Bill > HR7498

This bill, known as the Temperature Endorsement for Multi-Peril Policies (TEMP Act), directs the Federal Crop Insurance Corporation (FCIC) to conduct research and development on an index-based insurance policy to protect crops, including tomatoes, peppers, sugarcane, strawberries, melons, citrus, peaches, and blueberries, against losses due to frost or cold weather events on a nationwide basis. The research and development will evaluate the effectiveness of risk management tools, such as the use of an index, with respect to low-frequency and catastrophic loss weather events, and result in a policy that provides protection for either production loss or revenue loss. The FCIC is required to submit a report to Congress within one year describing the research and development results and any recommendations.