Title 7 — AgricultureRelease 119-73
§905 Fees for certain loan guarantees
Title 7 › Chapter CHAPTER 31— - RURAL ELECTRIFICATION AND TELEPHONE SERVICE › Subchapter SUBCHAPTER I— - RURAL ELECTRIFICATION › § 905
Summary
If a borrower asks, the Secretary must collect an upfront fee to cover the cost of an electrification baseload generation loan guarantee. The fee must equal the loan guarantee’s cost as defined in section 661a(5)(C) of title 2, and the money used to pay it cannot come from any loan or debt made or guaranteed by the federal government.
Full Legal Text
Title 7, §905
Agriculture — Source: USLM XML via OLRC
(a)For electrification baseload generation loan guarantees, the Secretary shall, at the request of the borrower, charge an upfront fee to cover the costs of the loan guarantee.
(b)The fee described in subsection (a) for a loan guarantee shall be equal to the costs of the loan guarantee (within the meaning of section 661a(5)(C) of title 2).
(c)Funds received from a borrower to pay the fee described in this section shall not be derived from a loan or other debt obligation that is made or guaranteed by the Federal Government.
Legislative History
Notes & Related Subsidiaries
Editorial Notes
Prior Provisions
A prior section 905, acts May 20, 1936, ch. 432, title I, § 5, 49 Stat. 1365; Sept. 21, 1944, ch. 412, title V, § 502(b), 58 Stat. 739; Oct. 28, 1949, ch. 776, § 2, 63 Stat. 948; Oct. 13, 1994, Pub. L. 103–354, title II, § 235(a)(13), 108 Stat. 3221, related to loans for electrical and plumbing equipment and persons eligible for such loans, prior to repeal by Pub. L. 104–127, title VII, § 774(a), Apr. 4, 1996, 110 Stat. 1150.
Reference
Citations & Metadata
Citation
7 U.S.C. § 905
Title 7 — Agriculture
Last Updated
Apr 6, 2026
Release point: 119-73