H.R. 3698House115th Congress (2017-2019)In Committee

To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.

AI-Generated Summary

Updated April 15, 2026 at 5:52 PM UTC

The bill changes the Federal Crop Insurance Act to put a cap on how much profit crop‑insurance companies can earn from reinsurance and to eliminate a rule that the reinsurance program must be budget‑neutral. It affects companies that provide reinsurance for federal crop insurance policies.

Key Provisions

Sets a maximum average rate of return for reinsured companies at 9.6% of the premiums they keep, starting with the 2018 reinsurance year.
Deletes the budget‑neutrality requirement in the Standard Reinsurance Agreement by removing subparagraph (F) of paragraph (8).

Legislative Activity

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2 earlier actions

HouseCommittee Latest Action

Referred to the Subcommittee on General Farm Commodities and Risk Management.

General Farm Commodities, Risk Management, and Credit Subcommittee

September 15, 2017

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HouseIntro Referral

Introduced in House

September 7, 2017

HouseIntro Referral

Referred to the House Committee on Agriculture.

Agriculture Committee

September 7, 2017

HouseCommittee

Referred to the Subcommittee on General Farm Commodities and Risk Management.

General Farm Commodities, Risk Management, and Credit Subcommittee

September 15, 2017

Bill Text

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Introduced in HouseIssued September 7, 2017

115th CONGRESS

1st Session

H. R. 3698

IN THE HOUSE OF REPRESENTATIVES

September 7, 2017

Mr. Duncan of Tennessee (for himself and Mr. Kind) introduced the following bill; which was referred to the Committee on Agriculture

A BILL

To amend the Federal Crop Insurance Act to limit the overall rate of return for crop insurance providers and remove the requirement of budget neutrality in the Standard Reinsurance Agreement.

Reinsurance

Section 508(k) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)) is amended—

(1)

in paragraph (3)—

(A)

by striking (3) Share of risk.—The and inserting the following:

(3)

Risk

(A)

Share of risk

The

; and

(B)

by adding at the end the following:

(B)

Limitation on average rate of return

The target average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year shall be 9.6 percent of retained premiums.

; and

(2)

in paragraph (8), by striking subparagraph (F).