Us Congress 2025-2026 Regular Session

Us Congress Senate Bill SB1117 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	II
2	2	119THCONGRESS
3	3	1
4	4	STSESSION S. 1117
5	5	To amend the Federal Crop Insurance Act to modify a provision relating
6	6	to quality loss adjustment coverage.
7	7	IN THE SENATE OF THE UNITED STATES
8	8	MARCH25, 2025
9	9	Mr. K
10	10	ENNEDYintroduced the following bill; which was read twice and referred
11	11	to the Committee on Agriculture, Nutrition, and Forestry
12	12	A BILL
13	13	To amend the Federal Crop Insurance Act to modify a
14	14	provision relating to quality loss adjustment coverage.
15	15	Be it enacted by the Senate and House of Representa-1
16	16	tives of the United States of America in Congress assembled, 2
17	17	SECTION 1. SHORT TITLE. 3
18	18	This Act may be cited as the ‘‘Quality Loss Adjust-4
19	19	ment Improvement for Farmers Act’’. 5
20	20	SEC. 2. QUALITY LOSS ADJUSTMENT COVERAGE. 6
21	21	Section 508(m) of the Federal Crop Insurance Act 7
22	22	(7 U.S.C. 1508(m)) is amended— 8
23	23	(1) in paragraph (3)— 9
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26	26	•S 1117 IS
27	27	(A) by striking subparagraph (A) and in-1
28	28	serting the following: 2
29	29	‘‘(A) P
30	30	ERIODIC REVIEW.—Beginning in 3
31	31	calendar year 2025, and once every 5 years 4
32	32	thereafter, the Corporation shall contract with a 5
33	33	qualified person to conduct a review of the qual-6
34	34	ity loss adjustment procedures of the Corpora-7
35	35	tion, each of which shall be completed not later 8
36	36	than 1 year after the date of commencement of 9
37	37	the review.’’; 10
38	38	(B) in subparagraph (B), by striking ‘‘Ef-11
39	39	fective beginning not later than the 2004 rein-12
40	40	surance year, based on the review, the Corpora-13
41	41	tion’’ and inserting ‘‘Based on each review con-14
42	42	ducted under subparagraph (A), the Corpora-15
43	43	tion’’; 16
44	44	(C) by redesignating subparagraph (B) as 17
45	45	subparagraph (C); 18
46	46	(D) by inserting after subparagraph (A) 19
47	47	the following: 20
48	48	‘‘(B) S
49	49	TAKEHOLDER ENGAGEMENT .—Each 21
50	50	review under subparagraph (A) shall include en-22
51	51	gagement from regionally diverse industry 23
52	52	stakeholders for each agricultural commodity 24
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55	55	•S 1117 IS
56	56	for which a quality loss adjustment is offered.’’; 1
57	57	and 2
58	58	(E) by adding at the end the following: 3
59	59	‘‘(D) R
60	60	EPORT.—On the completion of each 4
61	61	review under subparagraph (A), the Corpora-5
62	62	tion shall submit to the Committee on Agri-6
63	63	culture, Nutrition, and Forestry of the Senate 7
64	64	and the Committee on Agriculture of the House 8
65	65	of Representatives a report that describes— 9
66	66	‘‘(i) findings from that review; 10
67	67	‘‘(ii) changes to the quality loss ad-11
68	68	justment procedures; and 12
69	69	‘‘(iii) the stakeholder engagement for 13
70	70	that review pursuant to subparagraph 14
71	71	(B).’’; and 15
72	72	(2) by adding at the end the following: 16
73	73	‘‘(7) R
74	74	EGIONAL DISCOUNT FACTORS FOR SOY -17
75	75	BEANS.— 18
76	76	‘‘(A) D
77	77	EFINITION OF COVERED DECLARA -19
78	78	TION.—In this paragraph, the term ‘covered 20
79	79	declaration’ means— 21
80	80	‘‘(i) a disaster declaration by the Sec-22
81	81	retary; 23
82	82	‘‘(ii) a major disaster declared by the 24
83	83	President under section 401 of the Robert 25
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86	86	•S 1117 IS
87	87	T. Stafford Disaster Relief and Emergency 1
88	88	Assistance Act (42 U.S.C. 5170); or 2
89	89	‘‘(iii) an emergency declared by the 3
90	90	President under section 501 of that Act 4
91	91	(42 U.S.C. 5191). 5
92	92	‘‘(B) D
93	93	ISCOUNT FACTOR.—In the event of 6
94	94	a covered declaration for a State or region, or 7
95	95	the occurrence of a salvage market for soybeans 8
96	96	in a State or region, the Corporation shall es-9
97	97	tablish a State or regional discount factor, as 10
98	98	applicable, to reflect the average quality dis-11
99	99	counts applied to the local or regional market 12
100	100	prices of the soybean crop. 13
101	101	‘‘(C) R
102	102	EPORTING REQUIREMENT .—Any 14
103	103	State or regional discount factor established 15
104	104	under subparagraph (B) shall be included in— 16
105	105	‘‘(i) the applicable periodic review con-17
106	106	ducted under paragraph (3)(A); and 18
107	107	‘‘(ii) the report described in para-19
108	108	graph (3)(D).’’. 20
109	109	Æ
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