NEW FARM BILL OFFERS INCREASED OPPORTUNITIES FOR PRODUCERS The 2014 Farm Bill offers increased opportunities for producers including farm loan program modifications that create flexibility for new and existing farmers. A fact sheet outlining modifications to the U.S. Department of Agriculture's (USDA) Farm Service Agency (FSA) Farm Loan Programs is available here. The Farm Bill expands lending opportunities for thousands of farmers and ranchers to begin and continue operations, including greater flexibility in determining eligibility, raising loan limits, and emphasizing beginning and socially disadvantaged producers. Changes that will take effect immediately include: · Elimination of the 15 year term limit for guaranteed operating loans. · Modification of the definition of beginning farmer, using the average farm size for the county as a qualifier instead of the median farm size. · Modification of the Joint Financing Direct Farm Ownership Interest Rate to 2 percent less than regular Direct Farm Ownership rate, with a floor of 2.5 percent. Previously, the rate was established at 5 percent. · Increase of the maximum loan amount for Direct Farm Ownership Down Payment Loan Program from $225,000 to $300,000. · Elimination of rural residency requirement for Youth Loans, allowing urban youth to benefit. · Debt forgiveness on Youth Loans, which will not prevent borrowers from obtaining additional loans from the federal government. · Increase of the guaranteed percentage on Conservation Loans from 75 to 80 percent and 90 percent for socially disadvantaged borrowers and beginning farmers. · Microloans will not count toward direct operating loan term limits for veterans and beginning farmers. Additional modifications must be implemented through the rulemaking processes. Visit the FSA Farm Bill website for detailed information and updates to farm loan programs. The 2014 Farm Bill offers increased opportunities for producers including farm loan program modifications that create flexibility for new and existing farmers. A fact sheet outlining modifications to the U.S. Department of Agriculture's (USDA) Farm Service Agency (FSA) Farm Loan Programs is available here. The Farm Bill expands lending opportunities for thousands of farmers and ranchers to begin and continue operations, including greater flexibility in determining eligibility, raising loan limits, and emphasizing beginning and socially disadvantaged producers. Changes that will take effect immediately include: · Elimination of the 15 year term limit for guaranteed operating loans. · Modification of the definition of beginning farmer, using the average farm size for the county as a qualifier instead of the median farm size. · Modification of the Joint Financing Direct Farm Ownership Interest Rate to 2 percent less than regular Direct Farm Ownership rate, with a floor of 2.5 percent. Previously, the rate was established at 5 percent. · Increase of the maximum loan amount for Direct Farm Ownership Down Payment Loan Program from $225,000 to $300,000. · Elimination of rural residency requirement for Youth Loans, allowing urban youth to benefit. · Debt forgiveness on Youth Loans, which will not prevent borrowers from obtaining additional loans from the federal government. · Increase of the guaranteed percentage on Conservation Loans from 75 to 80 percent and 90 percent for socially disadvantaged borrowers and beginning farmers. · Microloans will not count toward direct operating loan term limits for veterans and beginning farmers. Additional modifications must be implemented through the rulemaking processes. Visit the FSA Farm Bill website for detailed information and updates to farm loan programs. 2014 ACREAGE REPORTING DATES In order to comply with FSA program eligibility requirements, all producers are encouraged to visit the Benton County FSA office to file an accurate crop certification report by the applicable deadline. The following acreage reporting dates are applicable for Benton County: December 15, 2013: Fall-Seeded Small Grains January 15, 2014: Apples, Peaches July 15, 2014: All Other Crops August 15, 2014: Beans The following exceptions apply to the above acreage reporting dates: · If the crop has not been planted by the above acreage reporting date, then the acreage must be reported no later than 15 calendar days after planting is completed. · If a producer acquires additional acreage after the above acreage reporting date, then the acreage must be reported no later than 30 calendars days after purchase or acquiring the lease. Appropriate documentation must be provided to the county office. · If a perennial forage crop is reported with the intended use of "cover only," "green manure," "left standing," or "seed," then the acreage must be reported by July 15th. Noninsured Crop Disaster Assistance Program (NAP) policy holders should note that the acreage reporting date for NAP covered crops is the earlier of the dates listed above or 15 calendar days before grazing or harvesting of the crop begins. For questions regarding crop certification and crop loss reports, please contact our office at 731-584-8186 HIGHLY ERODIBLE LAND AND WETLAND COMPLIANCE Landowners and operators are reminded that in order to receive payments from USDA, they must be compliant with Highly Erodible Land (HEL) and Wetland Conservation (WC) provisions. Farmers with HEL determined soils must apply tillage, crop residue and rotation requirements as specified in their conservation plan. Producers should notify FSA prior to conducting land clearing or drainage projects to ensure compliance. If you intend to clear any trees to create new cropland, these areas will need to be reviewed to ensure any work will not jeopardize your eligibility for benefits. Landowners and operators can complete form AD-1026 Highly Erodible Land Conservation (HELC) and Wetland Conservation (WC) Certification to determine whether a referral to Natural Resources Conservation Service (NRCS) is necessary. For more information on Highly Erodible Land and Wetland Conservation provisions, contact a FSA County Office or visit the FSA website at www.fsa.usda.gov.
MARKETING ASSISTANCE LOANS (MAL) Short-term financing is available by obtaining low interest commodity loans for eligible harvested production. A nine-month Marketing Assistance Loan provides financing that allows producers to store production for later marketing. The crop may be stored on the farm or in the warehouse. Loans are available for producers who share in the risk of producing the eligible commodity and maintain beneficial interest in the crop through the duration of the loan. Beneficial interest means retaining the ability to make decisions about the commodity, responsibility for loss because of damage to the commodity and title to the commodity. Once beneficial interest in a commodity is lost, it is ineligible for a loan, even if you regain beneficial interest. FSA will begin accepting MALs and applications for LDPs on the 2014 wool crop immediately. FSA will accept MAL/LDP requests for honey (produced and extracted) starting April 1, 2014. MAL/LDP requests for all other eligible commodities can be made after harvest. Sugar MALs will be available beginning October 1, 2014.
USDA is an equal opportunity provider and employer. To file a complaint of discrimination, write: USDA, Office of the Assistant Secretary for Civil Rights, Office of Adjudication, 1400 Independence Ave., SW, Washington, DC 20250-9410 or call (866) 632-9992 (Toll-free Customer Service), (800) 877-8339 (Local or Federal relay), (866) 377-8642 (Relay voice users). |
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