S. 1493 · Where this bill is now
In committee
Introduced in the Senate, Apr 10, 2025
What this bill does
In plain words · AI-written from the official summaryUpdates livestock insurance payment values quarterly
The Farm Service Agency runs a program that pays livestock owners when their animals die from things like bad weather, disease, or animal attacks. Right now, the agency sets the value of livestock once and uses that to calculate payment amounts. This bill requires the agency to update those values four times a year instead, so payments better reflect what livestock is actually worth at different times.
How it affects you
If you raise livestock, this means the indemnity payments you could receive for losses would be based on more current market prices throughout the year. For other people, this is a specialized program that mostly affects farmers and ranchers who participate in it.
Read the official summary (Introduced in Senate, Apr 10, 2025)
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.
Written by AI (Claude) using only the official summary by the Congressional Research Service, the Library of Congress’s nonpartisan research staff. It can miss nuance, so check the official summary and the bill text for details.
1st SessionS. 1493
A BILL
Livestock Indemnity Program Improvement Act of 2025
Sponsor: Sen. Mike Rounds (R-SD) · Introduced Apr 10, 2025 · Agriculture and Food · 1 version of the text
Sources: Congress.gov actions and votes · bill text from GovInfo · latest official action Apr 10, 2025: “Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.”