S 1493
Livestock Indemnity Program Improvement Act of 2025
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.
Bill status
- Status
- In committee
- Sponsor
- Sen. Mike Rounds [R-SD]
- Cosponsors
- 1
- Policy area
- Agriculture and Food
- Introduced
- 2025-04-10
- Latest action
- 2025-04-10: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
Committee referrals
Recent actions
- 2025-04-10: Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.
- 2025-04-10: Introduced in Senate