Quality Loss Adjustment Improvement for Farmers Act

House Votes

This bill updates federal crop insurance rules for when crops lose value because of lower quality. It tells the Federal Crop Insurance Corporation to review and update its “quality loss” rules every five years starting in 2025, finish each review within a year, listen to a mix of stakeholders from different regions for each crop, and issue a report on what changed and why. The FCIC runs the federal crop insurance program that helps farmers buy insurance against losses, including quality losses, with help from federal premium subsidies.

For soybeans, when there’s a disaster or emergency declaration, or when soybeans are only fit for a salvage market, the FCIC must set a state or regional “discount factor.” This factor is meant to match the average local price cuts soybean growers face in those tough conditions, and it must be included in the regular reviews and reports.

• Who is affected: Farmers with federal crop insurance, especially soybean growers; regional farm and industry stakeholders; the FCIC .
• What changes: Regular five-year reviews with regional input; public reporting on updates; and a required local discount factor for soybeans after disasters or salvage markets .
• When: Reviews begin in 2025 and repeat every five years; the soybean discount factor applies when a disaster or emergency is declared or a salvage market occurs .