An AI model extracted this from the bill’s official record and can make mistakes. Check the official text ↗ (opens in new tab)

Federal Crop Insurance Act

A law that established the federal program to help farmers manage financial risks associated with crop losses due to natural disasters, pests, or disease.

Quality Loss Adjustment (QLA)

A feature of federal crop insurance that provides payments to farmers when their harvested crops are lower in quality than expected, leading to reduced market value, even if the quantity of the harvest is not significantly reduced.

The Corporation

Refers to the Federal Crop Insurance Corporation (FCIC), a government-owned corporation within the U.S. Department of Agriculture that manages the federal crop insurance program, typically through the Risk Management Agency (RMA).

Stakeholder engagement

The process of involving and consulting with individuals or groups who have an interest in or are affected by a particular issue, in this case, agricultural producers, industry representatives, and experts.

Regional discount factor

A specific adjustment or multiplier applied to crop insurance payments in a particular geographic area (state or region) to accurately reflect the average price reductions that farmers experience for lower-quality crops in their local market, especially during adverse events.

Covered declaration

A formal announcement by the Secretary of Agriculture or the President indicating a disaster or emergency in a specific area, which often triggers access to certain federal relief or assistance programs.