Page:United States Statutes at Large Volume 114 Part 1.djvu/421

 PUBLIC LAW 106-224-^JUNE 20, 2000 114 STAT. 385 "(3) PURPOSE OF PROGRAMS. — To the maximum extent practicable, the Corporation shall evaluate the greatest number and variety of pilot programs described in paragraph (2) to determine which of the offered risk management tools are best suited to protect livestock producers from the financial risks associated with the production and marketing of livestock. "(4) TIMING. —The Corporation shall begin conducting livestock pilot programs under this subsection during fiscal year 2001. "(5) RELATION TO OTHER LIMITATIONS.— Any policy or plan of insurance offered under this subsection may be prepared without regard to the limitations of this title. "(6) ASSISTANCE. —As part of a pilot program under this subsection, the Corporation may provide reinsurance for policies or plsins of insurance and subsidize the purchase of futures and options contracts or policies and plans of insurance offered under the pilot program. "(7) PRIVATE INSURANCE. —No action may be undertaken with respect to a risk under this subsection if the Corporation determines that insurance protection for livestock producers against the risk is generally available from private companies. "(8) LOCATION.— The Corporation shall conduct the livestock pilot programs under this subsection in a number of counties that is determined by the Corporation to be adequate to provide a comprehensive evgduation of the feasibility, effectiveness, and demand among producers for the risk management tools evaluated in the pilot programs. "(9) ELIGIBLE PRODUCERS. —Any producer of a type of livestock covered by a pilot program under this subsection that owns or operates a farm or ranch in a county selected as a location for that pilot program shall be eligible to participate in that pilot program. "(10) LIMITATION ON EXPENDITURES.—The Corporation shall conduct all livestock programs under this title so that, to the maximum extent practicable, all costs associated with conducting the livestock programs (other than research and development costs covered by section 522) are not expected to exceed the following: "(A) $10,000,000 for each of fiscal years 2001 and 2002. "(B) $15,000,000 for fiscal year 2003. "(C) $20,000,000 for fiscal year 2004 and each subsequent fiscal year. " (c) REVENUE INSURANCE PILOT PROGRAM.— "(1) IN GENERAL.— Subject to section 522(e)(4), the Secretary shall carry out a pilot program in a limited number of counties, as determined by the Secretary, for crop years 1997 through 2001, under which a producer of wheat, feed grains, soybeans, or such other commodity as the Secretary considers appropriate may elect to receive insurance against loss of revenue, as determined by the Secretary. "(2) ADMINISTRATION. —Revenue insurance under this subsection shall— "(A) be offered through reinsurance arrangements with private insurance companies; "(B) offer at least a minimum level of coverage that is an alternative to catastrophic crop insurance; "(C) be actuarially sound; and

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