TEMP Act
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To President
- Became Law
Overview
This bill aims to improve crop insurance by encouraging the federal government to research and develop a new type of insurance policy that protects farmers from losses due to frost or cold weather. The proposed ‘TEMP Act’ would direct the Federal Crop Insurance Corporation to create an index-based insurance policy, meaning payments would be automatically triggered based on a nationwide temperature index rather than individual farmer claims. This research is intended to cover a range of crops, including tomatoes, strawberries, and citrus, and provide protection against either production loss or revenue loss.
Key provisions
- Directs the Federal Crop Insurance Corporation to research and develop an index-based frost/cold weather insurance policy.
- The policy will be available nationally.
- The policy can provide protection against production loss or revenue loss.
- Research must evaluate the effectiveness of risk management tools, particularly for low-frequency, catastrophic events.
- The Corporation must submit a report to Congress detailing the research findings and recommendations within a year.
Who is affected
- Farmers
- Crop Insurance Companies
- Agricultural Industry
- House of Representatives Agriculture Committee
- Senate Agriculture, Nutrition, and Forestry Committee
Notable changes
- Introduces a new type of insurance policy – an index-based system – rather than relying on individual farmer claims.
Bill text
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Sponsors
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21 on record
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