Section 1 Short title
This Act may be cited as the “Harvest Price Subsidy Reduction Act”.
Harvest Price Subsidy Reduction Act
A BILL
To amend the Federal Crop Insurance Act to prohibit the paying of premium subsidies on policies based on the actual market price of an agricultural commodity at the time of harvest.
Sec. 2 Prohibition on premium subsidy for harvest price policies
Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended by adding at the end the following:
“(9) Prohibition on premium subsidy for harvest price policies—Notwithstanding any other provision of law and beginning with the 2016 reinsurance year, the Corporation may not pay any amount of premium subsidy in the case of a policy or plan of insurance that is based on the actual market price of an agricultural commodity at the time of harvest.”