‘‘CAPITAL INFRASTRUCTURE REVOLVING LOAN PROGRAM 
‘‘SEC. 1603. (a) AUTHORITY TO MAKE AND GUAR-
ANTEE LOANS.— 
‘‘(1) AUTHORITY TO MAKE LOANS.—The Sec-
retary may make loans from the fund established 
under section 1602(d) to any rural entity for 
projects for capital improvements, including— 
‘‘(A) the acquisition of land necessary for 
the capital improvements; 
‘‘(B) the renovation or modernization of 
any building; 
‘‘(C) the acquisition or repair of fixed or 
major movable equipment; and 
‘‘(D) such other project expenses as the 
Secretary determines appropriate. 
‘‘(2) AUTHORITY TO GUARANTEE LOANS.— 
‘‘(A) IN
GENERAL.—The Secretary may 
guarantee the payment of principal and interest 
for loans made to rural entities for projects for 
any capital improvement described in paragraph 
(1) to any non-Federal lender. 
‘‘(B) INTEREST SUBSIDIES.—In the case 
of a guarantee of any loan made to a rural enti-
ty under subparagraph (A), the Secretary may 
pay to the holder of such loan, for and on be-
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half of the project for which the loan was made, 
amounts sufficient to reduce (by not more than 
3 percent) the net effective interest rate other-
wise payable on such loan. 
‘‘(b) AMOUNT OF LOAN.—The principal amount of 
a loan directly made or guaranteed under subsection (a) 
for a project for capital improvement may not exceed 
$5,000,000. 
‘‘(c) FUNDING LIMITATIONS.— 
‘‘(1) GOVERNMENT
CREDIT
SUBSIDY
EXPO-
SURE.—The total of the Government credit subsidy 
exposure under the Credit Reform Act of 1990 scor-
ing protocol with respect to the loans outstanding at 
any time with respect to which guarantees have been 
issued, or which have been directly made, under sub-
section (a) may not exceed $50,000,000 per year. 
‘‘(2) TOTAL AMOUNTS.—Subject to paragraph 
(1), the total of the principal amount of all loans di-
rectly made or guaranteed under subsection (a) may 
not exceed $250,000,000 per year. 
‘‘(d) 
CAPITAL
ASSESSMENT
AND
PLANNING 
GRANTS.— 
‘‘(1) NONREPAYABLE
GRANTS.—Subject to 
paragraph (2), the Secretary may make a grant to 
a rural entity, in an amount not to exceed $50,000, 
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for purposes of capital assessment and business 
planning. 
‘‘(2) LIMITATION.—The cumulative total of 
grants awarded under this subsection may not ex-
ceed $2,500,000 per year. 
‘‘(e) TERMINATION OF AUTHORITY.—The Secretary 
may not directly make or guarantee any loan under sub-
section (a) or make a grant under subsection (d) after 
September 30, 2010.’’. 
(b) RURAL ENTITY DEFINED.—Section 1624 of the 
Public Health Service Act (42 U.S.C. 300s–3) is amended 
by adding at the end the following new paragraph: 
‘‘(15)(A) The term ‘rural entity’ includes— 
‘‘(i) a rural health clinic, as defined in sec-
tion 1861(aa)(2) of the Social Security Act; 
‘‘(ii) any medical facility with at least 1 
bed, but with less than 50 beds, that is located 
in— 
‘‘(I) a county that is not part of a 
metropolitan statistical area; or 
‘‘(II) a rural census tract of a metro-
politan statistical area (as determined 
under the most recent modification of the 
Goldsmith Modification, originally pub-
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