Agency: Department of Agriculture-Natural Resources Conservation Service
Description:
Funds land set-asides for grassland and wetland conservation. This funding will support easements or interests in land that will most reduce, capture, avoid, or sequester carbon dioxide, methane, or nitrous oxide emissions. For ACEP Agricultural Land Easements (ACEP-ALE) or Wetland Reserve Easements (ACEP-WRE). NRCS will prioritize ACEP-ALE for grasslands in areas of highest risk for conversion to non-grassland uses to prevent the release of soil carbon stores. NRCS will prioritize ACEP-WRE for eligible lands that contain soils high in organic carbon.
Bill Section:
21001(a)(3)
US Code:
16 USC 3865
New or Existing:
Existing
Potential Cost:
$1,400,000,000
Timeline:
FY23-31
Implementation Status/Rulemaking:
On November 21, 2022, USDA released a Request for Information (RFI, NRCS-2022-0015) on how Natural Resources Conservation Service will implement funds received under the Inflation Reduction. Comments were accepted through December 21, 2022: Source
On May 9, 2023, USDA announced changes to its Agricultural Conservation Easement Program (ACEP): Source
Applications for ACEP are accepted throughout the year. Applications for the most recent Inflation Reduction Act national funding cycle were due November 13, 2023.
TCS Notes:
This is a long-established program routinely reauthorized as part of the Farm Bill process. These funds are prioritized “for easements or interests in land that will most reduce, capture, avoid, or sequester carbon dioxide, methane, or nitrous oxide emissions associated with land eligible.”
IRA funds are allocated on a fiscal year basis from 2023 to 2026 and remain available through FY2031
(A) $100,000,000 for fiscal year 2023;
(B) $200,000,000 for fiscal year 2024;
(C) $500,000,000 for fiscal year 2025;
(D) $600,000,000 for fiscal year 2026;
Other TCS Resources:
Agricultural Conservation Spending Bump in Reconciliation Bill