index policy to insure against agricultural income losses due to 1 or more covered weather conditions. (ii) Coverage Research and development on the covered policy under clause (i) shall require that coverage is available in all 50 States (including Indian Tribes), the District of Columbia, American Samoa, Guam, the Commonwealth of the Northern Mariana Islands, the Commonwealth of Puerto Rico, and the Virgin Islands of the United States. (iii) Option to buy-up or buy-down (I) In general Research and development on the covered policy under clause (i) shall consider permitting a holder of the covered policy to elect to buy-up to 150 percent, subject to subclause (II), or buy-down to 5 percent, of the median county-level adjusted gross income for farms, in 5-percent increments, to reflect the income of the individual farm business of the holder insured under the covered policy. (II) Limitation A holder of a covered policy may buy-up under subclause (I) only if the farms of the holder insured under the covered policy have at least 3 covered crops or commodities. (iv) Priority features of policy In carrying out research and development on the covered policy under clause (i), the following features may be given priority: (I) Agricultural income losses under the covered policy include— (aa) losses for all covered crops or commodities