Annual payments.

CFR · 2024-01-01 · US · Title 7

(a) Annual payments will be made in such amount and in accordance with such time schedule as may be agreed upon and specified in the BCAP contract. (b) Based on the regulations in § 1410.42 of this chapter and as determined by CCC, annual payments include a payment based on all or a percentage of: (1) A weighted average soil rental rate for cropland; (2) The applicable marginal pastureland rental rate for all other land except for nonindustrial private forest land; (3) For forest land, the average county rental rate for cropland as adjusted for forest land productivity for nonindustrial private forest land; and (4) Any incentive payment as determined by CCC. (c) The annual payment will be divided among the participants on a single contract as agreed to in such contract, as determined by CCC. (d) A participant that has an established eligible crop and is therefore not eligible for establishment payments under § 1450.212 may be eligible for annual payments under the provisions of this section. (e) In the case of a contract succession, annual payments will be divided between the predecessor and the successor participants as agreed to among the participants and approved by CCC. If there is no agreement among the participants, annual payments will be divided in such manner deemed appropriate by the Deputy Administrator and such distribution may be prorated based on the actual days of ownership of the property by each party. (f) Annual payments will be reduced, as determined by CCC

official document · source cfr-2024 · id 7:§ 1450.214