US Congress Senate Bill 1773 (Prior Session Legislation)

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Spectrum: Bipartisan Bill
Status: Introduced on September 7 2017 - 25% progression, died in committee
Action: 2017-09-07 - Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Pending: Senate Agriculture, Nutrition, And Forestry Committee
Text: Latest bill text (Introduced) [PDF]

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. 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.)

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.

Sen. Jeff Flake [R-AZ]

Sen. Jeanne Shaheen [D-NH]

Date	Chamber	Action
2017-09-07	Senate	Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

HB3698 (Same As) 2017-09-15 - Referred to the Subcommittee on General Farm Commodities and Risk Management.

Type	Source
Summary	https://www.congress.gov/bill/115th-congress/senate-bill/1773/all-info
Text	https://www.congress.gov/115/bills/s1773/BILLS-115s1773is.pdf