To provide emergency disaster assistance to agricultural producers to respond to severe crop losses incurred in 2001 and 2002.

To provide emergency disaster assistance to agricultural producers to respond to severe crop losses incurred in 2001 and 2002.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

This Act may be cited as the `Companion Disaster Assistance Program Act of 2002'.

SEC. 2. COMPANION DISASTER ASSISTANCE.

(a) ASSISTANCE AVAILABLE- The Secretary of Agriculture (in this section referred to as the `Secretary') shall use such sums as are necessary of funds of the Commodity Credit Corporation to make emergency financial assistance available to producers that have incurred qualifying losses for the 2001 or 2002 crop of an agricultural commodity due to damaging weather or related condition, as determined by the Secretary.

(b) ELECTION OF CROP YEAR- If a producer incurred qualifying crop losses in both the 2001 and 2002 crop years, the producer shall elect to receive assistance under this section for losses incurred in either the 2001 crop year or the 2002 crop year, but not both.

(c) QUALIFYING LOSSES- Assistance under this section shall be provided for losses associated with crops that are quantity losses or quality losses, as determined by the Secretary.

(d) DEDUCTIBLE- The Secretary shall make assistance available to a producer with qualifying losses for losses exceeding 15 percent of the producer's historical yield, as determined by the Secretary.

(e) ASSISTANCE AMOUNT- The amount of assistance made available to a producer shall be equal to the lesser of the following:

(1) 40 percent of the product obtained by multiplying--

(A) 65 percent of the producer's historical yield, as determined by the Secretary;

(B) the producer's acreage of the crop for the relevant crop year; and

(C) 65 percent of the expected market price for the crop, as determined by the Secretary.

(2) 4 times the product obtained by multiplying--

(A) the percentage of qualifying losses of the producer exceeding 15 percent of the producer's historical yield, as determined by the Secretary; and

(B) the amount determined under paragraph (1).

(f) LIMITATION- Notwithstanding subsection (e), a producer may not receive assistance under this section for losses to more than one 2001 crop or 2002 crop on the same acreage unless there is an established practice of planting two or more crops for harvest on such acreage in the same crop year, as determined by the Secretary. The Secretary shall give a producer that is not covered by the exception in the previous sentence an opportunity to designate the 2001 or 2002 crop for which the producer requests assistance under this section.

(g) COMMODITY CREDIT CORPORATION- The Secretary shall use the funds, facilities, and authorities of the Commodity Credit Corporation to carry out this title.

(h) REGULATIONS-

(1) IN GENERAL- The Secretary may promulgate such regulations as are necessary to implement this section.

(2) PROCEDURE- The promulgation of the regulations and administration of this section shall be made without regard to--

(A) the notice and comment provisions of section 553 of title 5, United States Code;

(B) the Statement of Policy of the Secretary effective July 24, 1971 (36 Fed. Reg. 13804), relating to notices of proposed rulemaking and public participation in rulemaking; and

(C) chapter 35 of title 44, United States Code (commonly known as the `Paperwork Reduction Act').

(3) CONGRESSIONAL REVIEW OF AGENCY RULEMAKING- In carrying out this subsection, the Secretary shall use the authority provided under section 808 of title 5, United States Code.