A bill to amend the Federal Crop Insurance Act.

Amends the Federal Crop Insurance Act: (1) to change its title to the "Federal Commodity Insurance Act"; (2) to change the agency's name to the Federal Commodity Insurance Corporation; (3) to extend commodity insurance to all counties of the United States and to all commodities; and (4) to require the Corporation to pay 50 percent of the premium cost of the commodity insurance issued to any individual under the provisions of this Act. Removes the $12,000,000 ceiling on annual appropriations.