Unlock $22.5M for Biomass Crops & Green Business Growth
Summary
Agricultural businesses can receive up to $500 per acre (or $750 for socially disadvantaged farmers) to establish and grow biomass crops. This program supports your transition to renewable energy and sustainable practices, offering payments for up to 5 or 15 years depending on crop type.
Eligibility
Full Description
The total BCAP program funding for FY 2016 is authorized at $25 million, which includes costs for BCAP matching payments which can be from 10% to 50% of the annual appropriated budget, IT, counsel, and technical assistance. Authorization and FULL appropriation would limit project area funding to $22.5 million. Awards, the selection of a project area, are provided in the form of direct annual rental payments and establishment payment reimbursements for up to 50% of the establishment costs for perennial crops, and capped at $500/acre or $750/acre if a socially disadvantaged farmer. Award ceiling and floor are only suggested amounts for selection priority.
The BCAP was re-authorized by the 2014 Farm Bill. Authorization expires September 30, 2018. All contracts to producers, regardless the length of the approved application, are obligated from current year funds, i.e. from FY 2016 appropriations,and payments will be executed according to the terms of the producer applications.
Approved producer applications maybe up to 5 years for herbaceous crops and may be up to 15 years for woody crops.