The term “substantially underserved trust area” means a community in “trust land” (as defined in section
3765 of title
38) with respect to which the Secretary determines has a high need for the benefits of an eligible program.
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
(4)shall only make loans or loan guarantees that are found to be financially feasible and that provide eligible program benefits to substantially underserved trust areas.
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—
(1)the progress of the initiative implemented under subsection (b); and
(2)recommendations for any regulatory or legislative changes that would be appropriate to improve services to substantially underserved trust areas.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
An empty table indicates that we see no relevant changes listed in the classification tables. If you suspect that our system may be missing something, please double-check with the Office of the Law Revision Counsel.