Blog: Time Is Running OUt To Make Key 2014 Farm Bill Program Decisions
February 18, 2015
As most farm owners and producers are aware, the 2014 Farm Bill made some key changes to its safety net programs. The new Farm Bill introduced us to the Agricultural Risk Coverage (ARC) and Price Loss Coverage (PLC) programs and eliminated the Direct and Counter-Cyclical and Average Crop Revenue Election programs. Some upcoming deadlines have come with these program changes.
Landowners only have until February 27, 2015 to update yield history and/or reallocate base acres for their farms. If a landowner fails to update these or chooses not to, program payments will be based on the farm’s existing base acreage and yields, which may have been determined many years ago and not reflect current planting practices.
Producers have a little more time, until March 31, 2015, to decide if they will choose ARC or PLC for the 2014-2018 crop years. Failing to make this election will automatically enroll the farm into PLC for 2015-2018.
This blog post is authored by Allyson Dirksen and meant for informational purposes only. It is not meant to provide legal advice in any particular circumstance or factual situation. You should consult with an attorney prior to taking any action regarding the information contained herein.