SETTLEMENT OF CROP INSURANCE CLAIMS ON FARM-STORED PRODUCTION.

SEC. 12014. SETTLEMENT OF CROP INSURANCE CLAIMS ON FARM-STORED PRODUCTION.(a) In General.—Section 508(j) of the Federal Crop Insurance Act (7 U.S.C. 1508(j)) is amended by adding at the end the following:“(5) Settlement of claims on farm-stored production.—A producer with farm-stored production may, at the option of the producer, delay settlement of a crop insurance claim relating to the farm-stored production for up to 4 months after the last date on which claims may be submitted under the policy of insurance.”.(b) Study on the Efficacy of Pack Factors.—(1) In general.—The Secretary shall conduct a study of the efficacy and accuracy of the application of pack factors regarding the measurement of farm-stored production for purposes of providing policies or plans of insurance under the Federal Crop Insurance Act (7 U.S.C. 1501 et seq.).(2) Considerations.—The study shall consider—(A) structural shape and size;(B) time in storage;(C) the impact of facility aeration systems; and(D) any other factors the Secretary considers appropriate.(3) Report.—Not later than 3 years after the date of enactment of this Act, the Secretary shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a report that includes the findings of the study and any related policy recommendations.