S. 1073

119 S1073 IS: Crop Insurance for Future Farmers Act
 U.S. Senate
 2025-03-14
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II
 119th CONGRESS  1st Session
 S. 1073
 IN THE SENATE OF THE UNITED STATES
 March 14, 2025
  Ms. Klobuchar  (for herself and  Mr. Thune ) introduced the following bill; which was read twice and referred to the  Committee on Agriculture, Nutrition, and Forestry
 A BILL
To amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers and veteran farmers and ranchers, and for other purposes.
1.
Short title
This Act may be cited as the   Crop Insurance for Future Farmers Act  .
2.
Crop insurance support for beginning farmers and ranchers and veteran farmers and ranchers
(a)
Definition of beginning farmer or rancher
(1)
In general
Section 502(b)(3) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b)(3) ) is amended by striking  5  and inserting  10 .
(2)
Conforming amendment
Section 522(c)(7) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(c)(7) ) is amended by striking subparagraph (F).
(b)
Definition of veteran farmer or rancher
Section 502(b)(14)(B) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b)(14)(B) ) is amended—
(1)
in clause (ii), by striking  5 years  and inserting  10 crop years ; and
(2)
in clause (iii), by striking  5-year  and inserting  10-year .
(c)
Increase in assistance
Section 508(e)(8) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(e)(8) ) is amended—
(1)
by striking  Notwithstanding  and inserting the following:
(A)
In general
Notwithstanding
 ;
(2)
in subparagraph (A) (as so designated), by striking  is 10 percentage points greater than  and inserting  is the number of percentage points specified in subparagraph (B) greater than ; and
(3)
by adding at the end the following:
(B)
Percentage points adjustments
For purposes of subparagraph (A), the percentage points specified in this subparagraph are as follows:
(i)
For each of the first and second reinsurance years that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 15 percentage points.
(ii)
For the third reinsurance year that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 13 percentage points.
(iii)
For the fourth reinsurance year that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 11 percentage points.
(iv)
For each of the fifth through tenth reinsurance years that a beginning farmer or rancher or veteran farmer or rancher participates as a beginning farmer or rancher or veteran farmer or rancher, respectively, in the applicable policy or plan of insurance, 10 percentage points.
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