(vi) any other appropriate equipment, 
as determined by the Secretary. 
(2) FUND.—The term ‘‘Fund’’ means the Em-
erald Ash Borer Revolving Loan Fund established 
by subsection (b). 
(3) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of Agriculture, acting through the 
Deputy Chief of the State and Private Forestry or-
ganization. 
(b) ESTABLISHMENT
OF FUND.—There is estab-
lished in the Treasury of the United States a revolving 
fund, to be known as the ‘‘Emerald Ash Borer Revolving 
Loan Fund’’, consisting of such amounts as are appro-
priated to the Fund under subsection (f). 
(c) EXPENDITURES FROM FUND.— 
(1) IN GENERAL.—Subject to paragraph (2), on 
request by the Secretary, the Secretary of the Treas-
ury shall transfer from the Fund to the Secretary 
such amounts as the Secretary determines are nec-
essary to provide loans under subsection (e). 
(2) ADMINISTRATIVE EXPENSES.—An amount 
not exceeding 10 percent of the amounts in the 
Fund shall be available for each fiscal year to pay 
the administrative expenses necessary to carry out 
this section. 
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(d) TRANSFERS OF AMOUNTS.— 
(1) IN GENERAL.—The amounts required to be 
transferred to the Fund under this section shall be 
transferred at least monthly from the general fund 
of the Treasury to the Fund on the basis of esti-
mates made by the Secretary of the Treasury. 
(2) ADJUSTMENTS.—Proper adjustment shall 
be made in amounts subsequently transferred to the 
extent prior estimates were in excess of or less than 
the amounts required to be transferred. 
(e) USES OF FUND.— 
(1) LOANS.— 
(A) IN GENERAL.—The Secretary shall use 
amounts in the Fund to provide loans to eligible 
units of local government to finance purchases 
of authorized equipment to monitor, remove, 
dispose of, and replace infested trees that are 
located— 
(i) on land under the jurisdiction of 
the eligible units of local government; and 
(ii) within the borders of quarantine 
areas infested by the emerald ash borer. 
(B) MAXIMUM
AMOUNT.—The maximum 
amount of a loan that may be provided by the 
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Secretary to an eligible unit of local government 
under this subsection shall be the lesser of— 
(i) the amount that the eligible unit of 
local government has appropriated to fi-
nance purchases of authorized equipment 
to monitor, remove, dispose of, and replace 
infested trees that are located— 
(I) on land under the jurisdiction 
of the eligible unit of local govern-
ment; and 
(II) within the borders of a quar-
antine area infested by the emerald 
ash borer; or 
(ii) $5,000,000. 
(C) INTEREST RATE.—The interest rate on 
any loan made by the Secretary under this 
paragraph shall be a rate equal to 2 percent. 
(D) REPORT.—Not later than 180 days 
after the date on which an eligible unit of local 
government receives a loan provided by the Sec-
retary under subparagraph (A), the eligible unit 
of local government shall submit to the Sec-
retary a report that describes each purchase 
made by the eligible unit of local government 
using assistance provided through the loan. 
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(2) LOAN REPAYMENT SCHEDULE.— 
(A) IN GENERAL.—To be eligible to receive 
a loan from the Secretary under paragraph (1), 
in accordance with each requirement described 
in subparagraph (B), an eligible unit of local 
government shall enter into an agreement with 
the Secretary to establish a loan repayment 
schedule relating to the repayment of the loan. 
(B) REQUIREMENTS
RELATING
TO
LOAN 
REPAYMENT
SCHEDULE.—A loan repayment 
schedule established under subparagraph (A) 
shall require the eligible unit of local govern-
ment— 
(i) to repay to the Secretary of the 
Treasury, not later than 1 year after the 
date on which the eligible unit of local gov-
ernment receives a loan under paragraph 
(1), 
and 
semiannually 
thereafter, 
an 
amount equal to the quotient obtained by 
dividing— 
(I) the principal amount of the 
loan (including interest); by 
(II) the total quantity of pay-
ments that the eligible unit of local 
government is required to make dur-
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ing the repayment period of the loan; 
and 
(ii) not later than 20 years after the 
date on which the eligible unit of local gov-
ernment receives a loan under paragraph 
(1), to complete repayment to the Sec-
retary of the Treasury of the loan made 
under this section (including interest). 
(f) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated to the Fund such sums 
as are necessary to carry out this section. 
SEC. 3. COOPERATIVE AGREEMENTS RELATING TO EMER-
ALD ASH BORER PREVENTION ACTIVITIES. 
Any cooperative agreement entered into after the 
date of enactment of this Act between the Secretary of 
Agriculture and a State relating to the prevention of emer-
ald ash borer infestation shall allow the State to provide 
any cost-sharing assistance or financing mechanism pro-
vided to the State under the cooperative agreement to a 
unit of local government of the State that— 
(1) is engaged in any activity relating to the 
prevention of emerald ash borer infestation; and 
(2) is capable of documenting each emerald ash 
borer infestation prevention activity generally carried 
out by— 
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(A) the Department of Agriculture; or 
(B) the State department of agriculture 
that has jurisdiction over the unit of local gov-
ernment. 
Æ 
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