H.R. 3904 — Introduced in House

I 118th CONGRESS 1st Session H. R. 3904 IN THE HOUSE OF REPRESENTATIVES June 7, 2023Mr. Feenstra (for himself and Ms. Craig) introduced the following bill; which was referred to the Committee on Agriculture A BILL To amend the Federal Crop Insurance Act to promote crop insurance support for beginning farmers and ranchers, and for other purposes. 1. Short title This Act may be cited as the Crop Insurance for Future Farmers Act. 2. Crop insurance support for beginning farmers and ranchers (a) Definition of beginning farmer or rancher Section 502(b)(3) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1502(b)(3)) is amended by striking 5 crop years and inserting 10 crop years. (b) Increase in assistance Section 508(e)(8) of the Agricultural Adjustment Act of 1938 (7 U.S.C. 1508(e)(8)) is amended— (1) by striking Notwithstanding and inserting the following: (A) In general Notwithstanding ; (2) by striking is 10 percentage points greater than and inserting is the amount of percentage points specified in subparagraph (B) greater than; and (3) by adding at the end the following: (B) Percentage points adjustments For purposes of subparagraph (A), the percentage points specified in this subparagraph are as follows: (i) For each of the first and second reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 15 percentage points. (ii) For the third reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 13 percentage points. (iii) For the fourth reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 11 percentage points. (iv) For each of the fifth through tenth reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 10 percentage points. .