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Payment limitation: The maximum annual amount of
commodity program benefits a person
can receive by law. Persons are defined under payment limitation regulations,
established by USDA, to be individuals, members of
joint operations, or entities such as limited partnerships, corporations,
associations, trusts, and estates that are actively engaged in farming. The
three entity rule limits the number of farms from
which a person can receive program payments. The FAIR Act of 1996
sets payment limits at $40,000 per person per fiscal year on
production flexibility contracts (down from $50,000 on
target price deficiency payments). The limits of
$75,000/person/year with respect to marketing assistance loan
gains and loan deficiency payments for crops of
contract commodities or oilseeds is maintained.
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