INDEMNITY PAYMENTS FOR CERTAIN PRODUCERS.

SEC. 163. INDEMNITY PAYMENTS FOR CERTAIN PRODUCERS. (a) In General.—Except as otherwise provided in this section, notwithstanding section 508(c)(5) of the Federal Crop Insurance Act (7 U.S.C. 1508(c)(5)), a producer that purchased a 1999 Crop Revenue Coverage policy for a commodity covered by Bulletin MGR–99–004 (as in effect before being voided by subsection (d)) by the sales closing date prescribed in the actuarial documents in the county where the policy was sold shall receive an indemnity payment in accordance with the policy. (b) Base and Harvest Prices.—The base price and harvest price under the policy for a commodity described in subsection (a) shall be determined in accordance with the Commodity Exchange Endorsement published by the Federal Crop Insurance Corporation on July 14, 1998 (63 Fed. Reg. 37829). (c) Reinsurance.—Subject to subsection (b), notwithstanding section 508(c)(5) of the Federal Crop Insurance Act (7 U.S.C. 1508(c)(5)), the Corporation shall provide reinsurance with respect to the policy in accordance with the Standard Reinsurance Agreement. (d) Voiding of Bulletin.—Bulletin MGR–99–004, issued by the Administrator of the Risk Management Agency of the Department of Agriculture, is void. (e) Effective Date.—This section takes effect on October 1, 2000.