Price Loss Coverage

 

The Price Loss Coverage program (PLC) is carried over from the 2014 Farm Bill. PLC provides income support through price loss payments to eligible producers.

Active 10.112 Farm Service Agency, Department of Agriculture C - Direct Payments For Specified Use Not applicable. The Agricultural Act of 2014, Title I, Part II, Section 1116, Public Law 113-79
The Agriculture Improvement Act of 2018, Public Law 115-334 An eligible producer is eligible to enter into a contract if 1) the owner of the farm has an ownership of a crop and assumes all or a part of the risk producing a crop that is commensurate with that claimed ownership of the crop; 2) a producer, other than the owner, on a farm with a share-rent lease for such farm, regardless of the length of the lease, if the owner of the farm enters into the same contract; 3) a producer, other than an owner, on a farm who rents such farm under a lease expiring on or after September 30 of the year of the contract in which case the owner is not required to enter into the contract; 4) a producer, other than an owner , on a farm who cash rents such farm under a leasing expiring before September 30 of the year of the contract; 5)An owner of an eligible farm who cash rents such farm and the lease expires before September 30 of the year of the contract, if the tenant declines to enter into a contract for the applicable year. PLC provides payments to eligible producers on farms enrolled for the 2019 through 2023 crop years. It is understood and agreed that producers on a farm may participate in the program only by enrolling in a contract that is consistent with the election previously made for the farm and covered commodities of that farm. Election is not enrollment and the election that applies to a farm and the covered commodities of a farm applies without regard to whether or not producers choose to enroll the farm or not. Enrollment is required each and every contract year. Preapplication coordination is not applicable. This program is excluded from coverage under 2 CFR 200, Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards. PLC program payments are issued when the effective price of a covered commodity is less than the effective reference price for that commodity. The effective price equals the higher of the market year average price (MYA) or the national average loan rate for the covered commodity. Producers receive their PLC payments after October 1 following the end of the 12-month marketing year for the covered commodity as applicable. The 2019 enrollment was September 2019 and ended March 16, 2020; the 2020 enrollment was October 2019 and ended June 30, 2020; the 2021 enrollment was October 13, 2020, and ended March 15, 2021. The 2022 enrollment was October 18, 2021 and ended March 15, 2022, and the 2023 enrollment will begin in October 2022 and end March 15, 2023. From 15 to 30 days. Approval of payments depends on farmer compliance with conservation and wetland provisions. From 15 to 30 days. A producer may obtain reconsideration and review of any adverse determination made under this part in accordance with the appeal regulations specified in 7CFR parts 11 and 780 of Title 7 Agriculture. Not applicable. Not applicable. The PLC yield for covered commodities on the farm is equal to the counter-cyclical payment yield established for each covered commodity on the farm that was effective on September 13, 2013, unless the PLC yield is updated. Not applicable. Recipients under this program are subject to audit by the Office of the Regional Inspector General, USDA. An owner or any other individual or entity receiving assistance for PLC shall maintain and retain financial books and records which will permit verification of all transactions for at least 3 years, following the end of the calendar year in which assistance was provided. Statutory Formula: Title 7 Chapter 1412 Subpart A Public Law 113-79 as amended by Public Law 115-334

Matching requirements are not applicable to this assistance listing.

MOE requirements are not applicable to this assistance listing. PLC payments shall be made beginning October 1, or as soon as practicable thereafter, after the end of the applicable marketing year for the covered commodity, this is statutory. There is no limit place on the time permitted to spend the money award. Method of awarding/releasing assistance: Lump. Consult the appropriate FSA State office where the property is located. For a list of FSA State offices with telephone numbers and addresses, information is available on the internet, visit FSA website at www.fsa.usda.gov to locate nearest office. Jamie Garriott
1400 Independence Ave SW Room 4759-S
Washington, DC 20024 US
jamie.garriott@usda.gov
Phone: (202) 253-9843 http://www.fsa.usda.gov/programs-and-services/arcplc_program/index 12-4336-0-3-999 (Direct Payments for Specified Use) FY 22$2,105,601,567.00; FY 23 est $771,681,000.00; FY 24 est $28,035,000.00; FY 21$4,994,133,160.00; FY 20$1,927,807,000.00; FY 19$2,042,545,000.00; FY 18$1,231,000,000.00; FY 17$1,952,650,000.00; FY 16$5,841,000,000.00; - Not applicable/available. Program is announced through news media and in letters to agricultural producers in the counties. Regulations published in the Federal Register, 7 CFR Part 1412. Not applicable.