S.Amdt. 1061
What it does: Adds SEC. 11___. LIMITATION ON PREMIUM SUBSIDY BASED ON AVERAGE ADJUSTED GROSS INCOME on page 1101, between lines 5 and 6
Sen. Tom Coburn (R-OK)What it changes
1 change to S. 954
Adds SEC. 11___. LIMITATION ON PREMIUM SUBSIDY BASED ON AVERAGE ADJUSTED GROSS INCOME on page 1101, between lines 5 and 6
Adds a sectionPrinted pageInserted: SEC. 11___. LIMITATION ON PREMIUM SUBSIDY BASED ON AVERAGE ADJUSTED GROSS INCOME.
Inserted: Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) (as amended by section 11030(b)) is amended by adding at the end the following:
Inserted: "(9) Limitation on premium subsidy based on average adjusted gross income.--
Inserted: "(A) Definition of average adjusted gross income.--In this paragraph, the term 'average adjusted gross income' has the meaning given the term in section 1001D(a) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(a)).
Inserted: "(B) Limitation.--Notwithstanding any other provision of this subtitle and beginning with the 2014 reinsurance year, in the case of any producer that is a person or legal entity that has an average adjusted gross income in excess of $750,000 based on the most recent data available from the Farm Service Agency as of the beginning of the reinsurance year, the total amount of premium subsidy provided with respect to additional coverage under subsection (c), section 508B, or section 508C issued on behalf of the producer for a reinsurance year shall be 15 percentage points less than the premium subsidy provided in accordance with this subsection that would otherwise be available for the applicable policy, plan of insurance, and coverage level selected by the producer.".
Original wording
On page 1101, between lines 5 and 6, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 1061. Mr. COBURN (for himself, Mr. Durbin, and Mr. McCain) submitted an amendment intended to be proposed by him to the bill S. 954, to reauthorize agricultural programs through 2018; which was ordered to lie on the table; as follows:
On page 1101, between lines 5 and 6, insert the following:
SEC. 11___. LIMITATION ON PREMIUM SUBSIDY BASED ON AVERAGE ADJUSTED GROSS INCOME.
Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) (as amended by section 11030(b)) is amended by adding at the end the following:
“(9) Limitation on premium subsidy based on average adjusted gross income.--
“(A) Definition of average adjusted gross income.--In this paragraph, the term ‘average adjusted gross income' has the meaning given the term in section 1001D(a) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(a)).
“(B) Limitation.--Notwithstanding any other provision of this subtitle and beginning with the 2014 reinsurance year, in the case of any producer that is a person or legal entity that has an average adjusted gross income in excess of $750,000 based on the most recent data available from the Farm Service Agency as of the beginning of the reinsurance year, the total amount of premium subsidy provided with respect to additional coverage under subsection (c), section 508B, or section 508C issued on behalf of the producer for a reinsurance year shall be 15 percentage points less than the premium subsidy provided in accordance with this subsection that would otherwise be available for the applicable policy, plan of insurance, and coverage level selected by the producer.”.
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Senate amendment submitted
May 22, 2013