What does Preamble of AFFIRM Act of 2026 do?

This bill proposes to amend the Federal Crop Insurance Act. The stated purpose of the bill is to reduce Federal spending on crop insurance.

What does SHORT TITLE. of AFFIRM Act of 2026 do?

This bill is formally titled the Assisting Family Farmers through Insurance Reform Measures Act of 2026.

What does CROP INSURANCE PREMIUM SUBSIDIES DISCLOSURE IN THE PUBLIC of AFFIRM Act of 2026 do?

This section amends Section 502(c)(2) of the Federal Crop Insurance Act. It requires the Secretary to annually disclose information to the public regarding federally subsidized crop insurance, livestock, or forage policies. The disclosed information includes the name of individuals or entities receiving subsidies, the amount of premium subsidies received, and the amount of Federal indemnities paid. It also requires disclosure of underwriting gains and expenses for each private insurance provider participating in the program. Information relating to individuals and entities covered by catastrophic risk protection plans is exempt from disclosure.

What does ADJUSTED GROSS INCOME AND PER PERSON LIMITATIONS ON SHARE OF of AFFIRM Act of 2026 do?

This section amends Section 508(e)(1) of the Federal Crop Insurance Act. The amendment introduces an adjusted gross income limitation, preventing the Corporation from paying premiums for individuals or legal entities with an average adjusted gross income exceeding $250,000. The amendment also establishes a per-person premium limitation, capping the Corporation's premium payments at $40,000 per reinsurance year for any individual or legal entity. The adjusted gross income is defined as in section 1001D(a) of the Food Security Act of 1985 (7 U.S.C. 1308-3a(a)).

What does PROHIBITION ON PREMIUM SUBSIDY FOR HARVEST PRICE POLICIES. of AFFIRM Act of 2026 do?

This section amends Section 508(e) of the Federal Crop Insurance Act. Beginning with the 2027 reinsurance year, premium subsidies will not be paid for crop insurance policies based on the actual market price of an agricultural commodity at harvest. This prohibition applies regardless of any other provision of law.

What does CAP ON OVERALL RATE OF RETURN FOR CROP INSURANCE PROVIDERS. of AFFIRM Act of 2026 do?

This section amends Section 508(k)(3) of the Federal Crop Insurance Act. The amendment redefines a subsection regarding risk. It establishes a limitation on the average rate of return for reinsured companies. The target average rate of return is set at 8.9 percent of retained premiums. This limitation applies to the 2027 reinsurance year and subsequent years.

What does CAP ON REIMBURSEMENTS FOR ADMINISTRATIVE AND OPERATING EXPENSES of AFFIRM Act of 2026 do?

This section amends Section 508(k)(4) of the Federal Crop Insurance Act. It establishes a cap of $900,000,000 on reimbursements for administrative and operating costs for crop insurance providers for the 2027 reinsurance year. For subsequent reinsurance years (2028 and beyond), this dollar amount will be adjusted by the inflation factor established for administrative and operating costs in the 2011 Standard Reinsurance Agreement.

What does RENEGOTIATION OF STANDARD REINSURANCE AGREEMENT. of AFFIRM Act of 2026 do?

This section amends Section 508(k)(8) of the Federal Crop Insurance Act. Specifically, it removes subparagraph (F) from that section.

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AFFIRM Act of 2026

Last updated: 3/26/2026 · Introduced: 3/26/2026

Author: Jeanne Shaheen (D-NH)

TL;DR (AI)

This bill mandates annual public disclosure of information related to federally subsidized crop insurance, including subsidy recipients and amounts, while exempting catastrophic risk protection plan data.
The bill establishes income and premium limitations for crop insurance premium subsidies, preventing payments to individuals or entities with an average adjusted gross income exceeding $250,000 or receiving more than $40,000 in premium payments per reinsurance year.
Crop insurance providers will face limitations on their average rate of return (capped at 8.9% of retained premiums) and reimbursements for administrative and operating expenses (initially capped at $900 million, adjusted for inflation).

119th Congressin committeeOfficial page

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Other Sections

Includes provisions on preamble, short title., and 6 more.

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