Title: Government Sponsored Farm Insurance Policies
Vote Smart's Synopsis:
Vote to pass an amendment that would replace traditional farm subsidies with government sponsored insurance and establish preservation programs for certain environmentally sensitive lands.
Reduces direct subsidy payments to 25 percent of the traditional payment in the 2008 and 2009 crop years, to 20 percent in the 2010 and 2011 crop years, and eliminates direct payments for 2012.
Establishes supplemental insurance based on an area yield and loss basis in order to cover the crop loss not covered by the individual yield and loss insurance of a producer.
Requires the Federal Crop Insurance Corporation to offer an indemnity to individual producers of every commodity for which a futures price is available if the revenue or yield per acre in the producer's county is below 85 percent of the average revenue or yield for the county, at no cost to the producers.
Provides that the Federal Crop Insurance Corporation will offer a whole farm insurance indemnity for producers whose actual gross revenue is below 80 percent of the average gross revenue of that producer, at no cost to the producer.
Establishes a migratory bird habitat conservation program and provides funding for conservation of the greater Everglades ecosystem.
Provides funding and technical assistance to selected units of local government for conservation of forested land.