Adjusted gross income and per person limitations on share of insurance premiums paid by Corporation

Section 508(e)(1) of the Federal Crop Insurance Act (7 U.S.C. 1508(e)(1)) is amended— (1) by striking For the purpose and inserting the following: (A) Payment authority Subject to subparagraphs (B) and (C), for the purpose; and (2) by adding at the end the following: (B) Adjusted gross income limitation The Corporation shall not pay a part of the premium for additional coverage for any person or legal entity that has an average adjusted gross income (as defined in section 1001D(a) of the Food Security Act of 1985 (7 U.S.C. 1308–3a(a))) that is greater than $250,000. (C) Per person limitation The Corporation shall not pay more than $40,000 for any reinsurance year to any person or legal entity for premiums under this section..