This bill establishes a loan program within the Farm Service Agency to assist agricultural producers in purchasing precision agriculture equipment and technology, such as geospatial mapping, data management and analytics software, and network connectivity products and solutions. Under this program, the maximum aggregate loan amount of a precision agriculture loan is $500,000.
Precision agriculture refers to managing, tracking, or reducing crop or livestock production inputs, including seed, feed, fertilizer, chemicals, water, and time, at a heightened level of spatial and temporal granularity to improve efficiencies, reduce waste, and maintain environmental quality.