1. Short title This Act may be cited as the Crop Insurance for Future Farmers Act of 2023 . 2. Crop insurance support for beginning farmers and ranchers (a) Definition of beginning farmer or rancher (1) In general Section 502(b)(3) of the Federal Crop Insurance Act ( 7 U.S.C. 1502(b)(3) ) is amended by striking 5 and inserting 10 . (2) Conforming amendment Section 522(c)(7) of the Federal Crop Insurance Act ( 7 U.S.C. 1522(c)(7) ) is amended by striking subparagraph (F). (b) Increase in assistance Section 508(e)(8) of the Federal Crop Insurance Act ( 7 U.S.C. 1508(e)(8) ) is amended— (1) by striking Notwithstanding and inserting the following: (A) In general Notwithstanding ; (2) in subparagraph (A) (as so designated), by striking is 10 percentage points greater than and inserting is the amount of percentage points specified in subparagraph (B) greater than ; and (3) by adding at the end the following: (B) Percentage points adjustments The percentage points referred to in subparagraph (A) are the following: (i) For each of the first and second reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 15 percentage points. (ii) For the third reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 13 percentage points. (iii) For the fourth reinsurance year that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 11 percentage points. (iv) For each of the fifth through tenth reinsurance years that a beginning farmer or rancher participates as a beginning farmer or rancher in the applicable policy or plan of insurance, 10 percentage points. .