This bill creates a new federal program to help farmers and agricultural producers who suffer crop losses from natural disasters. When farmers experience damage from events like droughts, wildfires, hurricanes, floods, extreme heat, winter storms, or freezes, they can apply to the Department of Agriculture for emergency payments to help cover their losses.

To qualify for help, farmers must submit an application describing their losses. The amount they receive depends on whether they had crop insurance. Farmers with federal crop insurance or the government's noninsured crop disaster program get payments covering up to 90% of their losses. Farmers without insurance get smaller payments covering up to 70% of their losses. However, there are caps on how much any single farmer can receive—ranging from $125,000 to $900,000 depending on their income level and crop type. As a condition of receiving this emergency aid, farmers must agree to purchase crop insurance for the next two years.

The bill uses two methods to calculate payments. For insured farmers, it bases payments on their existing insurance coverage and previous claims. For uninsured farmers, it calculates payments based on their farm revenue, comparing what they would have earned in a normal year versus the disaster year. The program runs through 2030, and the government will spend up to 1% of the total program funds on administrative costs.