Page:United States Statutes at Large Volume 107 Part 1.djvu/360

 107 STAT. 334 PUBLIC LAW 103-66 —AUG. 10, 1993 (2) AREA YIELD PLAN.—Section 508 of such Act (7 U.S.C. 1508) is amended by adding at the end the following new subsection: "(n) AREA YIELD PLAN.— "(1) IN GENERAL.—Notwithstanding any other provision of this title, the Corporation may ofTer, only as an option to individual crop insurance coverage available under this Act, a crop insurance plan based on an area yield that allows an insured producer to qualify for an indemnity if a loss has occiured in an area, as specified by the Corporation, in which the farm of the producer is located. "(2) LEVEL OF COVERAGE. —Under a plan offered under paragraph (1), an insured producer shall be allowed to select the level of production at which an indemnity will be paid consistent with terms and conditions established by the Corporation.". (3) YIELD COVERAGE. —Section 508A of such Act (7 U.S.C. 1508a) is amended— (A) in subsection (a)(1), by striking "may and inserting "shall"; and (B) in subsection (b)— (i) in paragraph (I)(A)— (I) by striking **A crop insurance contract" and all that follows through "producer—" and inserting "Under regulations issued by the Corporation, a crop insurance contract offered under this title to an eligible insured producer of a commodity with respect to which the Corporation provides crop insurance coverage shall make available to the producer either—"; (II) by striking "or" at the end of clause (i); (III) in clause (ii)— (aa) by striking "5" and inserting "4 building to 10"; and (bb) by striking the period at the end and inserting; or"; and (IV) by adding at the end the following new clause: "(iii) yield coverage based on— "(I) not less than 65 percent of the transitional yield of the producer (adjusted to reflect actual experience), as specified in regulations issued by the Corporation based on production history requirements; or "(II) the area yield under section 508(n) for the crop established under the program for the commodity involved."; (ii) in paragraph (I)(B)— (I) by striking "two" and inserting "3"; and (II) by inserting after "subparagraph (A)" the following: ", where available (as determined by the Corporation),"; (iii) in paragraph (2)— (I) by striking "5" and inserting "4 building to 10"; and (II) by inserting after "previous crops," the following: "not less man 65 percent of the transi-

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