Plain English
GovGreed Synthesis ·
Livestock Indemnity Program Improvement Act of 2025 This bill requires the Farm Service Agency (FSA) to update the market value for livestock on a quarterly basis for the purposes of determining Livestock Indemnity Program (LIP) payment rates. The FSA must determine the market value in coordination with the Agricultural Marketing Service and use other appropriate resources. As background, LIP is an FSA program that provides indemnity payments to eligible livestock owners and contract growers for livestock deaths in excess of normal mortality or reduced sales prices due to specified events (e.g., adverse weather, disease, or animal attack). In general, the rate of payment is 75% of the market value of the affected livestock.
Market Impact Map
Action Timeline
2025-04-10
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
2025-04-10
Introduced in Senate
Full Bill Text
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. .
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