Page:United States Statutes at Large Volume 114 Part 1.djvu/399

 PUBLIC LAW 106-224 -JUNE 20, 2000 114 STAT. 363 the recorded or appraised average)deld indemnified at not greater than 100 percent of the expected market price, or a comparable coverage for a poHcy or plan of insurance that is not based on individual yield, the amount shall be equal to the sum of— "(i) 38 percent of the amount of the premium established under subsection (d)(2)(B)(i) for the coverage level selected; and "(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover operating and administrative expenses.". (d) TEMPORARY PROHIBITION ON CONTINUOUS COVERAGE.—Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended by striking paragraph (4) and inserting the following: "(4) TEMPORARY PROHIBITION ON CONTINUOUS COVERAGE. — Notwithstanding paragraph (2), during each of the 2001 through 2005 reinsurance years, additional coverage under subsection (c) shall be available only in 5 percent increments beginning at 50 percent of the recorded or appraised average yield. ". (e) PREMIUM PAYMENT DISCLOSURE. —Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended by adding at the end the following: "(5) PREMIUM PAYMENT DISCLOSURE.—Each policy or plan of insurance under this title shall prominently indicate the dollar amount of the portion of the premium paid by the Corporation.". (f) CONFORMING AMENDMENT.— Section 508(g)(2)(D) of the Federal Crop Insurance Act (7 U.S.C. 1508(g)(2)(D)) is amended by striking "(as provided in subsection (e)(4))". SEC. 102. PREMIUM SCHEDULE FOR OTHER PLANS OF INSURANCE. (a) PREMIUM SCHEDULE. —Section 508(h) of the Federal Crop Insurance Act (7 U.S.C. 1508(h)) is amended— (1) in paragraph (2), by striking the second sentence; and (2) by striking paragraph (5) and inserting the following: "(5) PREMIUM SCHEDULE.— "(A) PAYMENT BY CORPORATION. — In the case of a policy or plan of insurance developed and approved under this subsection or section 522, or conducted under section 523 (other than a policy or plan of insurance applicable to livestock), the Corporation shall pay a portion of the premium of the policy or plan of insurance that is equal to— "(i) the percentage, specified in subsection (e) for a similar level of coverage, of the total amount of the premium used to define loss ratio; and "(ii) an amount for administrative and operating expenses determined in accordance with subsection (k)(4). "(B) TRANSITIONAL SCHEDULE.— Effective only during the 2001 reinsurance year, in the case of a policy or plan of insurance developed and approved under this subsection or section 522, or conducted under section 523 (other than a policy or plan of insurance applicable to livestock), and first approved by the Board after the date of the enactment of this subparagraph, the payment by the Corporation of

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