7 U.S. Code § 936f - Substantially underserved trust areas
In this section:
(1) Eligible program
The term “eligible program” means a program administered by the Rural Utilities Service and authorized in—
The Secretary, in consultation with local governments and Federal agencies, may implement an initiative to identify and improve the availability of eligible programs in communities in substantially underserved trust areas.
(c) Authority of Secretary
In carrying out subsection (b), the Secretary—
(1) may make available from loan or loan guarantee programs administered by the Rural Utilities Service to qualified utilities or applicants financing with an interest rate as low as 2 percent, and with extended repayment terms;
(2) may waive nonduplication restrictions, matching fund requirements, or credit support requirements from any loan or grant program administered by the Rural Utilities Service to facilitate the construction, acquisition, or improvement of infrastructure;
(3) may give the highest funding priority to designated projects in substantially underserved trust areas; and
Not later than 1 year after the date of enactment of this section and annually thereafter, the Secretary shall submit to Congress a report that describes—
Source(May 20, 1936, ch. 432, title III, § 306F, as added Pub. L. 110–234, title VI, § 6105,May 22, 2008, 122 Stat. 1196, and Pub. L. 110–246, § 4(a), title VI, § 6105,June 18, 2008, 122 Stat. 1664, 1957.)
References in Text
The date of enactment of this section, referred to in subsec. (d), is the date of enactment of Pub. L. 110–246, which was approved June 18, 2008.
Pub. L. 110–234and Pub. L. 110–246enacted identical sections. Pub. L. 110–234was repealed by section 4(a) ofPub. L. 110–246.