Soil Bank Law and Legal Definition
Soil bank is a federal agricultural program promoted by the U.S. Department of Agriculture to divert land to soil-enriching crops. Here farmers are paid not to grow crops or to grow non-commercial vegetation. Soil bank stabilizes the commodity prices, preserves soil quality, and promotes soil conservation. For instance, a farmer who normally plants corn in his/her land will be asked by the federal government to hold the land out of production for a year, to avoid the surplus of corn production. The farmer will be given subsidy by the federal government for holding his/her land out of production for a year.
