The Agricultural Act of 1956 (P.L. 84-540) created the Soil Bank Program (Title I was called the Soil Bank Act), addressed the disposal of Commodity Credit Corporation (CCC) inventories of surplus stocks, contained commodity support program provisions, and contained forestry provisions.[1] 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 basis in crop years 1956 through 1959 in return for payments. The Conservation Reserve Program allowed producers to retire cropland under contracts of 3, 5, or 10 years in return for annual payments. The Soil Bank Act was repealed by Section 601 of the Food and Agriculture Act of 1965 (P.L. 89-321). The Conservation Reserve portion of the Soil Bank was a model for the subsequent Conservation Reserve Program (CRP), enacted in 1985.
References
- ^ Peters,Gerhard; Woolley, John T. "Dwight D. Eisenhower: "Statement by the President Upon Signing the Agricultural Act of 1956" May 28, 1956". The American Presidency Project. University of California - Santa Barbara. Retrieved June 25, 2013.
This article incorporates public domain material from Jasper Womach. Report for Congress: Agriculture: A Glossary of Terms, Programs, and Laws, 2005 Edition (PDF). Congressional Research Service.
