Bill > S3253

This bill, the Temperature Endorsement for Multiperil Policies Act of 2023 (TEMP Act of 2023), amends the Federal Crop Insurance Act to require the Federal Crop Insurance Corporation to conduct research and development on an index-based insurance policy that would protect crops, such as tomatoes, peppers, sugarcane, strawberries, melons, citrus, peaches, and blueberries, against losses due to frost or cold weather events on a nationally available basis. The bill requires the Corporation to evaluate the effectiveness of risk management tools, like the use of an index, for low-frequency and catastrophic loss weather events, and to develop a policy that provides protection for either production or revenue loss. The Corporation must submit a report to Congress within a year detailing the research and development results and any recommendations.

Agriculture and Natural Resources

https://www.congress.gov/bill/118th-congress/senate-bill/3253/all-info