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    New NISA

    Charlie;

    I see this;

    June 4, 2003

    Better risk management program available to Alberta's producers

    Edmonton... Alberta's producers now only have to apply to one program to access income stabilization and disaster mitigation resources.

    A new Net Income Stabilization Account (NISA) program was today announced as part of the national Agricultural Policy Framework. The new NISA combines the income stabilization aspects of the old NISA program with the disaster mitigation aspects of Alberta's Farm Income Disaster Program (FIDP). As such, FIDP will no longer be offered beyond the 2002 taxation year.

    "The new NISA is a program that will really work for producers," said Shirley McClellan, Deputy Premier and Minister of Agriculture, Food and Rural Development. "Having one program simplifies application procedures and causes the producer less concern and frustration."

    For those producers who have already applied for FIDP in 2003 the claims will be automatically processed under the new program. If producers have already received a payment or advance, additional entitlements if any will be paid out. Agriculture Financial Services Corporation (AFSC) officials will ensure that individuals are made aware of any additional requirements that must be met. AFSC is the provincial crown corporation that currently administers FIDP and will administer the new NISA.

    More information about the new NISA will soon be made available, including details of eligibility and participation. Producers can expect detailed brochures to be delivered to their rural mailboxes in the next few weeks. Over the summer, meetings will be held across the province to inform farmers, farm groups, accountants, and lending institutions about program details.

    For more information, please visit www.AFSC.ca or call AFSC at 1-800-851-5070.

    When are 2003 NISA premiums due?
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