A bill to amend the Federal Crop Insurance Act to increase the use of Federal crop insurance by American farmers.
Federal Crop Insurance Act - Amends the Federal Crop Insurance Act to: (1) increase the capital stock of the Federal Crop Insurance Corporation from $200,000,000 to $500,000,000; (2) put the compensation basis for members of the Board of Directors and of the Advisory Committee at the GS-18 level; (3) eliminate separate county committees on crop insurance; (4) extend insurance coverage for the crop year 1980 and thereafter to all feed grains, rice, soybeans, sugar beets and sugarcane wherever grown commercially; (5) remove the limit on the number of counties where insurance may be offered; (6) require the Federal Government to pay one-third of each calculated premium assessed against a participant by the Corporation; (7) authorize reinsurance of multiple peril crop insurance risks in not to exceed 20 counties; (8) authorize increased appropriation levels for fiscal years 1979 and following; and (9) direct the Secretary of Agriculture to assess the potential for increasing the role of private enterprise in providing crop insurance coverage for agricultural producers.
Introduced in Senate
Referred to Senate Committee on Agriculture, Nutrition and Forestry.
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