THe most recent farm bill eliminated a number of specially earmarked conservation programs and put funding to address those resource concerns into programs such as the Environmental Quality Incentives Program (EQIP) and the Conservation Stewardship Program (CSP). CSP has been around for a while with limited funding. The new farm bill has made it one of NRCS's bread and butter program. It funds the so called "good" players in the conservation world. Producers are rewarded for their good stewardship, and encouraged to enhance the conservation work they have already implemented.
Projects are ranked based at least partly on enhancement practices that may further improve conservation on the land. Precision farming practices are one of the enhancements. Others include, cover crops, soil testing,tissue testing, drainage water management, nitrogen management, integrated pest management, and transition to organic farming. The link above will give you information and has other links to lead you through the whole application process.
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