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Crop Insurance for Future Farmers Act
4/9/2025, 3:53 AM
Summary of Bill S 1073
One of the key provisions of the bill is to provide incentives for beginning farmers and ranchers to participate in crop insurance programs. This includes reducing the cost of premiums for these individuals, as well as providing additional resources and technical assistance to help them navigate the complexities of the insurance system.
Additionally, the bill aims to improve access to crop insurance for veteran farmers and ranchers, who may face unique challenges due to their military service. This includes providing targeted outreach and education programs to help veterans understand and enroll in crop insurance programs. Overall, the Beginning Farmer and Rancher Opportunity Act of 2021 seeks to level the playing field for new and veteran farmers and ranchers, ensuring that they have the support they need to succeed in the agricultural industry. By promoting crop insurance support for these groups, the bill aims to encourage more individuals to pursue careers in farming and ranching, ultimately strengthening the agricultural sector in the United States.
Congressional Summary of S 1073
Crop Insurance for Future Farmers Act
This bill amends the federal crop insurance program (FCIP) to increase the premium assistance rate for beginning and veteran farmers or ranchers. (FCIP offers subsidized crop insurance policies that producers can purchase to cover a wide variety of crops and livestock.)
Specifically, the bill amends the amount of percentage points that are added to the premium assistance rate for beginning farmers or ranchers and veteran farmers or ranchers for an applicable insurance policy or plan (currently 10 percentage points) to provide
- 15 percentage points in each of the 1st and 2nd reinsurance years,
- 13 percentage points in the 3rd year,
- 11 percentage points in the 4th year, and
- 10 percentage points in each of the 5th through the 10th reinsurance years.
Under the bill, farmers and ranchers, and veteran farmers and ranchers, are eligible to qualify for the program for 10 years, an increase from 5 years under current law. Specifically, to be considered a beginning farmer or rancher, a person must not have actively operated and managed a farm or ranch for more than 10 crop years. To be considered a veteran farmer or rancher, a veteran must have (1) not operated a farm or ranch for more than 10 crop years, or (2) first obtained veteran status in the past 10 years.
