USDA finalizes insurance provisions of 2014 farm bill

USDA finalizes insurance provisions of 2014 farm bill

More than 350 comments received on interim rule.

USDA’s Risk Management Agency today announced that the final safety net provisions of the 2014 Farm Bill, which provide farmers and ranchers protection from weather disasters, market volatility and other risk factors, are now in place.

With this announcement, RMA has finalized an interim rule that completes provisions such as enterprise units for irrigated and non-irrigated crops, adjustment in actual production history to establish insurable yields, crop production on native sod, beginning farmer and rancher provisions, coverage levels by practice, and the authority to correct errors.

USDA’s Risk Management Agency today announced that the final safety net provisions of the 2014 Farm Bill are now in place. (Photo: Blankstock/Thinkstock)

“The Farm Bill directed us to make some changes that would strengthen the safety net we provide for America’s farmers and ranchers,” RMA Administrator Brandon Willis said. “These safety net options will help ensure that America’s hard working farmers and ranchers, and their families are able to better manage risks so that they can continue to farm even after years of severe weather.”

RMA began implementing the provisions under an interim rule for the 2015 crop year. Today’s action enables RMA to continue to offer and expand on the Farm Bill provisions for the federal crop insurance program.

USDA received more than 350 public comments on the interim rule published July 1, 2014. Based on that feedback, RMA made changes to one part of the rule –the native sod provisions. The final rule clarifies an exception that allows producers to break up to five acres of native sod and not receive reduced premium subsidy on coverage of native sod acreage. All other provisions of the final rule remain unchanged.

A copy of the final rule goes on display today at the Federal Register and will be  published tomorrow, June 30 at https://www.federalregister.gov/

Source: USDA RMA

TAGS: USDA
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