Bill > S1493

This bill, known as the Livestock Indemnity Program Improvement Act of 2025, amends the Agricultural Act of 2014 to enhance how market value is determined for livestock indemnity payments. Specifically, the bill requires the Secretary of Agriculture to calculate the market value of livestock for compensation purposes through quarterly assessments, done in coordination with the Agricultural Marketing Service (AMS) and using other appropriate resources. The Livestock Indemnity Program (LIP) is a federal program that provides financial assistance to livestock producers who have suffered losses due to specific natural disasters or adverse weather conditions. The bill aims to make the payment rate calculations more frequent and responsive to current market conditions by mandating quarterly updates, which should help ensure that farmers receive more accurate compensation when their livestock are lost due to qualifying events.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/1493/all-info