A bill to amend the Federal Crop Insurance Act, and for other purposes.

[AI summary unavailable — showing source text] Amends the Federal Crop Insurance Act to raise the amount of the capital stock of the Federal Crop Insurance Corporation (FCIC) to $400,000,000. Increases the maximum compensation of members of the FCIC Advisory Committee and of members of the Board of Directors who are not otherwise employed by the Government to no greater than the daily rate for GS-18. Requires the Secretary of Agriculture to appoint three active farmers, not otherwise employed by the Government, to the Board of Directors. Eliminates county crop insurance committees and associations of producers from the administration of the insurance program. Makes insurance available to producers of agricultural commodities wherever grown commercially for crops planted for harvest and other agricultural production (including grain sorghum, livestock, and poultry commercially produced for food or fiber) initiated in 1981 through 1985. Limits the coverage of such insurance to the cost of production for the producer for the commodity insured (currently, not more than 75 percent of the average yield for a representative period of years). Authorizes insurance against losses incurred when flooding prevents the planting of a crop. Pr…