inserted: "(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover operating and administrative expenses.

   Inserted: "(D) In the case of additional coverage equal to or greater than 60 percent, but less than 65 percent, of the recorded or appraised average yield indemnified at not greater than 100 percent of the expected market price, or a comparable coverage for a policy or plan of insurance that is not based on individual yield, the amount shall be equal to the sum of--

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   Inserted: "(i) 38 percent of the amount of the premium established under subsection (d)(2)(B)(i) for the coverage level selected; and

   Inserted: "(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover operating and administrative expenses.

   Inserted: "(E) In the case of additional coverage equal to or greater than 65 percent, but less than 70 percent, of the recorded or appraised average yield indemnified at not greater than 100 percent of the expected market price, or a comparable coverage for a policy or plan of insurance that is not based on individual yield, the amount shall be equal to the sum of--

   Inserted: "(i) 42 percent of the amount of the premium established under subsection (d)(2)(B)(i) for the coverage level selected; and

   Inserted: "(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover operating and administrative expenses.

   Inserted: "(F) In the case of additional coverage equal to or greater than 70 percent, but less than 75 percent, of the recorded or appraised average yield indemnified at not greater than 100 percent of the expected market price, or a comparable coverage for a policy or plan of insurance that is not based on individual yield, the amount shall be equal to the sum of--

   Inserted: "(i) 32 percent of the amount of the premium established under subsection (d)(2)(B)(i) for the coverage level selected; and

   Inserted: "(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover operating and administrative expenses.".

   Inserted: (b) Budgetary Effects.--The budgetary effects of this section, for the purpose of complying with the Statutory Pay-As-You-Go Act of 2010, shall be determined by reference to the latest statement titled "Budgetary Effects of PAYGO Legislation" for this section, submitted for printing in the Congressional Record by the Chairman of the Senate Budget Committee, provided that such statement has been submitted prior to the vote on passage.

   Original wording

   On page 1111, after line 20, add the following:

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As printed