Average Crop Revenue Election: Difference between revisions

The U.S. [[Farm Service Agency]] administers '''Annual Crop Revenue Election''' ('''ACRE''', a [[backronym]]), a new program authorized by the [[2008 Farm Bill]] that begins in crop year 2009. Through ACRE, the [[United States Department of Agriculture]] (USDA) offers producers an alternative to the [[Direct and Counter-Cyclical Program]]. The ACRE alternative provides eligible producers a state-level [[revenue]] guarantee, based on the 5-year state [[Olympic average]] yield and the 2-year national average price. ACRE payments are made when both state- and farm-level triggers are met. By participating in ACRE, producers elect to forgo [[counter-cyclical payment]]s, receive a 20-percent reduction in direct payments and a 30-percent reduction in CCC commodity loan rates. A decision to elect ACRE binds the elected land to the program through the 2012 crop year, the last crop year covered by the 2008 Farm Bill.