7 USC 1516 - Funding

U.S Code last checked for updates: Nov 22, 2024

§ 1516.

Funding

(a)

Authorization of appropriations

(1)

Discretionary expenses

(2)

Mandatory expenses

There are authorized to be appropriated such sums as are necessary to cover for each of the 1999 and subsequent reinsurance years the following:

(A)

The administrative and operating expenses of the Corporation for the sales commissions of agents.

(B)

Premium subsidies, including the administrative and operating expenses of an approved insurance provider for the delivery of policies with additional coverage.

(C)

Costs associated with the conduct of livestock and wild salmon pilot programs carried out under section 1523 of this title, subject to the limitations in subsection (a)(3)(E)(ii) of that section.

(D)

Costs associated with the reimbursement, contracting, and partnerships for research and development under section 1522 of this title.

(b)

Payment of Corporation expenses from insurance fund

(1)

Expenses generally

For each of the 1999 and subsequent reinsurance years, the Corporation may pay from the insurance fund established under subsection (c) all expenses of the Corporation (other than expenses covered by subsection (a)(1) and expenses covered by paragraph (2)(A)), including the following:

(A)

Premium subsidies and indemnities.

(B)

Administrative and operating expenses of the Corporation necessary to pay the sales commissions of agents.

(C)

All administrative and operating expense reimbursements due under a reinsurance agreement with an approved insurance provider.

(D)

Costs associated with the conduct of livestock and wild salmon pilot programs carried out under section 1523 of this title, subject to the limitations in subsection (a)(3)(E)(ii) of that section.

(E)

Costs associated with the reimbursement, contracting, and partnerships for research and development under section 1522 of this title.

(2)

Policy consideration and implementation

(A)

In general

For each of the 1999 and subsequent reinsurance years, the Corporation may use the insurance fund established under subsection (c), but not to exceed $3,500,000 for each fiscal year, to pay the following:

(i)

Costs associated with the consideration and implementation of policies, plans of insurance, and related materials submitted under section 1508(h) of this title or developed under section 1522 or 1523 of this title.

(ii)

Costs to contract for the review of policies, plans of insurance, and related materials under section 1505(e) of this title and to contract for other assistance in considering policies, plans of insurance, and related materials.

(B)

Dairy options pilot program

(C)

Reviews, compliance, and integrity

(i)

In general

For each of the 2014 and subsequent reinsurance years, the Corporation may use the insurance fund established under subsection (c), but not to exceed $7,000,000 for each fiscal year, to pay costs—

(I)

to reimburse expenses incurred for the operations and review of policies, plans of insurance, and related materials (including actuarial and related information); and

(II)

to assist the Corporation in maintaining program actuarial soundness and financial integrity.

(ii)

Secretarial action

For the purposes described in clause (i), the Secretary may, without further appropriation—

(I)

merge some or all of the funds made available under this subparagraph into the accounts of the Risk Management Agency; and

(II)

obligate those funds.

(iii)

Maintenance of funding

(c)

Insurance fund

(1)

In general

(2)

Commodity Credit Corporation funds

If at any time the amounts in the insurance fund are insufficient to enable the Corporation to carry out subsection (b), to the extent the funds of the Commodity Credit Corporation are available—

(A)

the Corporation may request the Secretary to use the funds of the Commodity Credit Corporation to carry out subsection (b); and

(B)

the Secretary may use the funds of the Commodity Credit Corporation to carry out subsection (b).

(Feb. 16, 1938, ch. 30, title V, § 516, 52 Stat. 77; June 21, 1941, ch. 214, §§ 6, 8, 55 Stat. 255, 256; Aug. 3, 1956, ch. 950, § 10, 70 Stat. 1034; Pub. L. 96–365, title I, §§ 109, 110, Sept. 26, 1980, 94 Stat. 1317, 1318; Pub. L. 97–11, May 22, 1981, 95 Stat. 13; Pub. L. 99–198, title X, § 1021, Dec. 23, 1985, 99 Stat. 1459; Pub. L. 103–354, title I, § 110, Oct. 13, 1994, 108 Stat. 3198; Pub. L. 104–127, title I, § 193(e), Apr. 4, 1996, 110 Stat. 945; Pub. L. 105–185, title V, § 531, June 23, 1998, 112 Stat. 580; Pub. L. 106–224, title I, § 147, June 20, 2000, 114 Stat. 393; Pub. L. 113–79, title XI, § 11021, Feb. 7, 2014, 128 Stat. 968; Pub. L. 115–123, div. F, § 60101(c)(2), Feb. 9, 2018, 132 Stat. 312; Pub. L. 115–334, title XI, § 11118, Dec. 20, 2018, 132 Stat. 4926.)

cite as: 7 USC 1516