Page:United States Statutes at Large Volume 122.djvu/1397

 12 2 STA T . 1 374PUBLIC LA W 11 0– 234 —M A Y 22, 200 8(D)byred e signat ing cl a u ses (iii) , (i v ), and (v) as clauses (ii), (iii), and (iv), res p ectively ( E ) in clause (iii) (as s o redesignated), by stri k ing ‘ ‘ A policy or plan o f insurance ’ ’ and inserting ‘‘ C atastrop h ic risk protection coverage’’; and ( F ) in clause (iv) (as so redesignated) — (i) by striking ‘‘or other arrange m ent under this subparagraph’’; and (ii) by striking ‘‘additional’’ . (b) REP E AL .— S ection 748 of the Agriculture, Rural Develop - ment, Food and Drug Administration, and Related Agencies Appro- priations Act, 19 99 (7 U .S.C. 1 50 8 note; P ublic L a w 105 –2 77) is repealed. SEC.120 0 7 . TIM E FORPAY ME N T. Section 508 of the Federal Crop I nsurance Act (7 U.S.C. 1508) is amended— (1) in subsection (b)(5)(C), by striking ‘‘the date that pre- mium’’ and inserting ‘‘the same date on which the premium’’; (2) in subsection (c)(10), by adding at the end the following

‘‘(C) TIM E FOR PA Y ME NT .—Subsection (b)(5)(C) shall apply with respect to the collection date for the administra- tive fee.’’; and ( 3 ) in subsection (d), by adding at the end the following: ‘‘(4) B ILLIN GD ATE FOR PREMI U M S .—Effective beginning with the 2012 reinsurance year, the Corporation shall establish August 15 as the billing date for premiums.’’. SEC. 1200 8 . CATASTROP H IC CO V ERA G E REIM BU RSEMENT RATE. Section 508(b)(11) of the Federal Crop Insurance Act (7 U.S.C. 1508(b)(11)) is amended by striking ‘‘8 percent’’ and inserting ‘‘ 6 percent’’. SEC. 1200 9 . GRAIN SORGHUM PRICE E L ECTION. Section 508(c)(5) of the Federal Crop Insurance Act (7 U.S.C. 1508(c)(5)) is amended by adding at the end the following: ‘‘(D) G RAIN SORG H UM PRI C E ELECTION.— ‘‘(i) IN GENERAL.—The Corporation, in con j unction with the Secretary (referred to in this subparagraph as the ‘Corporation’), shall— ‘‘(I) not later than 60 days after the date of enactment of this subparagraph, make available all methods and data, including data from the Economic Research Service, used by the Corpora- tion to develop the e x pected market prices for grain sorghum under the production and revenue-based plans of insurance of the Corporation; and ‘‘(II) re q uest applicable data from the grain sorghum industry. ‘‘(ii) E X PERT RE V IE W ERS.— ‘‘(I) IN GENERAL.— N ot later than 120 days after the date of enactment of this subparagraph, the Corporation shall contract individually with 5 expert reviewers described in subclause (II) to develop and recommend a methodology for deter- mining an expected market price for sorghum for both the production and revenue-based plans of Contrac t s.De a dli nes.

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