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-CITE-
7 USC Sec. 1926 01/03/2007-EXPCITE-
TITLE 7 - AGRICULTURE
CHAPTER 50 - AGRICULTURAL CREDIT
SUBCHAPTER I - REAL ESTATE LOANS-HEAD-
Sec. 1926. Water and waste facility loans and grants-STATUTE-
(a) In general
(1) The Secretary is also authorized to make or insure loans to
associations, including corporations not operated for profit,
Indian tribes on Federal and State reservations and other federally
recognized Indian tribes, and public and quasi-public agencies to
provide for the application or establishment of soil conservation
practices, shifts in land use, the conservation, development, use,
and control of water, and the installation or improvement of
drainage or waste disposal facilities, recreational developments,
and essential community facilities including necessary related
equipment, all primarily serving farmers, ranchers, farm tenants,
farm laborers, rural businesses, and other rural residents, and to
furnish financial assistance or other aid in planning projects for
such purposes. The Secretary may also make or insure loans to
communities that have been designated as rural empowerment zones or
rural enterprise communities pursuant to part I of subchapter U of
chapter 1 of title 26, or as rural enterprise communities pursuant
to section 766 of the Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 1999
(Public Law 105-277; 112 Stat. 2681, 2681-37), to provide for the
installation or improvement of essential community facilities
including necessary related equipment, and to furnish financial
assistance or other aid in planning projects for such purposes. The
Secretary may also make loans to any borrower to whom a loan has
been made under the Rural Electrification Act of 1936 (7 U.S.C. 901
et seq.), for the conservation, development, use, and control of
water, and the installation of drainage or waste disposal
facilities, primarily serving farmers, ranchers, farm tenants, farm
laborers, rural businesses, and other rural residents. When any
loan made for a purpose specified in this paragraph is sold out of
the Agricultural Credit Insurance Fund as an insured loan, the
interest or other income thereon paid to an insured holder shall be
included in gross income for purposes of chapter 1 of title 26.
With respect to loans of less than $500,000 made or insured under
this paragraph that are evidenced by notes and mortgages, as
distinguished from bond issues, borrowers shall not be required to
appoint bond counsel to review the legal validity of the loan
whenever the Secretary has available legal counsel to perform such
review.
(2) Water, waste disposal, and wastewater facility grants. -
(A) Authority. -
(i) In general. - The Secretary is authorized to make grants
to such associations to finance specific projects for works for
the development, storage, treatment, purification, or
distribution of water or the collection, treatment, or disposal
of waste in rural areas.
(ii) Amount. - The amount of any grant made under the
authority of this subparagraph shall not exceed 75 per centum
of the development cost of the project to serve the area which
the association determines can be feasibly served by the
facility and to adequately serve the reasonably foreseeable
growth needs of the area.
(iii) Grant rate. - The Secretary shall fix the grant rate
for each project in conformity with regulations issued by the
Secretary that shall provide for a graduated scale of grant
rates establishing higher rates for projects in communities
that have lower community population and income levels.
(B) Revolving funds for financing water and wastewater
projects. -
(i) In general. - The Secretary may make grants to qualified
private, nonprofit entities to capitalize revolving funds for
the purpose of providing financing to eligible entities for -
(I) predevelopment costs associated with proposed water and
wastewater projects or with existing water and wastewater
systems; and
(II) short-term costs incurred for replacement equipment,
small-scale extension services, or other small capital
projects that are not part of the regular operations and
maintenance activities of existing water and wastewater
systems.(ii) Eligible entities. - To be eligible to obtain financing
from a revolving fund under clause (i), an eligible entity must
be eligible to obtain a loan, loan guarantee, or grant under
paragraph (1) or this paragraph.
(iii) Maximum amount of financing. - The amount of financing
made to an eligible entity under this subparagraph shall not
exceed -
(I) $100,000 for costs described in clause (i)(I); and
(II) $100,000 for costs described in clause (i)(II).(iv) Term. - The term of financing provided to an eligible
entity under this subparagraph shall not exceed 10 years.
(v) Administration. - The Secretary shall limit the amount of
grant funds that may be used by a grant recipient for
administrative costs incurred under this subparagraph.
(vi) Annual report. - A nonprofit entity receiving a grant
under this subparagraph shall submit to the Secretary an annual
report that describes the number and size of communities served
and the type of financing provided.
(vii) Authorization of appropriations. - There are authorized
to be appropriated to carry out this subparagraph $30,000,000
for each of fiscal years 2002 through 2007.
(3) No grant shall be made under paragraph (2) of this subsection
in connection with any project unless the Secretary determines that
the project (i) will serve a rural area which, if such project is
carried out, is not likely to decline in population below that for
which the project was designed, (ii) is designed and constructed so
that adequate capacity will or can be made available to serve the
present population of the area to the extent feasible and to serve
the reasonably foreseeable growth needs of the area, and (iii) is
necessary for an orderly community development consistent with a
comprehensive community water, waste disposal, or other development
plan of the rural area.
(4)(A) The term "development cost" means the cost of construction
of a facility and the land, easements, and rights-of-way, and water
rights necessary to the construction and operation of the facility.
(B) The term "project" shall include facilities providing central
service or facilities serving individual properties, or both.
(5) Application requirements. - Not earlier than 60 days before a
preliminary application is filed for a loan under paragraph (1) or
a grant under paragraph (2) for a water or waste disposal purpose,
a notice of the intent of the applicant to apply for the loan or
grant shall be published in a general circulation newspaper. The
selection of engineers for a project design shall be done by a
request for proposals by the applicant.
(6) The Secretary may make grants aggregating not to exceed
$30,000,000 in any fiscal year to public bodies or such other
agencies as the Secretary may determine having authority to prepare
comprehensive plans for the development of water or waste disposal
systems in rural areas which do not have funds available for
immediate undertaking of the preparation of such plan.
(7) Repealed. Pub. L. 107-171, title VI, Sec. 6020(b)(1), May 13,
2002, 116 Stat. 363.
(8) In each instance where the Secretary receives two or more
applications for financial assistance for projects that would serve
substantially the same group of residents within a single rural
area, and one such application is submitted by a city, town, county
or other unit of general local government, he shall, in the absence
of substantial reasons to the contrary, provide such assistance to
such city, town, county or other unit of general local government.
(9) Conformity with state drinking water standards. - No Federal
funds shall be made available under this section for a water system
unless the Secretary determines that the water system will make
significant progress toward meeting the standards established under
title XIV of the Public Health Service Act (commonly known as the
"Safe Drinking Water Act") (42 U.S.C. 300f et seq.).
(10) Conformity with federal and state water pollution control
standards. - No Federal funds shall be made available under this
section for a water treatment discharge or waste disposal system
unless the Secretary determines that the effluent from the system
conforms with applicable Federal and State water pollution control
standards.
(11) Rural business opportunity grants. -
(A) In general. - The Secretary may make grants, not to exceed
$1,500,000 annually, to public bodies, private nonprofit
community development corporations or entities, or such other
agencies as the Secretary may select to enable the recipients -
(i) to identify and analyze business opportunities, including
opportunities in export markets, that will use local rural
economic and human resources;
(ii) to identify, train, and provide technical assistance to
existing or prospective rural entrepreneurs and managers;
(iii) to establish business support centers and otherwise
assist in the creation of new rural businesses, the development
of methods of financing local businesses, and the enhancement
of the capacity of local individuals and entities to engage in
sound economic activities;
(iv) to conduct regional, community, and local economic
development planning and coordination, and leadership
development; and
(v) to establish centers for training, technology, and trade
that will provide training to rural businesses in the
utilization of interactive communications technologies to
develop international trade opportunities and markets.(B) Criteria. - In awarding the grants, the Secretary shall
consider, among other criteria to be established by the Secretary
-
(i) the extent to which the applicant provides development
services in the rural service area of the applicant; and
(ii) the capability of the applicant to accomplish the
activities described in the relevant clauses of subparagraph
(A).(C) Coordination. - The Secretary shall ensure, to the maximum
extent practicable, that assistance provided under this paragraph
is coordinated with and delivered in cooperation with similar
services or assistance provided to rural residents by the
Cooperative State Research, Education, and Extension Service or
other Federal agencies.
(D) Authorization of appropriations. - There are authorized to
be appropriated to carry out this paragraph $15,000,000 for each
of fiscal years 1996 through 2007.
(12)(A) The Secretary shall, in cooperation with institutions
eligible to receive funds under the Act of July 2, 1862 (12 Stat.
503-505, as amended; 7 U.S.C. 301-305, 307 and 308), or the Act of
August 30, 1890 (26 Stat. 417-419, as amended; 7 U.S.C. 321-326 and
328), including the Tuskegee Institute and State, substate, and
regional planning bodies, establish a system for the dissemination
of information and technical assistance on federally sponsored or
funded programs. The system shall be for the use of institutions
eligible to receive funds under the Act of July 2, 1862 (12 Stat.
503-505, as amended; 7 U.S.C. 301-305, 307, and 308), or the Act of
August 30, 1890 (26 Stat. 417-419, as amended; 7 U.S.C. 321-326 and
328), including the Tuskegee Institute and State, substate, and
regional planning bodies, and other persons concerned with rural
development.
(B) The informational system developed under this paragraph shall
contain all pertinent information, including, but not limited to,
information contained in the Federal Procurement Data System,
Federal Assistance Program Retrieval System, Catalogue of Federal
Domestic Assistance, Geographic Distribution of Federal Funds,
United States Census, and Code of Federal Regulations.
(C) The Secretary shall obtain from all other Federal departments
and agencies comprehensive, relevant, and applicable information on
programs under their jurisdiction that are operated in rural areas.
(D) Of the sums authorized to be appropriated to carry out the
provisions of this chapter, not more than $1,000,000 per year may
be expended to carry out the provisions of this paragraph.
(13) In the making of loans and grants for community waste
disposal and water facilities under paragraphs (1) and (2) of this
subsection the Secretary shall accord highest priority to the
application of any municipality or other public agency (including
an Indian tribe on a Federal or State reservation or other
federally recognized Indian tribal group) in a rural community
having a population not in excess of five thousand five hundred and
which, in the case of water facility loans, has a community water
supply system, where the Secretary determines that due to
unanticipated diminution or deterioration of its water supply,
immediate action is needed, or in the case of waste disposal, has a
community waste disposal system, where the Secretary determines
that due to unanticipated occurrences the system is not adequate to
the needs of the community. The Secretary shall utilize the Soil
Conservation Service in rendering technical assistance to
applicants under this paragraph to the extent he deems appropriate.
(14) Rural water and wastewater technical assistance and training
programs. -
(A) In general. - The Secretary may make grants to private
nonprofit organizations for the purpose of enabling them to
provide to associations described in paragraph (1) of this
subsection technical assistance and training to -
(i) identify, and evaluate alternative solutions to, problems
relating to the obtaining, storage, treatment, purification, or
distribution of water or the collection, treatment, or disposal
of waste in rural areas;
(ii) prepare applications to receive financial assistance for
any purpose specified in paragraph (2) of this subsection from
any public or private source; and
(iii) improve the operation and maintenance practices at any
existing works for the storage, treatment, purification, or
distribution of water or the collection, treatment, or disposal
of waste in rural areas.(B) Selection priority. - In selecting recipients of grants to
be made under subparagraph (A), the Secretary shall give priority
to private nonprofit organizations that have experience in
providing the technical assistance and training described in
subparagraph (A) to associations serving rural areas in which
residents have low income and in which water supply systems or
waste facilities are unhealthful.
(C) Funding. - Not less than 1 nor more than 3 percent of any
funds appropriated to carry out paragraph (2) of this subsection
for any fiscal year shall be reserved for grants under
subparagraph (A) unless the applications, qualifying for grants,
received by the Secretary from eligible nonprofit organizations
for the fiscal year total less than 1 per centum of those funds.(15) In the case of water and waste disposal facility projects
serving more than one separate rural community, the Secretary shall
use the median population level and the community income level of
all the separate communities to be served in applying the standards
specified in paragraph (2) of this subsection and section
1927(a)(3)(A) of this title.
(16) Grants under paragraph (2) of this subsection may be used to
pay the local share requirements of another Federal grant-in-aid
program to the extent permitted under the law providing for such
grant-in-aid program.
(17)(A) In the approval and administration of a loan made under
paragraph (1) for a water or waste disposal facility, the Secretary
shall consider fully any recommendation made by the loan applicant
or borrower concerning the technical design and choice of materials
to be used for such facility.
(B) If the Secretary determines that a design or materials, other
than those that were recommended, should be used in the water or
waste disposal facility, the Secretary shall provide such applicant
or borrower with a comprehensive justification for such
determination.
(18) In making or insuring loans or making grants under this
subsection, the Secretary may not condition approval of such loans
or grants upon any requirement, condition or certification other
than those specified under this chapter.
(19) Community facilities grant program. -
(A) In general. - The Secretary may make grants, in a total
amount not to exceed $10,000,000 for any fiscal year, to
associations, units of general local government, nonprofit
corporations, Indian tribes (as such term is defined under
section 450b(e) of title 25),(!1) and federally recognized Indian
tribes to provide the Federal share of the cost of developing
specific essential community facilities in rural areas.(B) Federal share. -
(i) In general. - Except as provided in clauses (ii) and
(iii), the Secretary shall, by regulation, establish the amount
of the Federal share of the cost of the facility under this
paragraph.
(ii) Maximum amount. - The amount of a grant provided under
this paragraph for a facility shall not exceed 75 percent of
the cost of developing the facility.
(iii) Graduated scale. - The Secretary shall provide for a
graduated scale for the amount of the Federal share provided
under this paragraph, with higher Federal shares for facilities
in communities that have lower community population and income
levels, as determined by the Secretary.(C) Reservation of funds for child day care facilities. -
(i) In general. - For each fiscal year, not less than 10
percent of the funds made available to carry out this paragraph
shall be reserved for grants to pay the Federal share of the
cost of developing and constructing day care facilities for
children in rural areas.
(ii) Release. - Funds reserved under clause (i) for a fiscal
year shall be reserved only until April 1 of the fiscal year.(20) Community facilities grant program for rural communities
with extreme unemployment and severe economic depression. -
(A) Definition of not employed rate. - In this paragraph, the
term "not employed rate", with respect to a community, means the
percentage of individuals over the age of 18 who reside within
the community and who are ready, willing, and able to be employed
but are unable to find employment, as determined by the
department of labor of the State in which the community is
located.
(B) Grant authority. - The Secretary may make grants to
associations, units of general local government, nonprofit
corporations, and Indian tribes (as defined in section 450b of
title 25) in a State to provide the Federal share of the cost of
developing specific essential community facilities in rural
communities with respect to which the not employed rate is
greater than the lesser of -
(i) 500 percent of the average national unemployment rate on
November 9, 2000, as determined by the Bureau of Labor
Statistics; or
(ii) 200 percent of the average national unemployment rate
during the Great Depression, as determined by the Bureau of
Labor Statistics.(C) Federal share. - Paragraph (19)(B) shall apply to a grant
made under this paragraph.
(D) Authorization of appropriations. - There are authorized to
be appropriated to carry out this paragraph $50,000,000 for
fiscal year 2001 and such sums as are necessary for each
subsequent fiscal year, of which not more than 5 percent of the
amount made available for a fiscal year shall be available for
community planning and implementation.
(E) Rural broadband. - Notwithstanding subparagraph (C), the
Secretary may make grants to state (!2) agencies for use by
regulatory commissions in states (!2) with rural communities
without local dial-up Internet access or broadband service to
establish a competitively, technologically neutral grant program
to telecommunications carriers or cable operators that establish
common carrier facilities and services which, in the commission's
determination, will result in the long-term availability to such
communities of affordable broadband services which are used for
the provision of high speed Internet access.(21) Community facilities grant program for rural communities
with high levels of out-migration or loss of population. -
(A) Grant authority. - The Secretary may make grants to
associations, units of general local government, nonprofit
corporations, and Indian tribes (as defined in section 450b of
title 25) in a State to provide the Federal share of the cost of
developing specific essential community facilities in any
geographic area -
(i) that is represented by -
(I) any political subdivision of a State;
(II) an Indian tribe on a Federal or State reservation; or
(III) other federally recognized Indian tribal group;(ii) that is located in a rural area (as defined in section
2009 (!3) of this title);(iii) with respect to which, during the most recent 5-year
period, the net out-migration of inhabitants, or other
population loss, from the area equals or exceeds 5 percent of
the population of the area; and
(iv) that has a median household income that is less than the
nonmetropolitan median household income of the United States.(B) Federal share. - Paragraph (19)(B) shall apply to a grant
made under this paragraph.
(C) Authorization of appropriations. - There are authorized to
be appropriated to carry out this paragraph $50,000,000 for
fiscal year 2001 and such sums as are necessary for each
subsequent fiscal year, of which not more than 5 percent of the
amount made available for a fiscal year shall be available for
community planning and implementation.(22) Rural water and wastewater circuit rider program. -
(A) In general. - The Secretary shall establish a national
rural water and wastewater circuit rider program that is based on
the rural water circuit rider program of the National Rural Water
Association that (as of May 13, 2002) receives funding from the
Secretary, acting through the Rural Utilities Service.
(B) Relationship to existing program. - The program established
under subparagraph (A) shall not affect the authority of the
Secretary to carry out the circuit rider program for which funds
are made available under the heading "rural community advancement
program" in title III of the Agriculture, Rural Development, Food
and Drug Administration, and Related Agencies Appropriations Act,
2002 (115 Stat. 719).
(C) Authorization of appropriations. - There is authorized to
be appropriated to carry out this paragraph $15,000,000 for
fiscal year 2003 and each fiscal year thereafter.(23) Multijurisdictional regional planning organizations. -
(A) Grants. - The Secretary shall provide grants to
multijurisdictional regional planning and development
organizations to pay the Federal share of the cost of providing
assistance to local governments to improve the infrastructure,
services, and business development capabilities of local
governments and local economic development organizations.
(B) Priority. - In determining which organizations will receive
a grant under this paragraph, the Secretary shall give priority
to an organization that -
(i) serves a rural area that, during the most recent 5-year
period -
(I) had a net out-migration of inhabitants, or other
population loss, from the rural area that equals or exceeds 5
percent of the population of the rural area; or
(II) had a median household income that is less than the
nonmetropolitan median household income of the applicable
State; and(ii) has a history of providing substantive assistance to
local governments and economic development organizations.(C) Federal share. - A grant provided under this paragraph
shall be for not more than 75 percent of the cost of providing
assistance described in subparagraph (A).
(D) Maximum amount of grants. - The amount of a grant provided
to an organization under this paragraph shall not exceed
$100,000.
(E) Authorization of appropriations. - There is authorized to
be appropriated to carry out this paragraph $30,000,000 for each
of fiscal years 2003 through 2007.(24) Loan guarantees for water, wastewater, and essential
community facilities loans. -
(A) In general. - The Secretary may guarantee a loan made to
finance a community facility or water or waste facility project
in a rural area, including a loan financed by the net proceeds of
a bond described in section 142(a) of title 26.
(B) Requirements. - To be eligible for a loan guarantee under
subparagraph (A), an individual or entity offering to purchase
the loan shall demonstrate to the Secretary that the person has -(i) the capabilities and resources necessary to service the
loan in a manner that ensures the continued performance of the
loan, as determined by the Secretary; and
(ii) the ability to generate capital to provide borrowers of
the loan with the additional credit necessary to properly
service the loan.(25) Tribal college and university essential community
facilities. -
(A) In general. - The Secretary may make grants to tribal
colleges and universities (as defined in section 1059c of title
20) to provide the Federal share of the cost of developing
specific tribal college or university essential community
facilities in rural areas.
(B) Federal share. -
(i) In general. - Except as provided in clauses (ii) and
(iii), the Secretary shall, by regulation, establish the
maximum percentage of the cost of the facility that may be
covered by a grant under this paragraph.
(ii) Maximum amount. - The amount of a grant provided under
this paragraph for a facility shall not exceed 75 percent of
the cost of developing the facility.
(iii) Graduated scale. - The Secretary shall provide for a
graduated scale of the percentages of the cost covered by a
grant made under this paragraph that provides higher
percentages for facilities in communities that have lower
community population and income levels, as determined by the
Secretary.(C) Authorization of appropriations. - There is authorized to
be appropriated to carry out this paragraph $10,000,000 for each
of fiscal years 2003 through 2007.
(b) Curtailment or limitation of service prohibited
The service provided or made available through any such
association shall not be curtailed or limited by inclusion of the
area served by such association within the boundaries of any
municipal corporation or other public body, or by the granting of
any private franchise for similar service within such area during
the term of such loan; nor shall the happening of any such event be
the basis of requiring such association to secure any franchise,
license, or permit as a condition to continuing to serve the area
served by the association at the time of the occurrence of such
event.
(c) Repealed. Pub. L. 91-606, title III, Sec. 302(2), Dec. 31,
1970, 84 Stat. 1759
(d) Carryover of unused authorizations for appropriations
Any amounts appropriated under this section shall remain
available until expended, and any amounts authorized for any fiscal
year under this section but not appropriated may be appropriated
for any succeeding fiscal year.-SOURCE-
(Pub. L. 87-128, title III, Sec. 306, Aug. 8, 1961, 75 Stat. 308;
Pub. L. 87-703, title IV, Sec. 401(2), Sept. 27, 1962, 76 Stat.
632; Pub. L. 89-240, Sec. 1, Oct. 7, 1965, 79 Stat. 931; Pub. L. 89-
769, Sec. 6(b), Nov. 6, 1966, 80 Stat. 1318; Pub. L. 90-488, Secs.
3-5, Aug. 15, 1968, 82 Stat. 770; Pub. L. 91-524, title VIII, Sec.
806(a), Nov. 30, 1970, 84 Stat. 1383; Pub. L. 91-606, title III,
Sec. 302(2), Dec. 31, 1970, 84 Stat. 1759; Pub. L. 91-617, Sec.
1(a), Dec. 31, 1970, 84 Stat. 1855; Pub. L. 92-419, title I, Secs.
104-112, Aug. 30, 1972, 86 Stat. 658, 659; Pub. L. 91-524, title
VIII, Sec. 816(c), as added Pub. L. 93-86, Sec. 1(27)(B), Aug. 10,
1973, 87 Stat. 240; Pub. L. 95-334, title I, Secs. 104-107(a), Aug.
4, 1978, 92 Stat. 421, 422; Pub. L. 96-355, Sec. 7, Sept. 24, 1980,
94 Stat. 1174; Pub. L. 96-438, Sec. 2(1), Oct. 13, 1980, 94 Stat.
1871; Pub. L. 97-35, title I, Sec. 121, Aug. 13, 1981, 95 Stat.
368; Pub. L. 99-198, title XIII, Sec. 1304(a), Dec. 23, 1985, 99
Stat. 1519; Pub. L. 99-514, Sec. 2, Oct. 22, 1986, 100 Stat. 2095;
Pub. L. 101-624, title XXIII, Secs. 2316(b), 2321, 2328, 2329,
2341, 2342, 2393, Nov. 28, 1990, 104 Stat. 4008, 4010, 4017, 4026,
4027, 4057; Pub. L. 102-237, title VII, Sec. 701(a), (h)(1)(A),
(B), Dec. 13, 1991, 105 Stat. 1879, 1880; Pub. L. 103-129, Sec. 3,
Nov. 1, 1993, 107 Stat. 1366; Pub. L. 103-354, title II, Sec.
235(b)(5), Oct. 13, 1994, 108 Stat. 3222; Pub. L. 104-127, title
VII, Secs. 741(a), 758, 763, Apr. 4, 1996, 110 Stat. 1122, 1132,
1148; Pub. L. 106-387, Sec. 1(a) [title VII, Sec. 773], Oct. 28,
2000, 114 Stat. 1549, 1549A-45; Pub. L. 106-472, title III, Secs.
304(a), 305(a), Nov. 9, 2000, 114 Stat. 2070, 2071; Pub. L. 107-76,
title VII, Sec. 762, Nov. 28, 2001, 115 Stat. 743; Pub. L. 107-171,
title VI, Secs. 6001-6007(a), 6008, 6020(b)(1), May 13, 2002, 116
Stat. 352-355, 363.)-REFTEXT-
REFERENCES IN TEXT
Section 766 of the Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 1999,
referred to in subsec. (a)(1), is Pub. L. 105-277, div. A, Sec.
101(a)[title VII, Sec. 766], Oct. 21, 1998, 112 Stat. 2681, 2681-
37, which is not classified to the Code.
The Rural Electrification Act of 1936, referred to in subsec.
(a)(1), is act May 20, 1936, ch. 432, 49 Stat. 1363, as amended,
which is classified generally to chapter 31 (Sec. 901 et seq.) of
this title. For complete classification of this Act to the Code,
see section 901 of this title and Tables.
The Public Health Service Act, referred to in subsec. (a)(9), is
act July 1, 1944, ch. 373, 58 Stat. 682, as amended. Title XIV of
the Act, known as the Safe Drinking Water Act, is classified
principally to subchapter XII (Sec. 300f et seq.) of chapter 6A of
Title 42, The Public Health and Welfare. For complete
classification of these Acts to the Code, see Short Title note and
Short Title of 1974 Amendments note set out under section 201 of
Title 42 and Tables.
Act of July 2, 1862 (12 Stat. 503-505, as amended; 7 U.S.C. 301-
305, 307 and 308), referred to in subsec. (a)(12)(A), is act July
2, 1862, ch. 130, 12 Stat. 503, as amended, popularly known as the
Morrill Act and also as the First Morrill Act, which is classified
generally to subchapter I (Sec. 301 et seq.) of chapter 13 of this
title. For complete classification of this Act to the Code, see
Short Title note set out under section 301 of this title and
Tables.
Act of August 30, 1890 (26 Stat. 417-419, as amended; 7 U.S.C.
321-326 and 328), referred to in subsec. (a)(12)(A), is act Aug.
30, 1890, ch. 841, 26 Stat. 417, as amended, popularly known as the
Agricultural College Act of 1890 and also as the Second Morrill
Act, which is classified generally to subchapter II (Sec. 321 et
seq.) of chapter 13 of this title. For complete classification of
this Act to the Code, see Short Title note set out under section
321 of this title and Tables.
For definition of "this chapter", referred to in subsec.
(a)(12)(D), (18), see note set out under section 1921 of this
title.
Section 2009 of this title, referred to in subsec.
(a)(21)(A)(ii), was subsequently amended, and no longer defines the
term "rural area".
The Agriculture, Rural Development, Food and Drug Administration,
and Related Agencies Appropriations Act, 2002, referred to in
subsec. (a)(22)(B), is Pub. L. 107-76, Nov. 28, 2001, 115 Stat.
704. Provisions under the heading "rural community advancement
program" in title III of the Act appear at 115 Stat. 719 and are
not classified to the Code.-MISC1-
AMENDMENTS
2002 - Subsec. (a)(1). Pub. L. 107-171, Sec. 6001, inserted after
first sentence "The Secretary may also make or insure loans to
communities that have been designated as rural empowerment zones or
rural enterprise communities pursuant to part I of subchapter U of
chapter 1 of title 26, or as rural enterprise communities pursuant
to section 766 of the Agriculture, Rural Development, Food and Drug
Administration, and Related Agencies Appropriations Act, 1999
(Public Law 105-277; 112 Stat. 2681, 2681-37), to provide for the
installation or improvement of essential community facilities
including necessary related equipment, and to furnish financial
assistance or other aid in planning projects for such purposes."
Subsec. (a)(2). Pub. L. 107-171, Sec. 6002, inserted heading,
designated existing provisions as subpar. (A) and inserted heading,
designated first sentence of subpar. (A) as cl. (i), inserted
heading, and struck out "aggregating not to exceed $590,000,000 in
any fiscal year" after "authorized to make grants", designated
second sentence of subpar. (A) as cl. (ii), inserted heading, and
substituted "subparagraph" for "paragraph", designated third
sentence of subpar. (A) as cl. (iii) and inserted heading, and
added subpar. (B).
Subsec. (a)(7). Pub. L. 107-171, Sec. 6020(b)(1), struck out
heading and text of par. (7). Text read as follows: "For the
purpose of water and waste disposal grants and direct and
guaranteed loans provided under paragraphs (1) and (2), the terms
'rural' and 'rural area' mean a city, town, or unincorporated area
that has a population of no more than 10,000 inhabitants."
Subsec. (a)(11)(D). Pub. L. 107-171, Sec. 6003, substituted
"$15,000,000" for "$7,500,000" and "2007" for "2002".
Subsec. (a)(19)(C). Pub. L. 107-171, Sec. 6004, added subpar.
(C).
Subsec. (a)(22) to (25). Pub. L. 107-171, Secs. 6005-6007(a),
6008, added pars. (22) to (25).
2001 - Subsec. (a)(20)(E). Pub. L. 107-76 added subpar. (E).
2000 - Subsec. (a)(19)(A). Pub. L. 106-387, which directed
amendment of section 306(a)(19)(A) of the Consolidated Farmers Home
Administration Act of 1961 by inserting ", Indian tribes (as such
term is defined under section 450b(e) of title 25)," after
"nonprofit corporations", was executed to this section, which is
section 306(a)(19)(A) of the Consolidated Farm and Rural
Development Act, to reflect the probable intent of Congress.
Subsec. (a)(20). Pub. L. 106-472, Sec. 304(a), added par. (20).
Subsec. (a)(21). Pub. L. 106-472, Sec. 305(a), added par. (21).
1996 - Subsec. (a)(2). Pub. L. 104-127, Sec. 741(a)(1),
substituted "$590,000,000" for "$500,000,000".
Subsec. (a)(5). Pub. L. 104-127, Sec. 758, added par. (5).
Subsec. (a)(7). Pub. L. 104-127, Sec. 741(a)(2), added par. (7)
and struck out former par. (7) which read as follows: "As used in
this chapter, the terms 'rural' and 'rural area' shall not include
any area in any city or town which has a population in excess of
ten thousand inhabitants, except that (A) for the purpose of loans
for essential community facilities under subsection (a)(1) of this
section, the terms 'rural' and 'rural area' may include any area in
any city or town that has a population not in excess of twenty
thousand inhabitants; and (B) for purposes of loans and grants for
private business enterprises under sections 1924(b), 1932 and
1942(b), (c), and (d) of this title the terms 'rural' and 'rural
area' may include all territory of a State that is not within the
outer boundary of any city having a population of fifty thousand or
more and its immediately adjacent urbanized and urbanizing areas
with a population density of more than one hundred persons per
square mile, as determined by the Secretary of Agriculture
according to the latest decennial census of the United States:
Provided, That special consideration for such loans and grants
shall be given to areas other than cities having a population of
more than twenty-five thousand."
Subsec. (a)(9), (10). Pub. L. 104-127, Sec. 741(a)(3), added
pars. (9) and (10) and struck out former pars. (9) and (10) which
read as follows:
"(9) No Federal funds shall be authorized for use unless it be
certified by the appropriate State water pollution control agency
that the water supply system authorized will not result in
pollution of waters of the State in excess of standards established
by that agency.
"(10) In the case of sewers and waste disposal systems, no
Federal funds shall be advanced hereunder unless the appropriate
State water pollution control agency shall certify that the
effluent therefrom shall conform with appropriate State and Federal
water pollution control standards when and where established."
Subsec. (a)(11). Pub. L. 104-127, Sec. 741(a)(3), added par. (11)
and struck out former par. (11) which authorized grants to public
bodies, private nonprofit community development corporations or
entities, or other agencies to enable such recipients to (1)
identify and analyze business opportunities, including
opportunities in export markets, that would use local rural
economic and human resources, (2) identify, train, and provide
technical assistance to existing or prospective rural entrepreneurs
and managers, (3) establish business support centers and otherwise
assist in creation of new rural businesses, development of methods
of financing local businesses, and enhancing capacity of local
individuals and entities to engage in sound economic activities,
and (4) conduct regional, community, and local economic development
planning and coordination, and leadership development.
Subsec. (a)(14). Pub. L. 104-127, Sec. 741(a)(6)(A)-(D)(i),
inserted par. heading and headings for subpars. (A) to (C), and
realigned margins of subpars. and cls. (i) to (iii) of subpar. (A).
Pub. L. 104-127, Sec. 741(a)(4), (5), redesignated par. (16) as
(14) and struck out former par. (14) which read as follows:
"(14)(A) The Secretary, under such reasonable rules and
conditions as he shall establish, shall make grants to eligible
volunteer fire departments for up to 50 per centum of the cost of
firefighting equipment needed by such departments but which such
departments are unable to purchase through the resources otherwise
available to them, and for the cost of the training necessary to
enable such departments to use such equipment efficiently.
"(B) For the purposes of this subsection, the term 'eligible
volunteer fire department' means any established volunteer fire
department in a rural town, village, or unincorporated area where
the population is less than two thousand but greater than two
hundred, as reasonably determined by the Secretary."
Subsec. (a)(14)(C). Pub. L. 104-127, Sec. 741(a)(6)(D)(ii), which
directed substitution of "3 percent of any funds appropriated" for
"2 per centum of any funds provided in appropriations Acts", was
executed by making the substitution for "2 per centum of any funds
provided in Appropriations Acts", to reflect the probable intent of
Congress.
Subsec. (a)(15). Pub. L. 104-127, Sec. 741(a)(4), (5),
redesignated par. (17) as (15) and struck out former par. (15)
which authorized making or insuring of loans to associations,
including corporations not operated for profit, Indian tribes on
Federal and State reservations and other federally recognized
Indian tribes, and public and quasi-public agencies, for purpose of
financing construction, acquisition, and operation of transmission
facilities for any electric system owned and operated by a public
body located in a rural area which was, as of October 1, 1976,
receiving bulk power from designated agencies of Department of the
Interior.
Subsec. (a)(16) to (18). Pub. L. 104-127, Sec. 741(a)(5),
redesignated pars. (18) to (20) as (16) to (18), respectively.
Former pars. (16) to (18) redesignated (14) to (16), respectively.
Subsec. (a)(19). Pub. L. 104-127, Sec. 763, added par. (19).
Pub. L. 104-127, Sec. 741(a)(5), redesignated par. (19) as (17).
Subsec. (a)(20). Pub. L. 104-127, Sec. 741(a)(5), redesignated
par. (20) as (18).
1994 - Subsec. (a)(15)(C), (D). Pub. L. 103-354 redesignated
subpar. (D) as (C) and struck out former subpar. (C) which read as
follows: "The Administrator of the Rural Electrification
Administration shall administer loans made or insured under this
paragraph."
1993 - Subsec. (a)(1). Pub. L. 103-129 inserted after first
sentence "The Secretary may also make loans to any borrower to whom
a loan has been made under the Rural Electrification Act of 1936 (7
U.S.C. 901 et seq.), for the conservation, development, use, and
control of water, and the installation of drainage or waste
disposal facilities, primarily serving farmers, ranchers, farm
tenants, farm laborers, rural businesses, and other rural
residents."
1991 - Subsec. (a)(11)(B)(ii). Pub. L. 102-237, Sec. 701(a)(1),
in subcl. (I) inserted "and" after semicolon and in subcl. (II)
substituted a period for "; and".
Subsec. (a)(12)(D), (20). Pub. L. 102-237, Sec. 701(h)(1)(A),
(B), substituted "this chapter" for "this Act".
Subsec. (a)(21). Pub. L. 102-237, Sec. 701(a)(2), struck out par.
(21) which was identical to par. (20).
1990 - Subsec. (a)(1). Pub. L. 101-624, Sec. 2328, inserted
"rural businesses," after "farm laborers,".
Subsec. (a)(2). Pub. L. 101-624, Sec. 2321, struck out ":
Provided, That for fiscal years commencing after September 30,
1981, such grants may not exceed $154,900,000 in any fiscal year"
after "in rural areas".
Subsec. (a)(3). Pub. L. 101-624, Sec. 2316(b), struck out "and
not inconsistent with any planned development provided in any
State, multijurisdictional, county, or municipal plan approved by
competent authority for the area in which the rural community is
located, and the Secretary shall require the submission of all
applications for financial assistance under this section to the
multijurisdictional substate areawide general purpose planning and
development agency that has been officially designated as a
clearinghouse agency under Office of Management and Budget Circular
A-95 and to the county or municipal government having jurisdiction
over the area in which the proposed project is to be located for
review and comment within a designated period of time not to exceed
30 days concerning among other considerations, the effect of the
project upon the areawide goals and plans of such agency or
government. No loan under this section shall be made that is
inconsistent with any multijurisdictional planning and development
district areawide plan of such agency. The Secretary is authorized
to reimburse such agency or government for the cost of making the
required review. Until October 1, 1973, the Secretary may make
grants prior to the completion of the comprehensive plan, if the
preparation of such plan has been undertaken for the area" after
"of the rural area".
Subsec. (a)(11). Pub. L. 101-624, Secs. 2341, 2342, amended par.
(11) generally. Prior to amendment, par. (11) read as follows: "The
Secretary may make grants, not to exceed $15,000,000 annually, to
public bodies or such other agencies as the Secretary may select to
provide rural development technical assistance, rural community
leadership development, and community and areawide rural
development planning."
Subsec. (a)(20). Pub. L. 101-624, Sec. 2329, added par. (20).
Subsec. (a)(21). Pub. L. 101-624, Sec. 2393, added par. (21).
1986 - Subsec. (a)(1), (15)(B). Pub. L. 99-514 substituted
"Internal Revenue Code of 1986" for "Internal Revenue Code of
1954", which for purposes of codification was translated as "title
26" thus requiring no change in text.
1985 - Subsec. (a)(2). Pub. L. 99-198 provided for graduated
scale of grant rates for each project and higher rates in
communities having lower community population and income levels.
Subsec. (a)(16) to (19). Pub. L. 99-198 added pars. (16) to (19).
1981 - Subsec. (a)(2). Pub. L. 97-35 inserted provisions limiting
grants for fiscal years after Sept. 30, 1981.
1980 - Subsec. (a)(7). Pub. L. 96-438 provided that for the
purpose of loans for essential community facilities under
subsection (a)(1) of this section, terms "rural" and "rural area"
may include any area in any city or town with a population not in
excess of twenty thousand.
Subsec. (a)(11) to (15). Pub. L. 96-355 in par. (11) substituted
provisions authorizing annual grants not to exceed $15,000,000 for
rural development technical assistance, rural community leadership
development, etc., for provisions authorizing annual grants not to
exceed $10,000,000 for preparation of comprehensive plans for rural
development or designated aspects of such rural development, added
par. (12), and redesignated former pars. (12) to (14) as (13) to
(15), respectively.
1978 - Subsec. (a)(1). Pub. L. 95-334, Sec. 104, inserted
provisions respecting bond counsel requirements for loans under
$500,000.
Subsec. (a)(2). Pub. L. 95-334, Sec. 105, substituted
"$500,000,000" for "$300,000,000" and "75" for "50".
Subsec. (a)(7). Pub. L. 95-334, Sec. 106, struck out references
to the Commonwealth of Puerto Rico and the Virgin Islands.
Subsec. (a)(14). Pub. L. 95-334, Sec. 107(a), added par. (14).
1973 - Subsec. (a)(13). Pub. L. 91-524, title VIII, Sec. 816(c),
as added by Pub. L. 93-86 added par. (13).
1972 - Subsec. (a)(1). Pub. L. 92-419, Sec. 104(1), (2),
authorized loans to Indian tribes on Federal and State reservations
and other federally recognized Indian tribes and included as an
allowable use provision for essential community facilities
including necessary related equipment, respectively.
Subsec. (a)(2). Pub. L. 92-419, Sec. 105, substituted
"$300,000,000" for "$100,000,000".
Subsec. (a)(3). Pub. L. 92-419, Secs. 106, 107, substituted
"project" for "facility" where first appearing; in item (i),
substituted "project" for "facility" and inserted in such text ",
if such project is carried out,"; in item (ii), substituted "will
or can be" for "will be or can be"; substituted "and (iii)" for "or
(iii)" and in such item (iii), substituted "an orderly community
development consistent with a comprehensive community water, waste
disposal, or other development plan" and "development provided in
any State, multijurisdictional, county, or municipal plan approved
by competent authority" for "orderly community development
consistent with a comprehensive community water or sewer
development plan" and "development under State, county, or
municipal plans approved as official plans by competent authority",
substituted "Secretary shall require the submission of all
applications for financial assistance under this section to the
multijurisdictional substate areawide general purpose planning and
development agency that has been officially designated as a
clearinghouse agency under Office of Management and Budget Circular
A-95 and to the county or municipal government having jurisdiction
over the area in which the proposed project is to be located for
review and comment within a designated period of time not to exceed
30 days concerning among other considerations, the effect of the
project upon the areawide goals and plans of such agency or
government" for "Secretary shall establish regulations requiring
the submission of all applications for financial assistance under
this chapter to the county or municipal government in which the
proposed project is to be located for review and comment by such
agency within a designated period of time"; prohibited loans
inconsistent with multijurisdictional planning and development
district areawide plan of the agency; authorized agency or
government reimbursement for cost of making the review; and
extended authority for making grants prior to completion of the
comprehensive plan from Oct. 1, 1971 to Oct. 1, 1973.
Subsec. (a)(5). Pub. L. 92-419, Sec. 110, struck out provisions
of former par. (5) which prohibited any loan or grant under subsec.
(a) of this section which would cause the unpaid principal
indebtedness of any association under this chapter and Act Aug. 28,
1937, as amended (superseded by this chapter), together with amount
of any assistance in the form of a grant to exceed $4,000,000 at
any one time.
Subsec. (a)(6). Pub. L. 92-419, Sec. 108, substituted
"$30,000,000" for "$15,000,000", struck out "official" before
"comprehensive plans", and substituted "waste disposal systems" for
"sewer systems".
Subsec. (a)(7). Pub. L. 92-419, Sec. 109, substituted definition
of "rural" and "rural area" as excluding an area in a city or town
with a population in excess of ten thousand inhabitants for prior
provision for rural areas for purposes of water and waste disposal
projects excluding an area in a city or town with a population in
excess of 5,500 inhabitants, provided exception provision and
special consideration for loans and grants to areas other than
cities having a population of more than twenty-five thousand.
Subsec. (a)(11), (12). Pub. L. 92-419, Secs. 111, 112, added
pars. (11) and (12).
1970 - Subsec. (a)(1). Pub. L. 91-617 required inclusion in gross
income of the interest or other income paid to an insured holder
when any loan made for a purpose specified in subsec. (a)(1) is
sold out of the Agricultural Credit Insurance Fund as an insured
loan.
Subsec. (c). Pub. L. 91-606 repealed subsec. (c), added by Pub.
L. 89-769, Sec. 6(b), Nov. 6, 1966, 80 Stat. 1318, which related to
loans to associations in areas suffering major disasters. See
section 4401 et seq. of Title 42, The Public Health and Welfare.
Subsec. (d). Pub. L. 91-524 added subsec. (d).
1968 - Subsec. (a). Pub. L. 90-488 substituted "$100,000,000" for
"$50,000,000" in par. (2), "1971" for "1968" in par. (3), and
"$15,000,000" for "$5,000,000" in par. (6), respectively.
1966 - Subsec. (c). Pub. L. 89-769 added subsec. (c).
1965 - Subsec. (a). Pub. L. 89-240 designated existing provisions
as par. (1), struck out "including the development of recreational
facilities" after "shifts in land use", substituted "drainage or
waste disposal facilities" for "drainage facilities", inserted "and
recreational developments", deleted provisions which prohibited
loans which would cause an association's unpaid principal
indebtedness to exceed $500,000, in the case of direct loans and
$1,000,000 in the case of insured loans at any one time, and added
pars. (2) to (10).
1962 - Subsec. (a). Pub. L. 87-703 authorized loans to be made or
insured to provide for the application or establishment of shifts
in land use including the development of recreational facilities.EFFECTIVE DATE OF 1991 AMENDMENT
Amendment by section 701(a) of Pub. L. 102-237 effective as if
included in the provision of the Food, Agriculture, Conservation,
and Trade Act of 1990, Pub. L. 101-624, to which the amendment
relates, and amendment by section 701(h)(1)(A), (B) of Pub. L. 102-
237 to any provision specified therein effective as if included in
act that added provision so specified at the time such act became
law, see section 1101(b)(6), (c) of Pub. L. 102-237, set out as a
note under section 1421 of this title.EFFECTIVE DATE OF 1980 AMENDMENT
Amendment by Pub. L. 96-355 effective Oct. 1, 1980, see section
10 of Pub. L. 96-355, set out as an Effective Date note under
section 2204b of this title.EFFECTIVE DATE OF 1978 AMENDMENT
Section 105 of Pub. L. 95-334 provided that the amendment made by
that section is effective Oct. 1, 1978.EFFECTIVE DATE OF 1970 AMENDMENTS
Section 1(b) of Pub. L. 91-617 provided that: "The amendment made
by subsection (a) [amending this section] shall apply to the
insured loans sold out of the Agricultural Credit Insurance Fund
after the date of the enactment of this Act [Dec. 31, 1970]."
Amendment by Pub. L. 91-606 effective Dec. 31, 1970, see section
304 of Pub. L. 91-606, set out as a note under section 165 of Title
26, Internal Revenue Code.EFFECTIVE DATE OF 1966 AMENDMENT
Amendment by Pub. L. 89-769 applicable with respect to any major
disaster occurring after Oct. 3, 1964, see section 14 of Pub. L. 89-
769.-TRANS-
TRANSFER OF FUNCTIONS
Powers, duties, and assets of agencies, offices, and other
entities within Department of Agriculture relating to rural
development functions transferred to Rural Development
Administration by section 2302(b) of Pub. L. 101-624.-MISC2-
ASSISTANCE IN RURAL ALASKA
Pub. L. 106-387, Sec. 1(a) [title VII, Sec. 736], Oct. 28, 2000,
114 Stat. 1549, 1549A-33, provided that: "Notwithstanding any other
provision of law, for any fiscal year, in the case of a high cost,
isolated rural area of the State of Alaska that is not connected to
a road system -
"(1) in the case of assistance provided by the Rural Housing
Service for single family housing under title V of the Housing
Act of 1949 (7 [42] U.S.C. 1471 et seq.), the maximum income
level for the assistance shall be 150 percent of the average
income level in metropolitan areas of the State;
"(2) in the case of community facility loans and grants
provided under paragraphs (1) and (19), respectively, of section
306(a) of the Consolidated Farm and Rural Development Act (7
U.S.C. 1926(a)) and assistance provided under programs carried
out by the Rural Utilities Service, the maximum income level for
the loans, grants, and assistance shall be 150 percent of the
average income level in nonmetropolitan areas of the State;
"(3) in the case of a business and industry guaranteed loan
made under section 310B(a)(1) of the Consolidated Farm and Rural
Development Act (7 U.S.C. 1932(a)(1)), to the extent permitted
under that Act, the Secretary of Agriculture shall -
"(A) guarantee the repayment of 90 percent of the principal
and interest due on the loan; and
"(B) charge a loan origination and servicing fee in an amount
not to exceed 1 percent of the amount of the loan; and
"(4) in the case of assistance provided under the Rural
Community Development Initiative for fiscal year 2001 carried out
under the rural community advancement program established under
subtitle E of the Consolidated Farm and Rural Development Act (7
U.S.C. 2009 et seq.), the median household income level, and the
not employed rate, with respect to applicants for assistance
under the Initiative shall be scored on a community-by-community
basis."TEMPORARY EXPANDED ELIGIBILITY OF CERTAIN TIMBER-DEPENDENT
COMMUNITIES IN PACIFIC NORTHWEST FOR LOANS AND GRANTS FROM RURAL
DEVELOPMENT ADMINISTRATION
Pub. L. 103-427, Oct. 31, 1994, 108 Stat. 4373, provided that:
"(a) Findings. - Congress finds the following:
"(1) Timber-dependent communities in the Pacific Northwest have
contributed significantly to the economic needs of the United
States and have helped ensure an adequate national supply of
timber and timber products.
"(2) A significant portion of the timber traditionally
harvested in the Pacific Northwest is derived from Federal forest
lands, and these forests have played an important role in
sustaining local economies.
"(b) Expanded Eligibility. - During the period beginning on the
date of the enactment of this Act [Oct. 31, 1994] and ending on
September 30, 1998, the terms 'rural' and 'rural area', as used in
the Consolidated Farm and Rural Development Act (7 U.S.C. 1921 et
seq.), shall include any town, city, or municipality -
"(1) part or all of which lies within 100 miles of the boundary
of a national forest covered by the Federal document entitled
'Forest Plan for a Sustainable Economy and a Sustainable
Environment', dated July 1, 1993;
"(2) that is located in a county in which at least 15 percent
of the total primary and secondary labor and proprietor income is
derived from forestry, wood products, or forest-related
industries such as recreation and tourism; and
"(3) that has a population of not more than 25,000 inhabitants.
"(c) Effect on State Allotments of Funds. - This section shall
not be taken into consideration in allotting funds to the various
States for purposes of the Consolidated Farm and Rural Development
Act (7 U.S.C. 1921 et seq.), or otherwise affect or alter the
manner under which such funds were allotted to States before the
date of the enactment of this Act [Oct. 31, 1994]."RURAL WASTEWATER TREATMENT CIRCUIT RIDER PROGRAM
Section 2324 of Pub. L. 101-624 directed Secretary to establish
national rural wastewater circuit rider grant program that was to
be modeled after existing National Rural Water Association Rural
Water Circuit Rider Program that received funding from Farmers Home
Administration and authorized $4,000,000 for each fiscal year to
carry out such program, prior to repeal by Pub. L. 104-127, title
VII, Sec. 703, Apr. 4, 1996, 110 Stat. 1108.INTEREST RATE RESTRUCTURING FOR CERTAIN BORROWERS
Pub. L. 100-233, title VI, Sec. 615(b)(2), Jan. 6, 1988, 101
Stat. 1682, provided that: "Effective July 29, 1987, the interest
rate charged on any loan of $2,000,000 or more made on such date
under section 306 [7 U.S.C. 1926] to any nonprofit corporation
shall be the interest rate quoted to such nonprofit corporation by
the Farmers Home Administration on June 22, 1987, in the request
for obligation of funds made with respect to the loan."LEASE OF CERTAIN ACQUIRED PROPERTY
Pub. L. 100-233, title VI, Sec. 620, Jan. 6, 1988, 101 Stat.
1684, provided that: "Notwithstanding any other provision of law,
the Secretary of Agriculture may lease to public or private
nonprofit organizations, for a nominal rent, any facilities
acquired in connection with the disposition of a loan made by the
Secretary under section 306 [7 U.S.C. 1926]. Any such lease shall
be for such reasonable period of time as the Secretary determines
is appropriate."-FOOTNOTE-
(!1) So in original.(!2) So in original. Probably should be capitalized.
(!3) See References in Text note below.