USDA’s Farm Service Agency has updated the timelines for the Price Loss Coverage (PLC) and Agriculture Risk Coverage (ARC) programs specified as part of the 2014 Farm Bill.
USDA Notice ARCPLC-13 supplements earlier notices regarding owners’ options to update a farm’s crop yields and whether to retain or reallocate crop bases by February 27, 2015. It also stipulates that the farm’s current producers have between November 17, 2014 and March 31, 2015 to make a one-time, irrevocable election of either:
- Price Loss Coverage (PLC) or Agriculture Risk Coverage-County Coverage (ARC-CO) on a covered commodity by covered commodity basis on a farm, or
- ARC-Individual Coverage (ARC-IC) for all covered commodities on a farm.
The election of PLC or ARC-CO or ARC-IC must be unanimous, must follow the base and yield decisions of the current owners, and apply to the farm for the 2014-2018 crop years.
The Notice states, “A failure of the farm’s current producers to make a program election will cause the farm to default to the PLC election for all covered commodities for 2015 through 2018 crop years, and the farm will NOT be eligible for ARC or PLC payments in 2014.”
The Notice also explains that after the conclusion of the program election period on March 31, 2015, producers must annually enroll their respective share interest of base acres or interest of covered commodities to be eligible to receive payments. The annual enrollment for 2014 and 2015 crops is anticipated to occur from mid-April through mid-summer.
Producers are reminded that the annual enrollment process does NOT allow any change in the program election of ARC or PLC made for the 2014-2018 crop years.
In addition, Notice ARCPLC-10 details the procedures and requirements for farm owners to update a farm’s crop yields for covered commodities for PLC program purposes. It also specifically discusses how PLC yields are established for covered commodities that may be produced on generic base acres if the farm has no yield history for the covered commodity being planted.
Source – USDA