Senators Max Baucus (D-MT), Kent Conrad (D-ND), Jon Tester (D-MT) and Tim Johnson (D-SD) have introduced legislation, the “Supplemental Agricultural Disaster Assistance Extension Act of 2012,” to provide a one-year extension of agriculture disaster assistance programs that expired last Sept. 30. Senator Baucus said, “American farmers and ranchers put food on our tables every single day and they deserve the certainty and security of knowing we stand behind them when disaster strikes.” The disaster programs extended by the legislation include:
- Supplemental Revenue Assistance Payments (SURE) program, which provides crop insurance for farmers affected by disasters.
- Livestock Indemnity Program (LIP), which compensates ranchers at a rate of 75% of market value for livestock mortality caused by disasters.
- Livestock Forage Program (LFP), which assists ranchers who graze livestock on qualifying drought- or fire-affected pasture land.
- Emergency Livestock Assistance Program (ELAP), which compensates producers for disaster losses not covered under other disaster programs.