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INFLATION REDUCTION ACT<br />
conservation practices or enhancements<br />
that the USDA determines including that<br />
they directly improve soil carbon, reduce<br />
nitrogen losses, or reduce, capture, avoid,<br />
or sequester carbon dioxide, methane, or<br />
nitrous oxide emissions associated with<br />
agricultural production.<br />
Agricultural Conservation Easement<br />
Program (ACEP) – $1.4 billion<br />
n $100 million for fiscal year 2023<br />
n $200 million for fiscal year 2024<br />
n $500 million for fiscal year 2025<br />
n $600 million for fiscal year 2026<br />
These funds are to be used for easements<br />
or interests in land that will most<br />
reduce, capture, avoid, or sequester<br />
carbon dioxide, methane, or nitrous oxide<br />
emissions associated with land eligible<br />
for the program.<br />
Regional Conservation Partnership<br />
Program – $6.75 billion<br />
n $250 million for fiscal year 2023<br />
n $800 million for fiscal year 2024<br />
n $1.5 billion for fiscal year 2025<br />
n $2.4 billion for fiscal year 2026<br />
These funds must be used to support<br />
the implementation of conservation projects<br />
that assist agricultural producers and<br />
nonindustrial private forestland owners in<br />
directly improving soil carbon, reducing<br />
nitrogen losses, or reducing, capturing,<br />
avoiding, or sequestering carbon dioxide,<br />
methane, or nitrous oxide emissions,<br />
associated with agricultural production.<br />
These funds may not be paid out beyond<br />
September 2031.<br />
The act also provides funding to USDA<br />
for the following programs:<br />
n $1 billion to provide conservation<br />
technical assistance through the Natural<br />
Resources Conservation Service (NRCS)<br />
n $300 million to establish a program<br />
to quantify carbon sequestration and<br />
carbon dioxide, methane, and nitrous<br />
oxide emissions<br />
The Rural Development and Agricultural<br />
Credit provision appropriates $14<br />
billion for rural develop and lending<br />
projects, including:<br />
n $1 billion for forgivable loans under<br />
the Rural Electrification Act of 1936 for<br />
electric generation from renewable energy<br />
sources for resale to others<br />
n $1.97 billion for eligible projects<br />
under the Rural Energy for America Program<br />
(REAP)<br />
n $500 million for new biofuels infrastructure<br />
to increase the sale and use of<br />
agricultural commodity-based fuels<br />
n $9.7 billion for USDA grant assistance<br />
to rural electrical cooperatives for<br />
renewal energy projects that promote<br />
long-term resiliency, reliability, and affordability<br />
of rural electric systems<br />
RELIEF FOR BORROWERS<br />
WITH AT-RISK OPERATIONS<br />
The act allocates $3.1 billion for distressed<br />
borrowers for the cost of loans or<br />
loan modifications. The USDA is directed<br />
to provide relief to agricultural operations<br />
at financial risk “as expeditiously as<br />
possible.” Additionally, the act allocates<br />
$125 million to provide technical assistance<br />
to underserved farmers, ranchers,<br />
and foresters.<br />
The Feed and<br />
Grain Store team<br />
members shown:<br />
(Far right) Bryan<br />
Wenzel and Mark Gleason.<br />
(Right) Brett Moore and<br />
Joanne Lee.<br />
(Below) Mark Meyer, Ray<br />
Klooster, and Brent LaMaack.<br />
It takes a team...<br />
AND WE’VE GOT ONE!<br />
GRAIN HAULING • LIVESTOCK FEED<br />
THE FEED AND GRAIN STORE<br />
...where we put customer service first — YOU are our top priority.<br />
415 1st St, DeWitt, IA • (563) 659-9236<br />
76 EASTERN IOWA FARMER | FALL 2022 eifarmer.com
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