S.1117 - Quality Loss Adjustment Improvement for Farmers Act (119th Congress)
Summary
S.1117, the Quality Loss Adjustment Improvement for Farmers Act, aims to amend the Federal Crop Insurance Act to improve quality loss adjustment coverage for farmers. The bill mandates periodic reviews of the Corporation's quality loss adjustment procedures, stakeholder engagement in these reviews, and reporting of findings to relevant congressional committees. It also addresses regional discount factors for soybeans in the event of disasters or salvage markets.
Expected Effects
The bill will likely lead to more frequent and comprehensive reviews of crop insurance quality loss adjustment procedures. This could result in more accurate and fair compensation for farmers who experience quality losses. The establishment of regional discount factors for soybeans may provide more targeted support in disaster situations.
Potential Benefits
- Enhanced accuracy in quality loss adjustments for crop insurance.
- Increased transparency through stakeholder engagement and reporting.
- More responsive adjustments to regional market conditions for soybeans.
- Regular reviews ensure procedures remain up-to-date.
- Could lead to greater farmer participation in crop insurance programs.
Potential Disadvantages
- Increased administrative burden due to more frequent reviews and reporting.
- Potential for disputes over the establishment and application of regional discount factors.
- Costs associated with contracting qualified persons to conduct reviews.
- The benefits may be unevenly distributed depending on the specific agricultural commodity and region.
- Possible delays in implementation due to the complexity of the review process.
Constitutional Alignment
The bill aligns with the General Welfare Clause of the Constitution, as it aims to support farmers and ensure a stable food supply. Congress's authority to regulate interstate commerce (Article I, Section 8) provides a basis for federal crop insurance programs. The bill does not appear to infringe upon any specific constitutional rights or limitations.
Impact Assessment: Things You Care About ⓘ
This action has been evaluated across 19 key areas that matter to you. Scores range from 1 (highly disadvantageous) to 5 (highly beneficial).