USA RICE FARM BILL UPDATE

Maintenance and Enhancement of the Price Loss Coverage Program

• Reference Price: $14/cwt. for long- and medium-grain with an increase to Temperate Japonica’s reference price (124% of $14/cwt.)
• Payment Yield: One-time, voluntary update to payment yields that would go into effect for the 2020 crop year
• Actively Engaged Rules: Expands the definition of “family” to include nephews, nieces, and first cousins
• Sequestration: Applies sequestration cuts before applying the payment limitation, allowing for a true payment limit of $125,000 per individual or $250,000 per couple 

Increase to Loan Rates

• Loan Rate for long- and medium-grain rice increased from $6.50 to $7.00 per cwt.

Maintenance and Enhancement of Conservation Programs

• Reauthorizes the Conservation Stewardship Program (CSP)
• Increases funding for the Environmental Quality Incentives Program (EQIP)
• Funds the Regional Conservation Partnership Program (RCPP) at $300 million per year and provides greater program flexibility