USDA Makes it Easier to Transfer Land to the Next Generation
January 6, 2017
Agriculture Deputy Under Secretary Lanon Baccam announced that beginning Jan. 9 the U.S. Department of Agriculture will offer an early termination opportunity for certain Conservation Reserve Program contracts, making it easier to transfer property to the next generation of farmers and ranchers, including family members. The land that is eligible for the early termination is among the least environmentally sensitive land enrolled in CRP.
Normally if a landowner terminates a CRP contract early, they are required to repay all previous payments plus interest. The new policy waives this repayment if the land is transferred to a beginning farmer or rancher through a sale or lease with an option to buy. With CRP enrollment close to the Congressionally-mandated cap of 24 million acres, the early termination will also allow USDA to enroll other land with higher conservation value elsewhere.
For more information about CRP and to find out if your acreage is eligible for early contract termination, contact your local Farm Service Agency office or go online to www.fsa.usda.gov/crp.