Page:United States Statutes at Large Volume 114 Part 1.djvu/400

 114 STAT. 364 PUBLIC LAW 106-224-JUNE 20, 2000 a portion of the premium of the poUcy may not exceed the dollar amount that would otherwise be authorized under subsection (e) (consistent with subsection (c)(5), as in effect on the day before the date of the enactment of this subparagraph).", (b) REIMBURSEMENT RATE.— Section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(4)) is amended by adding at the end the following: "(C) OTHER REDUCTIONS.—Beginning with the 2002 reinsurance year, in the case of a policy or plan of insurance approved by the Board that was not reinsured during the 1998 reinsurance year but, had it been reinsured, would have received a reduced rate of reimbursement during the 1998 reinsurance year, the rate of reimbursement for administrative and operating costs established for the policy or plan of insurance shall take into account the factors used to determine the rate of reimbursement for administrative and operating costs during the 1998 reinsurance year, including the expected difference in premium and actual administrative and operating costs of the policy or plan of insurance relative to an individual yield policy or plan of insurance and other appropriate factors, as determined by the Corporation.". SEC. 103. CATASTROPHIC RISK PROTECTION. (a) ALTERNATIVE COVERAGE.— Section 508(b) of the Federal Crop Insurance Act (7 U.S.C. 1508(b)) is amended by striking paragraph (3) and inserting the following: "(3) ALTERNATIVE CATASTROPHIC COVERAGE.—Beginning with the 2001 crop year, the Corporation shall offer producers of an agriculturgJ commodity the option of selecting either of the following: "(A) The catastrophic risk protection coverage available under paragraph (2)(A). "(B) An gdtemative catastrophic risk protection coverage that— "(i) indemnifies the producer on an area yield and loss basis if such a policy or plan of insurance is offered for the agricultural commodity in the county in which the farm is located; "(ii) provides, on a uniform national basis, a higher combination of yield and price protection than the coverage available under paragraph (2)(A); and "(iii) the Corporation determines is comparable to the coverage available under paragraph (2)(A) for purposes of subsection (e)(2)(A).". (b) ADMINISTRATIVE FEE.— (1) REVISED FEE. —Section 508(b)(5) of the Federal Crop Insurance Act (7 U.S.C. 1508(b)(5)) is amended— (A) in subparagraph (A), by striking "$50" and inserting "$100"; (B) by striking subparagraph (B); and (C) in subparagraph (C), by striking "amounts required under subparagraphs (A) and (B)" and inserting "administrative fee required by this paragraph". (2) CONFORMING AMENDMENT.— Section 748 of the Agriculture, Rural Development, Food and Drug Administration,

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