1. Short title This Act may be cited as the Insuring Fairness for Family Farmers Act of 2023 . 2. Terms for Standard Reinsurance Agreement and Livestock Price Reinsurance Agreement (a) Definitions In this section: (1) A&O subsidy The term A&O subsidy means the subsidy for administrative and operating expenses paid by the Corporation on behalf of the policyholder to the applicable approved insurance provider for eligible crop insurance contracts for additional coverage levels, in accordance with section 508(k)(4) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(k)(4) ). (2) Corporation The term Corporation has the meaning given the term in section 502(b) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b) ). (3) Secretary The term Secretary means the Secretary of Agriculture. (b) Renegotiation of standard reinsurance agreement and the Livestock Price Reinsurance Agreement (1) In general The Corporation shall revise the financial terms and conditions of the Standard Reinsurance Agreement and the Livestock Price Reinsurance Agreement to modify the calculation of A&O subsidies— (A) to improve the equity of the distribution of payments to crop insurance agents across farm sizes