1.This Act may be cited as the
Containing Risk, Offering Protection
Act
.
2.Coverage of
quarantine losses to insured commodities under the Federal Crop Insurance
Act
(a)Expansion To
include quarantine lossesSection 508(a)(1) of the Federal Crop
Insurance Act (7 U.S.C. 1508(a)(1)) is amended in the second sentence—
(1)by striking
be due to drought
and
inserting
be due—(A)to
drought
;
(2)by striking
Secretary).
and inserting Secretary); or
;
and
(3)by adding at the
end the following new subparagraph:
(B)to a quarantine imposed under Federal law,
pursuant to the terms of which the commodity is destroyed or otherwise unable
to be marketed or otherwise utilized for its intended purpose (as determined by
the
Secretary).
.
(b)Subparagraph (B) of
section 508(a)(1) of the Federal Crop Insurance Act (7 U.S.C. 1508(a)(1)), as
added by subsection (a)(3), shall apply beginning with the 2014 reinsurance
year.