Codification
The authorities provided by each provision of, and each amendment made by, Pub. L. 110–246, as in effect on Sept. 30, 2012, to continue, and the Secretary of Agriculture to carry out the authorities, until the later of Sept. 30, 2013, or the date specified in the provision of, or amendment made by, Pub. L. 110–246, see section 701(a) of Pub. L. 112–240, set out in a 1-Year Extension of Agricultural Programs note under section 8701 of this title.
Pub. L. 110–234 and Pub. L. 110–246 made identical amendments to this section. The amendments by Pub. L. 110–234 were repealed by section 4(a) of Pub. L. 110–246.
Amendments
2018—Subsec. (a). Pub. L. 115–334, § 6505(a)(1), designated existing provisions as par. (1), inserted heading, substituted “basis, if the proceeds of the bonds or notes are used to make utility infrastructure loans, or refinance bonds or notes issued for those purposes, to a borrower that has at any time received, or is eligible to receive, a loan under this chapter.” for “basis if the proceeds of the bonds or notes are used to make loans for any electrification or telephone purpose eligible for assistance under this chapter, including section 904 or 922 of this title or to refinance bonds or notes issued for such purposes.”, and added par. (2).
Subsec. (b)(1). Pub. L. 115–334, § 6505(a)(2)(A), substituted “purposes described in subsection (a)(1).” for “electrification or telephone purposes consistent with this chapter.”
Subsec. (b)(2). Pub. L. 115–334, § 6505(a)(2)(B), (C), redesignated par. (3) as (2) and struck out former par. (2). Prior to amendment, text of par. (2) read as follows: “The Secretary shall not guarantee payment on a bond or note issued by a lender, the proceeds of which are used for the generation of electricity.”
Subsec. (b)(2)(A). Pub. L. 115–334, § 6505(a)(2)(D)(i), substituted “for eligible purposes described in subsection (a)(1)” for “for electrification or telephone purposes”.
Subsec. (b)(2)(C). Pub. L. 115–334, § 6505(a)(2)(D)(ii), substituted “subsection (a)(1)” for “subsection (a)”.
Subsec. (b)(3), (4). Pub. L. 115–334, § 6505(a)(2)(C), redesignated par. (4) as (3). Former par. (3) redesignated (2).
Subsec. (c)(4)(A). Pub. L. 115–334, § 6504(d)(1)(A), substituted “that shall be maintained as required by sections 940c(b)(2) and 940c–2(f) of this title” for “maintained under section 940c(b)(2)(A) of this title”.
Subsec. (c)(4)(B). Pub. L. 115–334, § 6504(d)(1)(B), substituted “940c(b)(2) of this title” for “940c(b)(2)(B) of this title”.
Subsec. (e)(2). Pub. L. 115–334, § 6504(d)(2), substituted “required to be maintained by sections 940c(b)(2) and 940c–2(f) of this title” for “maintained under section 940c(b)(2)(A) of this title”.
Subsec. (f). Pub. L. 115–334, § 6505(a)(3), substituted “2023” for “2018”.
2014—Subsec. (f). Pub. L. 113–79 substituted “2018” for “2012”.
2008—Subsec. (b)(1). Pub. L. 110–246, § 6106(a)(1)(A), substituted “for eligible electrification or telephone purposes consistent with this chapter” for “for electrification or telephone purposes that have been made concurrently with loans approved for such purposes under this chapter”.
Subsec. (b)(4). Pub. L. 110–246, § 6106(a)(1)(B), added par. (4) and struck out former par. (4) which related to prohibition on use of amounts from reduced funding costs for interest rate reduction except for certain concurrent loans.
Subsec. (c)(2), (3). Pub. L. 110–246, § 6106(a)(2), added pars. (2) and (3) and struck out former pars. (2) and (3) which provided that the amount of an annual fee paid for the guarantee would be equal to 30 basis points of the amount of the unpaid principal and directed payment of fees required under subsec. (c) on a semiannual basis.
Subsec. (f). Pub. L. 110–246, § 6106(a)(3), substituted “2012” for “2007”.
Regulations and Implementation
Pub. L. 110–234, title VI, § 6106(b), May 22, 2008, 122 Stat. 1197, and Pub. L. 110–246, § 4(a), title VI, § 6106(b), June 18, 2008, 122 Stat. 1664, 1959, provided that:
“The
Secretary [of Agriculture] shall continue to carry out section 313A of the
Rural Electrification Act of 1936 (
7 U.S.C. 940c–1) in the same manner as on the day before the date of enactment of this Act [
June 18, 2008], except without regard to the limitations prescribed in subsection (b)(1) of that section, until such time as any regulations necessary to carry out the amendments made by this section [amending this section] are fully implemented.”
[Pub. L. 110–234 and Pub. L. 110–246 enacted identical provisions. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246, set out as a note under section 8701 of this title.]
Pub. L. 108–199, div. A, title VII, § 750(b), Jan. 23, 2004, 118 Stat. 38, provided that:
“The
Secretary shall publish a proposed rule to carry out section 313A of the
Rural Electrification Act of 1936 [
7 U.S.C. 940c–1] within 60 days of enactment of this Act [
Jan. 23, 2004].”
Pub. L. 107–171, title VI, § 6101(b), May 13, 2002, 116 Stat. 415, provided that:
“(1) Regulations.—
Not later than 180 days after the date of enactment of this Act [
May 13, 2002], the
Secretary of Agriculture shall promulgate regulations to carry out the amendments made by this section [enacting this section].
“(2) Implementation.—
Not later than 240 days after the date of enactment of this Act [
May 13, 2002], the
Secretary shall implement the amendment made by this section [enacting this section].”
