Section 10304: Price Loss Coverage (PL

Section 10304: Price Loss Coverage (PLC)

This rule is about farmers getting help when crop prices drop too low.

🌽 Before:

Farmers had this help until the year 2023.

🌾 Now:

The help continues until 2031!

If prices go too low between now and 2031, the government will still help farmers with payments.

They changed some dates and math formulas to match more recent years (like updating price averages from 2012–2016to 2017–2021) so the help is more up to date.

Here's the original:

SEC. 10304. PRICE LOSS COVERAGE.
    Section 1116 of the Agricultural Act of 2014 (7 U.S.C. 9016) is 
amended--
        (1) in subsection (a)(2), in the matter preceding subparagraph 
    (A), by striking ``2023'' and inserting ``2031'';
        (2) in subsection (c)(1)(B)--
            (A) in the subparagraph heading, by striking ``2023'' and 
        inserting ``2031''; and
            (B) in the matter preceding clause (i), by striking 
        ``2023'' and inserting ``2031'';
        (3) in subsection (d), in the matter preceding paragraph (1), 
    by striking ``2025'' and inserting ``2031''; and
        (4) in subsection (g)--
            (A) by striking ``subparagraph (F) of section 1111(19)'' 
        and inserting ``paragraph (19)(A)(vi) of section 1111''; and
            (B) by striking ``2012 through 2016'' each place it appears 
        and inserting ``2017 through 2021''.

Comments

Post a Comment

Popular posts from this blog

Section 10313: Dairy Policy Updates

Image
🥛 Section 10313: Dairy Policy Updates — In Simple Terms This part of the law is about helping dairy farmers—the people who raise cows and sell milk. It makes some changes to how the government helps them through a program called Dairy Margin Coverage (DMC), which gives money to farmers when it costs more to make milk than they get paid for selling it. Here’s what the changes mean: 1. 🐄 Milk History Update Before, a farm’s help was based only on how much milk it sold the year it first signed up. Now, they can choose the year (2021, 2022, or 2023) when they sold the most milk to get more help. If a new farm just started, they can: • Either guess their full-year milk sales based on the milk they’ve already sold, • Or use the size of their herd (how many cows) to estimate how much milk they’ll make. 2. 💰 More Coverage Before, farmers got cheaper help for their first 5 million pounds of milk. Now, that’s raised to 6 million pounds, which means more milk gets better help. 3. 📉 Di...
Read more

Section 10503: Administrative and Operating Expense Adjustment

Image
🧾 Section 10503: Help for Insurance Companies That Help Farmers Farmers buy crop insurance to protect themselves if their crops are damaged by things like bad weather, pests, or disease. This law is about making sure the insurance companies that provide this protection get extra help too. 🪙 1. Extra Money for Doing More Work • Starting in 2026, insurance companies will get extra money (6% of the cost of the policy) to help pay for the people who check crop damage and figure out payments to farmers. 📍 2. Only Certain States and Policies This extra help only applies to: • States where lots of farmers lost crops (over 120% loss). • Normal insurance plans (not cheap emergency ones or group-based ones). • Policies where the company actually does work to check losses. 🍓 3. Support for Specialty Crops • Farmers who grow fruits, vegetables, and other special crops (not just big row crops like corn or wheat) also get better insurance help. • The insurance companies a...
Read more

Section 10502: Area-Based Crop Insurance Coverage and Affordability

Image
🧑‍🌾 Section 10502 – Helping Farmers Afford Better Insurance 1. Farmers buy insurance for their crops so they don’t lose everything if there’s bad weather or problems like drought. 2. This new rule says farmers can now get even more protection. The highest level of insurance they could buy before was less, but now: • Regular crop insurance can go up to 85% coverage. • If they combine different crops, they can get up to 90% coverage. • If they choose insurance based on their area’s average (like how the whole county is doing), they can get up to 95% coverage. 3. Before, the government helped pay for part of the insurance cost—now they will help even more! • The government used to help pay 65% of the cost. • Now, they’ll help pay 80%, so it’s cheaper for the farmer. 💡 In short: This section helps farmers buy better crop insurance by letting them protect more of their crops and by giving them more money to help pay for it. That way, they can worry less ab...
Read more