Thursday, May 01, 2008

Changing Payment Limitation Rules in Midstream

One thing I haven't posted on, nor have I seen much discussion on is "status date". (I think that's the term.) Anyhow, for payment limitation purposes under current law, FSA offices have to determine the way a farming operation is set up as of a certain date, which may be May 1. At least, that's the way it used to be.

So, if Congress changes the rules relating to limitations, the only way they can be fair about it is to extend current rules for 2008 and make the new ones effective for 2009.

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