12 2 STA T . 21 4 4 PUBLIC LA W 11 0– 24 6—J U NE 1 8, 2008 SEC.120 21. INFORMAT ION MANA G EMENT. Section51 5o f t h e F e d e ralC ro pI n su rance A ct (7U. S.C. 1515 ) isa m ended — (a) in su b section ( j )( 3 ) , b y addin g before the period at the end the follo w ing
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‘, which shall be subject to competition on a periodic basis, as determined by the Secretary ’ ’
and (b) by stri k ing subsection (k) and inserting the following: ‘‘(k) F UNDI N G .— ‘‘(1) IN FORMAT ION T ECH NO L OG Y .— T o carry out subsection (j)(1), the Corporation may use, from amounts made a v ailable from the insurance fund established under section 51 6 (c), not more than $ 15, 0 00,000 for each of fiscal years 2 00 8 through 2011. ‘‘(2) D ATA MINING.—To carry out subsection (j)(2), the Cor - poration may use, from amounts made available from the insur- ance fund established under section 516(c), not more than $ 4 ,000,000 for fiscal year 200 9 and each subse q uent fiscal year.’’. SEC. 12022. RESEARC H AN D DE V E L O P MENT. (a) IN G ENERAL.—Section 522(b) of the Federal Crop Insurance Act (7 U.S.C. 1522(b)) is amended by striking paragraphs (1) and (2) and inserting the following: ‘‘(1) R E S EARCH AND DE V ELO P MENT PAYMENT.— ‘‘(A) IN GENERAL.—The Corporation shall provide a payment to an applicant for research and development costs in accordance with this subsection. ‘‘( B ) REIM B URSEMENT.—An applicant who submits a policy under section 508(h) shall be eligible for the reimbursement of reasonable research and development costs directly related to the policy if the policy is approved by the Board for sale to producers. ‘‘(2) ADVANCE PAYMENTS.— ‘‘(A) IN GENERAL.—Subject to the other provisions of this paragraph, the Board may approve the request of an applicant for advance payment of a portion of reasonable research and development costs prior to submission and approval of the policy by the Board under section 508(h). ‘‘(B) P ROCEDURES.—The Board shall establish proce- dures for approving advance payment of reasonable research and development costs to applicants. ‘‘(C) CONCEPT PROPOSAL.—As a condition of eligibility for advance payments, an applicant shall submit a concept proposal for the policy that the applicant plans to submit to the Board under section 508(h), consistent with proce- dures established by the Board for submissions under subparagraph (B), including— ‘‘(i) a summary of the qualifications of the applicant, including any prior concept proposals and submissions to the Board under section 508(h) and, if applicable, any work conducted under this section; ‘‘(ii) a projection of total research and development costs that the applicant e x pects to incur; ‘‘(iii) a description of the need for the policy, the marketability of and expected demand for the policy among affected producers, and the potential impact
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