Quality loss adjustment coverage

Section 508(m)(3) of the Federal Crop Insurance Act (7 U.S.C. 1508(m)(3)) is amended— (1) by striking subparagraph (A) and inserting the following: (A) Periodic review Beginning with the 2027 calendar year and every 5 years thereafter, the Corporation shall contract with a qualified person to conduct a review, which shall be completed within 1 year of initiation, of the quality loss adjustment procedures of the Corporation.; (2) in subparagraph (B), by striking the subparagraph designation and all that follows through review and inserting the following: (B) Stakeholder engagement Each review under subparagraph (A) shall include engagement from regionally diverse industry stakeholders for each agricultural commodity for which a quality loss adjustment is offered. (C) Procedures Based on each review conducted under subparagraph (A); and (3) by adding at the end the following: (D) Report On the completion of each review under subparagraph (A), the Corporation shall submit to the Committee on Agriculture, Nutrition, and Forestry of the Senate and the Committee on Agriculture of the House of Representatives a report that describes— (i) findings from that review; (ii) changes to the quality loss adjustment procedures; (iii) the stakeholder engagement for that review pursuant to subparagraph (B); and (iv) plans for establishing specific quality loss adjustment procedures for unique regions, as determined by the Secretary..