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Provisions |
House Bill HR 2646 |
Senate Bill |
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Term of Bill |
2002-11 crops (10 years) |
2002-06 crops (5 years) |
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Payment Acres |
Producer choice of: (A) either 4-year average (1998-01) planted or considered planted to commodity, or (B) current contract acreage. Note: Producer must choose 4-year average to be eligible to establish oilseed payment base. |
Producer choice of: (A) 4-year average (1998-01) of acreage planted or considered planted to commodity or (B) the current contract acreage plus oilseeds. Base cannot exceed total cropland. |
|
Payment Yield |
2002 payment yield to be used for fixed and counter cyclical payments |
If producer chooses Option A for payment acreage calculation, then he has option to choose: (1) average of yield per harvested acre for 1998-01 crops, excluding any crop year for which crop not planted and 1 additional year, or (2) 2002 payment yield. If producer chooses Option B for payment acreage calculation, yield equals 2002 payment yield. Applicable for direct and income protection payments |
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Payment Factor |
85% of base acreage |
100% of base acreage |
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WTO Adjustment Authority |
Secretary has authority to make adjustments in each year’s final counter-cyclical payment if determined to exceed "amber box" aggregate limit of $19.1 billion |
Secretary has authority to make adjustments in each year’s final counter-cyclical payment if determined to exceed "amber box" aggregate limit of $19.1 billion |
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Decoupled Fixed Payment |
2002-11 Crops Wheat - $0.53/bu |
Crop Wheat |
2002-03 $0.45/bu |
2004-05 $0.225/bu $0.065/lb |
2006 $0.113/bu $0.0325/lb |
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Decoupled Counter Cyclical Payment |
Difference between target price and effective price. Effective price equal to fixed payment plus higher of 12-month season average price received or loan rate. Advance payments authorized. Target Prices :Wheat - $4.04/bu Corn - $2.78/bu GS - $2.64/bu Cotton - $0.736/lb Rice - $10.82/cwt Soybeans - $5.86/bu Minor Oilseeds - $0.1036/lb |
Applicable to 2004-06 crops Difference between income protection price and direct payment plus higher of first 5 month of marketing year average price received or loan rate. Advance payments authorized. Income Protection Prices: | |||
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Loan |
All production of applicable commodity is loan eligible, including production on non-contract farm. Marketing Loan Maximum Rates :Wheat - $2.58/bu Corn - $1.89/bu GS - $1.89/bu Cotton - $0.5192/lb* Rice - $6.50/cwt (fixed) Soybeans - $4.92/bu Minor Oilseeds - $0.087/lb *min. rate = $0.50/lb |
All production of applicable commodity is loan eligible for 9-month loan. Marketing Loan Rates :Wheat - $3.00/bu Corn - $2.08/bu GS - $2.08/bu Cotton - $0.55/lb Rice - $6.85/cwt Soybeans - $5.20/bu Minor Oilseeds - $0.095/lb | |||
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Cotton Competitiveness Provisions |
Maintains 3-Step competitiveness provisions |
Maintains 3-Step competitiveness provisions | |||
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Planting Flexibility |
Unchanged from current law. Producer can plant any crop on base acres except fruits and vegetables unless history of double-cropping or established history in which case payments would be reduced. |
Producer can plant any crop on base acres except fruits, vegetables and wild rice | |||
|
ELS |
Non-recourse loan based on formula; |
Non-recourse loan | |||
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Payment Limits |
$50,000/person - Fixed Payment |
$100,000/person combined limit for fixed and counter-cyclical payments | |||
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Peanuts |
Separate program with fixed and cc payments. Fixed payment rate =$36/ton and cc target price =$480/ton. Establishes a marketing assistance loan of 350/ton. Terminates marketing quota program and compensates quota holders @ $.10/lb per year for 5 years. |
Separate program with fixed and cc payments. Fixed payment rate =$36/ton and cc target price = $520/ton. Also establishes a marketing assistance loan with rate = $400/ton. | |||
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Conservation Compliance |
Continues swampbuster and highly erodible land compliance requirements for program benefit eligibility. |
Continues swampbuster and highly erodible land compliance requirements for program benefit eligibility. | |||
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Conservation Security Act |
N/A |
New program provides payments to producers who adopt or maintain conservation on lands in production. Payment rates based on average county rental rate limited to $20,000 - tier 1; $35,000 - tier 2 and $50,000 - tier 3. Tier 1- basic management practices; Tier 2 - practices to treat resource on operation; and, Tier 3 - whole farm plan. | |||
|
CRP |
Reauthorize; 39.5 million-acre enrollment cap. |
Reauthorize; 40 million-acre enrollment cap. | |||
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WRP |
Reauthorize; additional enrollment of 150,000 acres per year |
Reauthorize; additional enrollment of 250,000 acres per year | |||
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EQIP |
Reauthorize; funds at $1.2 billion per year; livestock and commodities allocated 50% each; $675 million set-a-side for groundwater conservation measures |
Reauthorize; funds at $300 million FY02; $850 million FY03; $1 billion FY04; $1.1 billion FY05 and $1.25 billion FY06. Limits payments to $150,000 total; 50,000/year- direct attribution | |||
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WHIP |
Reauthorize; fund cost share at $25 million per year |
Reauthorize; fund at $50 million FY02 and 03; $175 million FY04 and 05; and, $200 million FY06 | |||
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Farmland Protection |
Reauthorize; fund at $50 million per year |
Reauthorize; fund at $150 million FY02 and 03; $175 million FY04 and 05; and, $200 million FY06 | |||
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Grassland Reserve |
New program; 2 million acres to be enrolled in 10, 15 and 20 year contracts |
New program; 1 million acres of grass and shrub lands enrolled in 30 year and permanent easements, and 30 year rental contracts | |||