S. 1493

119 S1493 IS: Livestock Indemnity Program Improvement Act of 2025
 U.S. Senate
 2025-04-10
 text/xml
 EN
 Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain.
 II  119th CONGRESS  1st Session  S. 1493  IN THE SENATE OF THE UNITED STATES   April 10, 2025   Mr. Rounds  (for himself and  Mr. Bennet ) introduced the following bill; which was read twice and referred to the  Committee on Agriculture, Nutrition, and Forestry    A BILL
To require the Secretary of Agriculture to provide regular updates to Livestock Indemnity Program payment rates to reflect market prices, and for other purposes.
1.
Short title
This Act may be cited as the   Livestock Indemnity Program Improvement Act of 2025  .
2.
Livestock indemnity payments
Section 1501(b)(2) of the Agricultural Act of 2014 ( 7 U.S.C. 9081(b)(2) ) is amended—
(1)
by redesignating subparagraphs (A) and (B) as clauses (i) and (ii), respectively, and indenting appropriately;
(2)
in the matter preceding clause (i) (as so designated), by striking  Indemnity  and inserting the following:
(A)
In general
Indemnity
 ; and
(3)
by adding at the end the following:
(B)
Determination of market value
The Secretary shall determine the market value described in subparagraph (A)—
(i)
in coordination with the Administrator of the Agricultural Marketing Service;
(ii)
using other appropriate resources, as determined by the Secretary; and
(iii)
on a quarterly basis.
 .