This bill, called the PRECISE Act, changes several farm programs to encourage use of precision agriculture. It adds precision agriculture and precision agriculture technology to definitions in the Food Security Act. It lets producers use loans and loan guarantees under the Consolidated Farm and Rural Development Act to adopt precision practices and buy precision equipment. It adds precision agriculture as an eligible purpose for rural assistance programs. It allows the Environmental Quality Incentives Program (EQIP) to increase payments for precision agriculture — up to 90 percent of adoption or equipment costs — and allows producers to receive both EQIP payments and a loan or loan guarantee for the same practices. It adds precision agriculture activities to the Conservation Stewardship Program and directs the Secretary to emphasize third-party providers when giving technical assistance for soil health planning.
No publicly available information. The bill text does not include estimated budget amounts or federal cost projections. The text does allow EQIP payment increases (up to 90 percent for precision adoption costs) and expands loan and loan guarantee eligibility, but it does not state total funding or offsets.
Proponents say the bill will promote adoption of technologies that manage inputs more precisely, reduce waste, improve efficiencies, support soil health planning, and help producers implement conservation practices by making financing and higher payments available.
No publicly available information.