Conservation Opportunity and Voluntary Environment Resilience Program Act of 2023

This bill amends the Federal Crop Insurance Act to establish a Good Steward Cover Crop program and a Soil Health Pilot Program. It provides additional premium subsidies to producers who plant qualifying cover crops and purchase crop insurance, and creates a pilot program for innovative soil health practices.

Sec. 2, Good Steward Cover Crop Program: The Secretary of Agriculture must carry out a program starting with crop year 2023 to give additional premium subsidies to producers for each acre where they plant qualifying cover crops (such as cereal, grass, legume, brassica, or nonlegume broadleaf for conservation) and also plant other crops and buy insurance under a covered insurance program. The subsidy is $5 per acre, calculated on a common land unit basis, but cannot exceed the premium owed for that acre and is adjusted for the producer's share. Participation in state conservation programs does not disqualify a producer. The Secretary must conduct outreach to producers, including underserved producers, and enter cooperative agreements with organizations to encourage cover crop adoption. Annual reports to Congress must summarize activities, including number and amount of subsidies, acres of cover crops, and outreach, and include recommendations to increase participation. A study must be submitted within 4 years examining whether cover crops reduce crop insurance payments and stabilize yields. Funding is mandatory from the Corporation: $60 million for fiscal year 2024, $66 million for 2025, $72 million for 2026, $78 million for 2027, and $84 million for 2028, with unobligated funds available for the next fiscal year. Up to $5 million per year may be used for technical assistance, outreach, and program support.

Sec. 3, Soil Health Pilot Program: The Corporation must establish a pilot program as soon as practicable after enactment, under which producers using innovative soil health practices (including conservation crop rotations) may receive additional premium subsidies on crop insurance. The subsidies must be offered through reinsurance with private companies, be actuarially sound, and require premium and administrative fee payments. The pilot program must be conducted in a number of counties adequate to evaluate feasibility, effectiveness, and demand among producers.