Farm Risk Management Act for the 21st Century

[AI summary unavailable — showing source text] Farm Risk Management Act for the 21st Century - Directs the Secretary of Agriculture to contract with eligible operators and producers (risk management account contracts) to: (1) provide a reserve to assist in the stabilization of farm income during low-revenue years; (2) assist operators and producers to invest in value-added farms; and (3) recognize high levels of environmental stewardship. Sets forth risk management account contract provisions, including: (1) administration; (2) direct payments; (3) stewardship payments; (4) account transfers; and (5) tax treatment. Extends counter-cyclical payments. Amends the Farm Security and Rural Investment Act of 2002 to: (1) replace current national dairy market loss payment provisions with dairy payment provisions through FY2012; (2) revise and extend funding authority for the McGovern-Dole international food for education and child nutrition program; (3) extend funding for testing of biobased products for the federal biobased procurement program; (4) revise and extend the biorefinery development program; (5) revise and extend the rural renewable energy development program; and (6) replace current renewable and energy systems and energy …