H.R. 7464 — TEMP Act

This section directs the Federal Crop Insurance Corporation (FCIC) to conduct research and development, or contract with qualified persons to do so, on an index-based insurance policy available nationwide for crops (including tomatoes, peppers, sugarcane, strawberries, melons, citrus, peaches, blueberries, and others) against losses from frost or cold weather events. Such research and development must (1) evaluate the effectiveness of index-based risk management tools for low-frequency, catastrophic weather events and (2) result in a policy providing protection against at least production loss or revenue loss. Not later than one year after enactment, FCIC must report to the House and Senate Agriculture Committees on the results and any recommendations.