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The Soil Bank Program is a federal program (authorized by the Soil Bank Act, P.L. 84-540, Title I) of the late 1950s and early 1960s that paid farmers to retire land from production for 10 years. It was the predecessor to today’s Conservation Reserve Program (CRP).
The federal government owns 640 million acres, about 28% of the 2.27 billion acres of land in the United States. About 95 per cent of these acres are managed by four agencies: Bureau of Land Management (BLM), the United States National Park Service , the Bureau of Reclamation , or the Fish and Wildlife Service and the United States Forest Service .
The bank site identifies the acreage of the area preserved, enhanced, restored, or created under the mitigation bank. The bank instrument is the formal agreement between regulatory agencies and the bank sponsor which establishes liability, monitoring, and management of the mitigation bank.
There are significant variations regionally; the federal government owns 61.3% of the land area in Alaska, 46.4% of the land area in the 11 contiguous Western states; and 4.2% of the land area of other states. The state with the highest percentage of land held by the federal government is Nevada (80.1%); the states with the lowest percentage of ...
The Soil Bank converted 80% of the cost of converting from crop to conservation land. [3] Annual payments were also provided to participating states. The payments were based on base price per commodity in the amount of land surrendered. [2] In the south, these annual payments varied from about $8.68 per acre in 1956 to about $11.85 per acre in ...
The Soil Bank Act authorized short- and long-term removal of land from production with annual rental payments to participants (Acreage Reserve Program and Conservation Reserve Program, respectively). The Acreage Reserve Program, for wheat, corn, rice, cotton, peanuts, and several types of tobacco, allowed producers to retire land on an annual ...
The Farm Credit System (FCS) in the United States is a nationwide network of borrower-owned lending institutions and specialized service organizations. The Farm Credit System provides more than $373 billion (as of 2022) [1] in loans, leases, and related services to farmers, ranchers, rural homeowners, aquatic producers, timber harvesters, agribusinesses, and agricultural and rural utility ...
Blighted land in Philadelphia. Land banking is the practice of aggregating parcels of land for future sale or development.. While in many countries land banking may refer to various private real estate investment schemes, in the United States it refers to the establishment of quasi-governmental county or municipal authorities tasked with managing an inventory of surplus land.