7 U.S.C. § 936f: Substantially underserved…

Summary

The Secretary can set up a program to find and improve access to Rural Utilities Service (RUS) benefits for communities on trust land that need them most. "Eligible program" means a program run by RUS and authorized in certain parts of federal law. "Substantially underserved trust area" means a community on trust land that the Secretary finds has a high need for these benefits. To make this work, the Secretary can offer loans or loan guarantees with interest rates as low as 2 percent and longer repayment terms; waive some rules like matching funds or credit support to help build or fix infrastructure; give top funding priority to projects in these areas; and approve only loans that are financially feasible and deliver RUS benefits. The Secretary must report to Congress within 1 year after enactment and annually thereafter on progress and any recommended rule or law changes.

Title 7, §936f

Agriculture, Source: USLM XML via OLRC

(a)Definitions

In this section: (1) Eligible program

(2)Substantially underserved trust area

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.

(b)Initiative

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.

(d)Report

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.

Notes & Related Subsidiaries

Editorial Notes

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. Codification Pub. L. 110–234 and Pub. L. 110–246 enacted identical sections. Pub. L. 110–234 was repealed by section 4(a) of Pub. L. 110–246.

Statutory Notes and Related Subsidiaries

Effective Date

Enactment of this section and repeal of Pub. L. 110–234 by Pub. L. 110–246 effective May 22, 2008, the date of enactment of Pub. L. 110–234, see section 4 of Pub. L. 110–246, set out as a note under section 8701 of this title.

§936f Substantially Underserved Trust Areas