Increased Crop Insurance Support and Extended Subsidies for Beginning Farmers.
This bill extends the eligibility period for special crop insurance subsidies for beginning farmers and ranchers from 5 to 10 years. It also increases the premium assistance provided during the critical initial years of operation. The goal is to reduce costs and enhance financial stability for new agricultural businesses.
Key points
The definition of a "beginning farmer or rancher" for insurance purposes is extended from 5 years to 10 years, ensuring longer access to benefits.
Premium assistance is significantly increased in the first two years of participation (15 percentage points greater than the standard subsidy), lowering initial operating costs.
Expired
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