usc:us:7:936f

text: U.S.C. Title 7 - AGRICULTURE 7 U.S.C. United States Code, 2024 Edition Title 7 - AGRICULTURE CHAPTER 31 - RURAL ELECTRIFICATION AND TELEPHONE SERVICE SUBCHAPTER III - RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS Sec. 936f - Substantially underserved trust areas From the U.S. Government Publishing Office, www.gpo.gov §936f. Substantially underserved trust areas (a) Definitions In this section: (1) Eligible program The term "eligible program" means a program administered by the Rural Utilities Service and authorized in— (A) this chapter; or (B) paragraph (1), (2), (14), (22), or (24) of section 1926(a) of this title or section 1926a, 1926c, 1926d, or 1926e of this title. (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. (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.) 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.