Application for coverage, service fee, premium, transfers of coverage, and acreage report.

CFR · 2024-01-01 · US · Title 7

(a) Except as provided in paragraph (i) of this section, with respect to each crop, commodity, or acreage, producers (b) The service fee or certification of eligibility for a service fee waiver specified in paragraph (g) of this section must accompany the application for coverage in order for it to be considered filed. The service fee is: (1) For applications filed by April 7, 2019, $250 per crop per administrative county, up to $750 per producer per administrative county, not to exceed $1,875 per producer; and (2) For applications filed on or after April 8, 2019, $325 per crop per administrative county, up to $825 per producer per administrative county, not to exceed $1,950 per producer. (c) The service fee will be applied per administrative county by crop and by planting period, as determined by FSA. (d) Producers who elect buy-up coverage must pay a premium, in addition to the service fee, equal to the lesser of: (1) The product obtained by multiplying: (i) A 5.25-percent premium fee; and (ii) The applicable payment limit; or (2) The sum of the premiums for each eligible crop, with the premium for each eligible crop obtained by multiplying: (i) The producer's share of the eligible crop; (ii) The number of acres devoted to the eligible crop; (iii) The approved yield; (iv) The coverage level elected by the producer; (v) The average market price; and (vi) A 5.25-percent premium fee. (e) For value loss crops, premiums will be equal to the lesser of: (1) The product obtained by

official document · source cfr-2024 · id 7:§ 1437.7