Looks like no one added any tags here yet for you.
What is the difference between (a) a farm conservation contract and (b) a farm conservation easement; and (c) why would landowners prefer one or the other?
a. Contract is limited time
b. conservation easement is permanent
c. Contract: pays less, only one part of land, limited time. Easement: protected forever, pays more, tax deduction
(a) What are typical cost share percentage rates for farm conservation practices, and (b) what are common annual farm payment costs received per acre?
a. 50%
b. 30 yr: $250/ac, Permanent: $1000/ac
County bonds for conservation and public education are often approved by voters, yet opposition to federal income taxation and expenses seems pervasive. What accounts for this difference
People more inclined to serve community (know where money goes) rather than pay federal tax
(a) Name four common Farm Bill conservation programs and (b) describe what their goals are.
CRP: crop reserve - preserving covers on farmland
EQIP: promotes ag and env protection
CSP: land use payments in proportion to env protection
WRP: protect, restore, enhance wetlands
In general terms, describe how a farm landowner (a) applies for conservation payments, (b) is selected, (c) receives their funds, and (d) is monitored to receive payment or asked to recover funds for lack of performance.
a. 1. identify practices performed and merits of those practices
2. estimate equipment, labor, and time required to perform elements
3. obtain cost per element or factor of production
4. Calculate cost per total practice
5. Estimate incentives needs for establishment costs
b. Demonstrate a public need
c. Direct payment from buyers
d.
Incentives
a payment or concession to stimulate greater output or investment
Adjusted gross income (AGI)
total income minus deductions or adjustments
established cost payments
cost that is computed using preestablished measures
subsidy
a sum of money granted by the government or a public body to assist an industry or business so that the price of a commodity or service may remain low or competitive
HEL / WC / AGI farm bill requirements
AGI must not exceed certain amount, provide evidence that they meet the wetlands conservation (WC) and highly erodible lands (HEL) cross-compliance strictures