Bill > HR2117

This bill amends the Federal Crop Insurance Act to expand support for beginning farmers and ranchers and veteran farmers and ranchers by extending their eligibility period from 5 to 10 crop years and increasing their crop insurance assistance. Specifically, the bill provides enhanced reinsurance assistance for these farmers, with higher percentage point adjustments in the first four reinsurance years they participate in a crop insurance policy. The percentage point assistance starts at 15 percentage points in the first two years, reduces to 13 points in the third year, drops to 11 points in the fourth year, and then stabilizes at 10 percentage points for years five through ten. These changes aim to provide more financial support and stability for new and veteran farmers during the critical early years of their agricultural enterprises, helping them manage risk and establish their farming operations. The bill also makes a conforming amendment to remove a related provision in the existing law.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/house-bill/2117/all-info