PREMIUMS ADJUSTMENTS.

SEC. 12004. PREMIUMS ADJUSTMENTS. Section 508(a) of the Federal Crop Insurance Act (7 U.S.C. 1508(a)) is amended by adding at the end the following:“(9) Premium adjustments.—“(A) Prohibition.—Except as provided in subparagraph (B), no person shall pay, allow, or give, or offer to pay, allow, or give, directly or indirectly, either as an inducement to procure insurance or after insurance has been procured, any rebate, discount, abatement, credit, or reduction of the premium named in an insurance policy or any other valuable consideration or inducement not specified in the policy.“(B) Exceptions.—Subparagraph (A) does not apply with respect to—“(i) a payment authorized under subsection (b)(5)(B);“(ii) a performance-based discount authorized under subsection (d)(3); or“(iii) a patronage dividend, or similar payment, that is paid—“(I) by an entity that was approved by the Corporation to make such payments for the 2005, 2006, or 2007 reinsurance year, in accordance with subsection (b)(5)(B) as in effect on the day before the date of enactment of this paragraph; and“(II) in a manner consistent with the payment plan approved in accordance with that subsection for the entity by the Corporation for the applicable reinsurance year.”.