Page:United States Statutes at Large Volume 114 Part 1.djvu/432

 114 STAT. 396 PUBLIC LAW 106-224 —JUNE 20, 2000 (1) farmer-owned cooperatives play a valuable role in achieving the purposes of the Federal Crop Insurance Act (7 U.S.C. 1501 et seq.) by— (A) encouraging producer participation in the Federal crop insurance program; (B) improving the delivery system for crop insurance; and (C) helping to develop new and improved insurance products; (2) the Risk Management Agency, through its regulatory activities, should encourage efforts by farmer-owned cooperatives to promote appropriate risk management strategies among their membership; (3) partnerships between approved insurance providers and farmer-owned cooperatives provide opportunity for agricultural producers to obtain needed insurance coverage on a more competitive basis and at a lower cost; (4) the Risk Management Agency is following an appropriate regulatory process to ensure the continued participation by farmer-owned cooperatives in the delivery of crop insurance; (5) efforts by the Risk Management Agency to finalize regulations that would incorporate the currently approved business practices of cooperatives participating in the Federed crop insurance program should be commended; and Deadline. (6) not later than 180 days after the date of the enactment of this Act, the Federal Crop Insurance Corporation should complete promulgation of the proposed rule entitled "General Administrative Regulations; Premium Reductions; Payment of Rebates, Dividends, and Patronage Refunds; and Payments to Insured-Owned and Record-Controlling Entities", published by the Federal Crop Insurance Corporation on May 12, 1999 (64 Fed. Reg. 25464), in a manner that— (A) effectively responds to comments received from the public during the rulemaking process; (B) provides an effective opportunity for farmer-owned cooperatives to assist the members of the cooperatives to obtain crop insurance and pgirticipate most effectively in the FederaJ crop insurance program; (C) incorporates the currently approved business practices of farmer-owned cooperatives peirticipating in the Federal crop insurance program; and (D) protects the interests of agricultural producers. SEC. 165. SENSE OF THE CONGRESS ON RURAL AMERICA, INCLUDING MINORITY AND LIMITED-RESOURCE FARMERS. It is the sense of the Congress that— (1) rural America, including minority and limited resource farmers, has not experienced this recent period of economic prosperity; (2) as a result of sustained low commodity prices, they face significant challenges, including— (A) a depressed farm economy; (B) a loss of business and jobs on rural main streets; (C) a reduction of capital investment; and (D) a loss of independent farmers; (3) Congress applauds Americ8in fsirmers and rural advocates, including the organizers of the Rally for Rural America,

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