Farmers would get fairer crop insurance payments for damaged soybeans and other crops.
This bill would make changes to how farmers get paid for damaged crops through federal insurance. It would ensure that soybean farmers in disaster areas get more accurate payments for quality losses. It also would improve how the government reviews crop insurance rules for all farmers, starting in 2025.
Today, the Federal Crop Insurance Corporation conducts periodic reviews of its quality loss adjustment procedures, but the schedule isn't as strict, and stakeholder input isn't explicitly required. There is also no specific rule for regional soybean discount factors during disasters or salvage markets. After this bill, reviews would happen every 5 years starting in 2025, include diverse industry input, and require reports to Congress. It would also mandate specific regional discount factors for soybeans during covered disasters or salvage markets.
HR 442 · 119th Congress · January 15, 2025 · AI Summary by gemini-2.5-flash · 10/10
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