Definition of Noninsured Assistance Program (NAP)

0-9
a
b
c
d
e
f
g
h
i
j
k
l
m
n
o
p
q
r
s
t
u
v
w
y
z

search

TeachMeFinance.com - explain Noninsured Assistance Program (NAP)



Noninsured Assistance Program (NAP)

The term 'Noninsured Assistance Program (NAP)' as it applies to the area of agriculture can be defined as 'Producers who grow a crop that is currently not eligible for crop insurance may be eligible for a direct payment under the Farm Service Agency’s noninsured assistance program (NAP). NAP has permanent authority under the Federal Crop Insurance Reform Act of 1994 and was designed to replace ad-hoc farm disaster legislation that was enacted nearly every year between 1988 and 1993. For a producer of an noninsured crop to become eligible for a payment, area-wide losses for that crop must be at least 35% of normal yields. Once the 35% area-wide threshold is reached, an individual producer must then experience a minimum crop loss of 50%. A noninsured producer then receives a payment comparable to an insured producer under catastrophic crop insurance coverage 60% of the market price on losses in excess of 50%. A producer of a noninsured crop is subject to a payment limit of $100,000 per person and is ineligible for a payment if the producer’s qualifying gross revenues exceed $2 million'.

Previous 5 Terms:
Nonfuel use (of energy)
Nonfungible product
nongame wildlife
Nonhydrocarbon gases
nonindustrial private forestland (NIPF)
Next 5 Terms:
nonliving
Nonmethane volatile organic compounds (NMVOC)
Non-Methane Volatile Organic Compounds (NMVOCs)
Nonmoney income
Nonoperating interest




About the author

Mark McCracken

Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English".


Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.