AFFIRM Act of 2026

This Act may be cited as the Assisting Family Farmers through Insurance Reform Measures Act of 2026 or the AFFIRM Act of 2026.
Section 502(c)(2) of the Federal Crop Insurance Act (7 U.S.C. 1502(c)(2)) is amended—
by redesignating subparagraphs (A) and (B) as subparagraphs (C) and (D), respectively; and
by inserting before subparagraph (C) (as so redesignated) the following:
Notwithstanding paragraph (1) or any other provision of law, except as provided in subparagraph (B), the Secretary shall on an annual basis make available to the public—
the name of each individual or entity that obtained a federally subsidized crop insurance, livestock, or forage policy or plan of insurance during the previous reinsurance year;
the amount of premium subsidy received by the individual or entity from the Corporation; and
the amount of any Federal portion of indemnities paid in the event of a loss for that reinsurance year for each policy associated with that individual or entity; and
for each private insurance provider, a description by the name of the private insurance provider of—
the underwriting gains earned through participation in the federally subsidized crop insurance program; and
the amount paid under this subtitle for—
administrative and operating expenses;
any Federal portion of indemnities and reinsurance; and
any other purpose.
The Secretary shall not disclose under subparagraph (A) information relating to individuals and entities covered by a catastrophic risk protection plan offered under section 508(b).
Section 508(e)(1) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)(1)) is amended—
by striking For the purpose and inserting the following:
Subject to subparagraphs (B) and (C), for the purpose
by adding at the end the following:
The Corporation shall not pay a part of the premium for additional coverage for any person or legal entity that has an average adjusted gross income (as defined in section 1001D(a) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(a))) that is greater than $250,000.
The Corporation shall not pay more than $40,000 for any reinsurance year to any person or legal entity for premiums under this section.
Section 508(e) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)) is amended by adding at the end the following:
Notwithstanding any other provision of law, beginning with the 2027 reinsurance year, the Corporation shall not pay any amount of premium subsidy in the case of a policy or plan of insurance that is based on the actual market price of an agricultural commodity on the date of harvest.
Section 508(k)(3) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(3)) is amended—
by striking the paragraph designation and heading and all that follows through The and inserting the following:
The
by adding at the end the following:
The target average rate of return for reinsured companies for the 2027 reinsurance year and each subsequent reinsurance year shall be 8.9 percent of retained premiums.
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:
Notwithstanding subparagraphs (A) through (F), the total amount of reimbursements for administrative and operating costs for the 2027 reinsurance year for all types of policies and plans of insurance shall not exceed $900,000,000.
For the 2028 reinsurance year and each subsequent reinsurance year, the dollar amount in effect pursuant to clause (i) shall be increased by the inflation factor established for the administrative and operating costs limitation in the 2011 Standard Reinsurance Agreement.
Section 508(k)(8) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(8)) is amended by striking subparagraph (F).