S.Amdt. 921
What it does: Adds SEC. 110_. MARKET LOSS PILOT ENDORSEMENT PROGRAM on page 1096, between lines 15 and 16
Sen. Dianne Feinstein (D-CA)What it changes
1 change to S. 954
Adds SEC. 110_. MARKET LOSS PILOT ENDORSEMENT PROGRAM on page 1096, between lines 15 and 16
Adds a sectionPrinted pageInserted: SEC. 110_. MARKET LOSS PILOT ENDORSEMENT PROGRAM.
Inserted: Section 523 of the Federal Crop Insurance Act (7 U.S.C. 1523) is amended by adding at the end the following:
Inserted: "(i) Market Loss Pilot Endorsement Program.--
Inserted: "(1) In general.--To the extent practicable starting with the 2014 reinsurance year, notwithstanding section 508(a)(1), the Corporation shall establish and carry out a market loss pilot endorsement program for producers of specialty crops (as defined in section 3 of the Specialty Crops Competitiveness Act of 2004 (7 U.S.C. 1621 note; Public Law 108-465)) that covers losses due to--
Inserted: "(A) a quarantine imposed under Federal law, pursuant to the terms of which the commodity is destroyed or otherwise unable to be marketed or otherwise used for its intended purpose (as determined by the Secretary); or
Inserted: "(B) a naturally occurring, unintentional outbreak of a pathogen of public health concern (as determined by the Secretary) that results in inadequate market price.
Inserted: "(2) Determination by board.--The Board shall approve a policy or plan of insurance proposed under paragraph (1) if, as determined by the Board, the policy or plan of insurance--
Inserted: "(A) protects the interest of producers;
Inserted: "(B) is actuarially sound; and
Inserted: "(C) requires the payment of premiums and administrative fees by a producer obtaining the insurance.".
Original wording
On page 1096, between lines 15 and 16, insert the following:
Read automatically from the Congressional Record. Check the original before relying on it.
As printed
SA 921. Mrs. FEINSTEIN submitted an amendment intended to be proposed by her to the bill S. 954, to reauthorize agricultural programs through 2018; which was ordered to lie on the table; as follows:
On page 1096, between lines 15 and 16, insert the following:
SEC. 110_. MARKET LOSS PILOT ENDORSEMENT PROGRAM.
Section 523 of the Federal Crop Insurance Act (7 U.S.C. 1523) is amended by adding at the end the following:
“(i) Market Loss Pilot Endorsement Program.--
“(1) In general.--To the extent practicable starting with the 2014 reinsurance year, notwithstanding section 508(a)(1), the Corporation shall establish and carry out a market loss pilot endorsement program for producers of specialty crops (as defined in section 3 of the Specialty Crops Competitiveness Act of 2004 (7 U.S.C. 1621 note; Public Law 108-465)) that covers losses due to--
“(A) a quarantine imposed under Federal law, pursuant to the terms of which the commodity is destroyed or otherwise unable to be marketed or otherwise used for its intended purpose (as determined by the Secretary); or
“(B) a naturally occurring, unintentional outbreak of a pathogen of public health concern (as determined by the Secretary) that results in inadequate market price.
“(2) Determination by board.--The Board shall approve a policy or plan of insurance proposed under paragraph (1) if, as determined by the Board, the policy or plan of insurance--
“(A) protects the interest of producers;
“(B) is actuarially sound; and
“(C) requires the payment of premiums and administrative fees by a producer obtaining the insurance.”.
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Senate amendment submitted
May 20, 2013