The BAITS Act expands a federal insurance program called the Livestock Indemnity Program to cover fish farmers for the first time. This program normally pays farmers when they lose livestock due to certain disasters, and the new bill lets fish farmers tap into these same payments when their fish die or lose value.

Here's what fish farmers can now get paid for: attacks by wild animals that the federal government released or protects (like eagles or other birds that eat fish), and disease outbreaks in their fish farms. However, there's an important limitation—unlike traditional livestock farmers who get paid for losses from bad weather like droughts or floods, fish farmers won't be eligible for those weather-related payments. So if a fish farm floods or experiences extreme temperatures, they won't be covered by this program, even though a cattle rancher in the same situation would be.

Basically, this bill gives fish farmers some financial protection against predators and disease, which are major risks in aquaculture, but leaves them on their own when it comes to weather-related disasters.

BAITS Act

Moore, Barry

Bringing Aquaculture Indemnities To Speed Act or the BAITS Act This bill expands the Livestock Indemnity Program (LIP) to eligible producers of farm-raised fish. (LIP provides indemnity payments to eligible livestock producers for loss or reduced sales price due to specified events.) Specifically, the bill adds farm-raised fish to the LIP definition of livestock, expanding LIP indemnity payments to farm-raised fish producers due to (1) an attack by an animal reintroduced into the wild by the federal government or protected by federal law (e.g., avian predators) or (2) disease. Under current law, LIP also provides indemnity payments to eligible livestock producers due to adverse weather. This bill prohibits LIP from making payments to producers of farm-raised fish due to adverse weather.