This bill incorporates support for precision agriculture practices and technologies into the Conservation Loan Program and reauthorizes the program through FY2029.
Under current law, the Farm Service Agency (FSA) may make or guarantee qualified conservation loans to farmers and ranchers for the implementation of conservation practices approved by the Natural Resources Conservation Service (NRCS). Currently, the program guarantees conservation loans from approved FSA lenders.
Specifically, the bill adds the adoption of precision agriculture practices and technologies to the program’s priority list and the list of conservation activities that may be addressed with loan funds. This allows the Conservation Loan Program to make or guarantee qualified conservation loans to farmers and ranchers for the adoption of these practices and technologies.
Further, the FSA must improve the efficiency and effectiveness of the program’s administrative procedures related to the adoption of these practices and the acquisition of these technologies. This includes streamlining any necessary approvals with the NRCS.
Precision agriculture is a general term describing various crop and livestock management tools and practices that leverage technology (e.g., GPS) to optimize production and sustainability. Precision agriculture technology includes any technology and equipment that directly contributes to a reduction in, or improved efficiency of, inputs used in crop or livestock production (e.g., seed, feed, fertilizer, chemicals, and water).