Business / Agriculture / Optional Flex Acreage: Under the planting flexibility provision of the Agricultural Act of 1949, as amended by the FACT Act of 1990, producers could choose to plant up to 25% of the crop acreage base to other CCC-specified crops (except fruits and vegetables) without a reduction in crop acreage bases on the farm, but receive no deficiency payments on this acreage. The Omnibus Budget Reconciliation Act of 1990 further amended the 1949 Act to make a 15% reduction in payment acreage mandatory. The remaining 10% was optional flex acreage. Optional flex acreage was eligible for deficiency payments when planted to the program crop. Optional flex acres no longer exist under the FAIR Act of 1996.
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Flex Verb Synonyms: bend, give, stretch, curve
Flex Noun Synonyms: wire, lead, cord, cable, extension
Optional Noun Synonyms: voluntary, discretionary or discretional, elective, facultative, free, spontaneous, uncoerced, unforced, non-compulsory, uncompulsory, non-mandatory, unmandatory, non-requisite, unrequisite
Business / Agriculture / Permitted Acreage: The acreage on which a farm program participant is permitted to grow a program crop after satisfying acreage reduction requirements. For example, when a 10% acreage reduction program is in effect for MORE
Business / Finance / Optional Payment Bond: A bond whose principal and/or interest may be paid in foreign or domestic currency at the discretion of the bondholder. MORE