Section 1 Short title
This Act may be cited as the “Crop Insurance Transparency Act”.
Crop Insurance Transparency Act
A BILL
To amend the Federal Crop Insurance Act to increase transparency with respect to crop insurance, and for other purposes.
Sec. 2 Crop insurance premium subsidies disclosure in the public interest
Section 502(c)(2) of the Federal Crop Insurance Act (7 U.S.C. 1502(c)(2)) is amended—
by redesignating subparagraphs (A) and (B) as subparagraphs (C) and (D), respectively; and
by inserting before subparagraph (C) (as so redesignated) the following:
“(A) Disclosure in the public interest—Notwithstanding paragraph (1) or any other provision of law, except as provided in subparagraph (B), the Secretary shall on an annual basis make available to the public—
“(i)
“(I) the name of each individual or entity that obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance during the previous reinsurance year;
“(II) the amount of premium subsidy received by the individual or entity from the Corporation; and
“(III) the amount of any Federal portion of indemnities paid in the event of a loss for that reinsurance year for each policy associated with that individual or entity; and
“(ii) for each private insurance provider, a description by the name of the private insurance provider of—
“(I) the underwriting gains earned through participation in the federally subsidized crop insurance program; and
“(II) the amount paid under this subtitle for—
“(aa) administrative and operating expenses;
“(bb) any Federal portion of indemnities and reinsurance; and
“(cc) any other purpose.
“(B) Limitation—The Secretary shall not disclose under subparagraph (A) information relating to individuals and entities covered by a catastrophic risk protection plan offered under section 508(b).”