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US HB442
Bill
Status
1/15/2025
Primary Sponsor
Julia Letlow
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AI Summary
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Amends the Federal Crop Insurance Act to require periodic reviews of quality loss adjustment procedures every 5 years beginning in 2025, with each review completed within 1 year of commencement
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Mandates stakeholder engagement from regionally diverse industry representatives for each agricultural commodity covered by quality loss adjustment during reviews
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Requires the Federal Crop Insurance Corporation to submit reports to the Senate and House Agriculture Committees after each review, detailing findings, procedural changes, and stakeholder engagement activities
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Establishes state or regional discount factors for soybeans during disaster declarations or salvage market conditions, reflecting average quality discounts applied to local or regional market prices
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Defines covered disasters to include Secretary disaster declarations, Presidential major disaster declarations under the Stafford Act, and Presidential emergency declarations
Legislative Description
Quality Loss Adjustment Improvement for Farmers Act
Agriculture and food
Last Action
Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
2/14/2025