Page:United States Statutes at Large Volume 122.djvu/2163

 12 2 STA T . 21 40PUBLIC LA W 110 – 24 6—J U NE 1 8, 2008 ‘ ‘ (i)51perc e ntof t h e am o u nt of the premium e s ta b-l ishe d under subsection (d)( 2 )( B )(i) for the co v era g e level selected and ‘‘(ii) the amount determined under subsection (d)(2)(B)(ii) for the coverage level selected to cover oper- ating and administrative e x penses .’ ’. SEC.120 1 3 . D E NIALOF CLAI M S. S ection 5 08 ( j )(2)( A ) of the F ederal C rop I nsurance Act ( 7U .S.C. 1508(j)(2)(A)) is amended b y inserting ‘‘on behalf of the Corporation’’ after ‘‘approved provider’’. SEC. 1201 4 . SE T TLEMENT OF C R O P INS U RANCE CLAIMS ON FARM - STORED PRODUCTION. (a) I NGE NE RAL . — Section 508(j) of the Federal Crop Insurance Act (7 U.S.C. 1508(j)) is amended by adding at the end the follo w ing

‘‘(5) SE T TLE M ENT OFC LA I M S ON FARM-STORE DP ROD U C- TION.—A producer with farm-stored production may , at the option of the producer, delay settlement of a crop insurance claim relating to the farm-stored production for up to 4 months after the last date on which claims may be submitted under the policy of insurance.’’. (b) STUD Y ONT H E E FFICACY OF P AC K FACTORS.— (1) IN G ENERAL.— T he Secretary shall conduct a study of the efficacy and accuracy of the application of pac k factors regarding the measurement of farm-stored production for pur- poses of providing policies or plans of insurance under the Federal Crop Insurance Act (7 U.S.C. 1501 et se q .). (2) CONSIDERATIONS.—The study shall consider— (A) structural shape and si z e; (B) time in storage; (C) the impact of facility aeration systems; and ( D ) any other factors the Secretary considers appro- priate. ( 3 ) R EPORT.— N ot later than 3 years after the date of enact- ment of this Act, the Secretary shall submit to the Committee on Agriculture of the H ouse of Representatives and the Com- mittee on Agriculture, Nutrition, and Forestry of the Senate a report that includes the findings of the study and any related policy recommendations. SEC. 1201 5 . TIME FOR REIM B URSEMENT. 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: ‘‘(D) TIME FOR REIM B URSEMENT.—Effective beginning with the 2012 reinsurance year, the Corporation shall reimburse approved insurance providers and agents for the allowable administrative and operating costs of the providers and agents as soon as practicable after O ctober 1 (but not later than October 31) after the reinsurance year for which reimbursements are earned.’’. SEC. 1201 6 . REIMBURSEMENT RATE. Section 508(k)(4) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(4)) (as amended by section 12015) is amended— (1) in subparagraph (A), by striking ‘‘Except as provided in subparagraph (B)’’ and inserting ‘‘Except as otherwise pro- vided in this paragraph’’; and

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