7 U.S. Code § 936f. Substantially underserved trust areas
(a) DefinitionsIn this section:
(1) Eligible programThe term “eligible program” means a program administered by the Rural Utilities Service and authorized in—
paragraph (1), (2), (14), (22), or (24) of section 1926(a) of this title or section 1926a, 1926c, 1926d, or 1926e of this title.
(c) Authority of SecretaryIn carrying out subsection (b), the Secretary—
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;
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;
(d) ReportNot 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—
the progress of the initiative implemented under subsection (b); and
recommendations for any regulatory or legislative changes that would be appropriate to improve services to substantially underserved trust areas.
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.