REDUCTION IN LOSS RATIO.

SEC. 12003. REDUCTION IN LOSS RATIO.(a) Projected Loss Ratio.—Subsection (n)(2) of section 506 of the Federal Crop Insurance Act (7 U.S.C. 1506) (as redesignated by section 12002(b)(1)) is amended—(1) in the paragraph heading, by striking “as of october 1, 1998”;(2) by striking “, on and after October 1, 1998,”; and(3) by striking “1.075” and inserting “1.0”.(b) Premiums Required.—Section 508(d)(1) of the Federal Crop Insurance Act (7 U.S.C. 1508(d)(1)) is amended by striking “not greater than 1.1” and all that follows and inserting “not greater than—“(A) 1.1 through September 30, 1998;“(B) 1.075 for the period beginning October 1, 1998, and ending on the day before the date of enactment of the Food, Conservation, and Energy Act of 2008; and“(C) 1.0 on and after the date of enactment of that Act.”.122 STAT. 2134