SA 3654. Mr. SCHUMER submitted an amendment intended to be proposed to amendment SA 3500 proposed by Mr. HARKIN (for himself, Mr. CHAMBLISS, Mr. BAUCUS, and Mr. GRASSLEY) to the bill H.R. 2419, to provide for the continuation of agricultural programs through fiscal year 2012, and for other purposes; which was ordered to lie on the table; as follows:

On page 272, after line 24, add the following:
SEC. 19__ SHARE OF RISK.
(a) In General.--Section 508(k)(3) of the Federal Crop Insurance Act (7 U.S.C. 1508(k)(3)) is amended--
(1) by striking ``require the reinsured'' and inserting the following: ``require--
``(A) the reinsured'';
(2) by striking the period at the end and inserting ``; and''; and
(3) by adding at the end the following:
``(B)(i) the cumulative underwriting gain or loss, and the associated premium and losses with such amount, calculated under any reinsurance agreement (except livestock) ceded to the Corporation by each approved insurance provider to be not less than 12.5 percent; and
``(ii) the Corporation to pay a ceding commission to reinsured companies of 2 percent of the premium used to define the loss ratio for the book of business of the approved insurance provider that is described in clause (i).''.
(b) Conforming Amendments.--Section 516(a)(2) of the Federal Crop Insurance Act (7 U.S.C. 1516(a)(2)) is amended by adding at the end the following:
``(E) Costs associated with the ceding commissions described in section 508(k)(3)(B)(ii).''.
(c) Effective Date.--The amendments made by this section take effect on June 30, 2008.
On page 273, lines 12 and 13, strike ``2 percentage points'' and insert ``4.0 percentage points''.
Beginning on page 445, strike line 18 and all that follows through page 446, line 7, and insert the following:
``(5) The farmland protection program under subchapter B of chapter 2, using, to the maximum extent practicable, $110,000,000 for each of fiscal years 2008 through 2012.
``(6) The grassland reserve program under chapter C of chapter 2, using, to the maximum extent practicable, $300,000,000 for the period of fiscal years 2008 through 2012.
``(7) The environmental quality incentives program under chapter 4, using, to the maximum extent practicable--
``(A) $1,345,000,000 for fiscal year 2008;
``(B) $1,350,000,000 for fiscal year 2009;
``(C) $1,385,000,000 for fiscal year 2010; and
``(D) $1,420,000,000 for each of fiscal years 2011 and 2012.''.


(As printed in the Congressional Record for the Senate on Nov 14, 2007.)