The guarantee is set at 90 percent of benchmark revenue for 2025 through 2031
What the document says“by inserting "for each of the 2014 through 2024 crop years and 90 percent of the benchmark revenue for each of the 2025 through 2031 crop years" before the period at the end;”
The section inserts into paragraph (1) of subsection (c) of section 1117 of the Agricultural Act of 2014 words splitting the guarantee in two: the existing figure applies for each of the 2014 through 2024 crop years, and 90 percent of the benchmark revenue applies for each of the 2025 through 2031 crop years.
What the document actually says“by inserting "for each of the 2014 through 2024 crop years and 90 percent of the benchmark revenue for each of the 2025 through 2031 crop years" before the period at the end;”
New words go in at the end of a rule. They set 90 percent of a benchmark for the 2025 to 2031 crop years.
A benchmark is a running average of past revenue. The guarantee is the point at which the program starts paying. The older figure still holds for years up to 2024.
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