Bill > S3843

This bill, known as the Temperature Event Mitigation Policy Act or TEMP Act, directs the Federal Crop Insurance Corporation (FCIC), a government entity that manages the federal crop insurance program, to research and develop new insurance policies specifically designed to protect a wide range of crops, including tomatoes, peppers, sugarcane, strawberries, melons, citrus, peaches, and blueberries, against losses caused by frost or cold weather events on a national scale. This research will explore the effectiveness of risk management tools, such as index-based policies which pay out based on predefined weather triggers rather than actual crop damage, for managing infrequent but potentially devastating weather events, and the resulting insurance policy must offer protection against either production loss or revenue loss. Furthermore, the FCIC is required to submit a report to relevant congressional committees within one year of the bill's enactment detailing the findings of this research and development and any recommendations stemming from it.

Agriculture and Natural Resources

https://www.congress.gov/bill/119th-congress/senate-bill/3843/all-info