Reporting dates and guidelines announced
By Teri Moss, County Executive Director
927 Central Ave., Grant NE
The Direct and Counter-Cyclical Payment Program (DCP) and the Average Crop Revenue Election (ACRE) Program are being offered for the 2013 crop year under the 2008 Farm Bill Extension. All participants may choose to enroll in either DCP or ACRE for the 2013 crop year.
DCP and ACRE sign-up for 2013 crops began on Feb. 19. The final date to enroll in ACRE is June 3. The final date to enroll in DCP is Aug. 2.
Our office will be scheduling and emailing appointments for your convenience. If you are unable to make the appointment, please contact the office and we will be happy to reschedule. Unlike prior years, appointment postcards will not be mailed.
Foreign Investors Must Report Holding
Foreign investors with an interest in U.S. agricultural lands are required to report their holdings and any transactions to the Secretary of Agriculture.
Any foreign person who acquires or transfers any interest, other than a security interest, in agricultural land in the United States is required by law to report the transaction no later than 90 days after the date of the transaction.
Foreign investors must file Agricultural Foreign Investment Disclosure Act Reports (FSA-153) with the Farm Service Agency in the county in which the land is located. The Perkins County FSA Office is located at 927 Central Ave, Grant.
Failure to file a report, filing a late report or filing an inaccurate report can result in a penalty with fines up to 25 percent of the fair market value of the agricultural land.
For purposes of the act, agricultural land is defined as any land used for farming, ranching or timber production, if the tracts are 10 acres or more in size in aggregate.
Disclosure reports are also required when there are changes in land use. For example, reports are required when land use changes from nonagricultural to agricultural or from agricultural to nonagricultural.
Foreign investors must also file a report when there is a change in the status of ownership. For example, if the status of the owner changes from foreign to non-foreign, from non-foreign to foreign or from foreign to foreign.
The reporting requirement became law in late 1978 when the Agricultural Foreign Investment Disclosure Act was signed into law.
The data gained from these disclosures is used in the preparation of periodic reports to the president and Congress concerning the effect of such holdings upon family farms and rural communities.