US HB3698 | 2017-2018 | 115th Congress
Status
Spectrum: Bipartisan Bill
Status: Introduced on September 7 2017 - 25% progression, died in committee
Action: 2017-09-15 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
Pending: House Subcommittee on General Farm Commodities and Risk Management Committee
Text: Latest bill text (Introduced) [PDF]
Status: Introduced on September 7 2017 - 25% progression, died in committee
Action: 2017-09-15 - Referred to the Subcommittee on General Farm Commodities and Risk Management.
Pending: House Subcommittee on General Farm Commodities and Risk Management Committee
Text: Latest bill text (Introduced) [PDF]
Summary
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. This bill amends the Federal Crop Insurance Act to modify the requirements for the federal crop insurance program. The bill: (1) limits the average rate of return for reinsured companies for the 2018 reinsurance year and each subsequent reinsurance year to 9.6% of retained premiums, and (2) eliminates the requirement that any renegotiated Standard Insurance Agreement (SRA) be budget-neutral. (The SRA is an agreement between the Department of Agriculture [USDA] and the private companies that administer the federal crop insurance program that specifies details such as administrative and operating expense reimbursements and risk sharing. Eliminating the budget neutrality requirement permits USDA to use the renegotiation of the SRA to achieve savings.)
Title
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.
Sponsors
| Rep. John Duncan [R-TN] | Rep. Ron Kind [D-WI] |
History
| Date | Chamber | Action |
|---|---|---|
| 2017-09-15 | House | Referred to the Subcommittee on General Farm Commodities and Risk Management. |
| 2017-09-07 | House | Referred to the House Committee on Agriculture. |
| 2017-09-07 | House | Introduced in House |
Same As/Similar To
SB1773 (Same As) 2017-09-07 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Subjects
US Congress State Sources
| Type | Source |
|---|---|
| Summary | https://www.congress.gov/bill/115th-congress/house-bill/3698/all-info |
| Text | https://www.congress.gov/115/bills/hr3698/BILLS-115hr3698ih.pdf |
