(a) DefinitionsIn this section:
(1) Eligible programThe term “eligible program” means a program administered by the Rural Utilities Service and authorized in—
(c) Authority of SecretaryIn 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;
(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—
(1)
the progress of the initiative implemented under subsection (b); and
(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.
{'misc': '', 'cleanpath': '/uscode/text/7/936f', 'headtext': ' Substantially underserved trust areas', 'cfr_titles': [{'title': '7', 'parts': [{'part': '1786', 'cleanpath': '/cfr/text/7/part-1786', 'headtext': 'PREPAYMENT OF RUS GUARANTEED AND INSURED LOANS TO ELECTRIC AND TELEPHONE BORROWERS'}, {'part': '1787', 'cleanpath': '/cfr/text/7/part-1787', 'headtext': 'THE “BUY AMERICAN” REQUIREMENT'}]}], 'section': '936f'}