HR 8055 — Ensuring Access to Risk Management Act of 2024
Last action — Referred to the Subcommittee on Nutrition, Foreign Agriculture, and Horticulture.
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✓Introduced
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2In Committee
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3Passed House
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4Passed Senate
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5To Executive
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6Enacted
This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there are no live odds of enactment. It would have to be reintroduced in the current session to move again.
Summary
To amend the Federal Crop Insurance Act to establish a minimum rate of reimbursement for administrative and operating expenses with respect to crop insurance contracts covering specialty crops and to restore the annual inflation adjustment with respect to the general reimbursement rate for administrative and operating expenses.
Bill Text
- Introduced Introduced in House Current html April 17, 2024
Compared against current U.S. Code AI-generated reading aid — verify against the official bill.
The bill establishes a minimum reimbursement rate for administrative and operating expenses for crop insurance contracts covering specialty crops and restores an annual inflation adjustment to the general reimbursement rate.
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7 U.S.C. 1508(k)
(10) Specialty crops.-- (A) Minimum reimbursement.--Beginning with the 2022 reinsurance year and for each reinsurance year thereafter, the rate of reimbursement to approved insurance providers and agents for administrative and operating expenses with respect to crop insurance contracts covering agricultural commodities described in section 101 of title I of the Specialty Crops Competitiveness Act of 2004 (7 U.S.C. 1621 note) shall be equal to or greater than the percent that is the greater of the following: (i) 17 percent of the premium used to define loss ratio. (ii) The percent of the premium used to define loss ratio that is otherwise applicable for the reinsurance year under the terms of the Standard Reinsurance Agreement in effect for the reinsurance year. (B) Other contracts.--In carrying out subparagraph (A), the Corporation shall not reduce, with respect to any reinsurance year, the amount or the rate of reimbursement to approved insurance providers and agents under the Standard Reinsurance Agreement described in clause (ii) of such subparagraph for administrative and operating expenses with respect to contracts covering agricultural commodities that are not subject to such subparagraph as compared to what the amount or the rate of such reimbursement would be had this paragraph not been enacted. (C) Administration.--The requirements of this paragraph and the adjustments made pursuant to this paragraph shall not be considered a renegotiation under paragraph (8)(A).
This addition establishes a minimum reimbursement rate for specialty crops insurance contracts.
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7 U.S.C. 1508(k)
(11) Adjustment.-- (A) In general.--Beginning with the 2024 reinsurance year and for each reinsurance year thereafter, the Corporation shall increase the total administrative and operating expense reimbursements otherwise required under the Standard Reinsurance Agreement described in paragraph (10)(A)(ii) in order to account for inflation in a manner that is consistent with the increases provided with respect to the 2011 through 2015 reinsurance years under the enclosure, included in the Risk Management Agency's Bulletin, MGR-10-007, dated June 30, 2010. (B) Administration.--The increase described in subparagraph (A) shall-- (i) apply with respect to all contracts covering agricultural commodities that were subject to an increase during the period of the 2011 through 2015 reinsurance years under the enclosure described in such subparagraph; (ii) not be considered a renegotiation under paragraph (8); and (iii) from one reinsurance year to an immediately following reinsurance year, not exceed the applicable annual percentage increase in the Consumer Price Index for All Urban Consumers.
This addition allows for annual inflation adjustments to administrative and operating expense reimbursements starting from 2024.
Action History
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Referred to the Subcommittee on Nutrition, Foreign Agriculture, and Horticulture.
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Referred to the Subcommittee on General Farm Commodities, Risk Management, and Credit.
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Referred to the House Committee on Agriculture.
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Introduced in House
Sponsors
- Austin Scott · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
- Scott, Austin Republican
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does HR 8055 do?
- To amend the Federal Crop Insurance Act to establish a minimum rate of reimbursement for administrative and operating expenses with respect to crop insurance contracts covering specialty crops and to restore the annual inflation adjustment with respect to the general reimbursement rate for administrative and operating expenses.
- Who sponsors HR 8055?
- HR 8055 is sponsored by Scott, Austin (Republican).
- What is the current status of HR 8055?
- This bill died with 118th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track HR 8055?
- Track HR 8055 free on One Click Politics — get push/email alerts when it moves.
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Last checked for changes 2 months ago · updated continuously
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