S 1493 ยท Livestock Indemnity Program Improvement Act of 2025
Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Introduced
- Apr 10, 2025
- Latest action
- Apr 10, 2025
- Sponsor
- Sen. Mike Rounds [R-SD]
- Policy area
- Agriculture and Food
- Cosponsors
- 1
Summary
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.
Recent actions
- Apr 10, 2025 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- Apr 10, 2025 Introduced in Senate
Votes
No recorded votes are available for this bill.