This bill requires the Federal Crop Insurance Corporation to revise how it pays administrative and operating subsidies to insurance companies and agents selling crop insurance policies, with the goal of making payments fairer across different farm sizes. Under the new terms, subsidies would have a minimum and maximum amount per policyholder with the maximum being no more than four times the minimum, and payments would be based on policy complexity rather than premium size. The bill also includes 10 percent bonus payments for small farms under 180 acres, farms growing specialty crops without crop-specific insurance options, and first-time crop insurance buyers. The changes are intended to be budget-neutral overall, and the bill requires the Department of Agriculture to publicly release detailed data annually about subsidy payments organized by state, commodity type, and farm characteristics. Within one year of enactment, the Government Accountability Office must report on the federal crop insurance program's structure and recommend reforms based on standard insurance and market principles.
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