Page:United States Statutes at Large Volume 114 Part 1.djvu/417

 PUBLIC LAW 106-224 -^JUNE 20, 2000 114 STAT. 381 shall be eligible to enter into a contract with the Corporation under this subsection. "(4) TYPES OF CONTRACTS.— ^A contract under this subsection may provide for research and development regarding new or expanded policies, including policies based on adjusted gross income, cost-of-production, quality losses, and an intermediate base program with a higher coverage and cost than catastrophic risk protection. "(5) USE OF RESULTING POLICIES. —The Corporation may offer any policy developed under this subsection that is approved by the Board. "(6) RESEARCH AND DEVELOPMENT PRIORITIES.— The Corporation shall establish as one of the highest research and development priorities of the Corporation the development of a pasture, range, and forage program. "(7) STUDY OF MULTIYEAR COVERAGE. — "(A) IN GENERAL.— The Corporation shall contract with a qualified person to conduct a study to determine whether offering policies that provide coverage for multiple years would reduce fraud, waste, and abuse by persons that participate in the Federal crop insurance progremi. "(B) REPORT. — Not later than 1 year after the date Deadline. of the enactment of this section, the Corporation shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that describes the results of the study conducted under subparagraph (A). "(8) CONTRACT FOR REVENUE COVERAGE PLANS.— The Corporation shall enter into a contract for research and development regarding one or more revenue coverage plans that are designed to enable producers to take maximum advantage of fluctuations in market prices and thereby maximize revenue realized from the sale of an agricultural commodity. A revenue coverage plan may include the use of existing market instruments or the development of new market instruments. Not later than 15 months after the date of the enactment Deadline. of this section, the Corporation shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that describes the results of the contract entered into under this paragraph. " (9) CONTRACT FOR COST OF PRODUCTION POLICY.— "(A) AUTHORITY.— The Corporation shall enter into a contract for research and development regarding a cost of production policy. " (B) RESEARCH AND DEVELOPMENT.—The research and development shall— "(i) take into consideration the differences in the cost of production on a county-by-county basis; and "(ii) cover as many commodities as is practicable. "(10) RELATION TO LIMITATIONS.—^A policy developed under this subsection may be prepared without regard to the limitations of this title, including— "(A) the requirement concerning the levels of coverage and rates; and 79-194O-00 -14:QL3Part1

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