Rural Electrification Administration Technical Amendments Act
PL 94-570 (H.R.12207), enacted 10/20/1976

PUBLIC LAW 94-570—OCT. 20, 1976 
90 STAT. 2701 
Public Law 94-570 
94th Congress 
An Act 
To amend the Rural Electrification Act of 1936, as amended, to correct unin-
tended inequities in the interest rate criteria for borrowers from the Rural 
Electrification Administration, and to make other technical amendments. 
Be it enacted hy the Senate and House of Representatives 
of the 
United States of America 
in Congress assembled^ That this Act may 
be cited as the "Rural Electrification Administration 
Technical 
Amendments Act of 1976". 
SEC. 2. Section 301(a) (4) of the Rural Electrification Act of 1936, 
as amended, is amended to strike the semicolon at the end thereof, 
and add the following: "and the unobligated balances of any funds 
made available for loans under the item 'Rural Electrification Admin-
istration' in the Department of Agriculture and Agriculture-Environ-
mental and Consumer Protection Appropriations Acts;". 
SEC. 3. Section 305(b) of the Rural Electrification Act of 1936, as 
amended, is amended— 
(1) by striking the words "meets 'either of the following 
conditions"; 
(2) by striking out all of paragraph (1) thereof and inserting 
in lieu thereof the following: 
"(1) in the case of a telephone borrower, had at the end of the 
most recent calendar year ending at least six months before 
approval of the loan, an average subscriber density of three or 
fewer per mile; or"; 
(3) by striking out all of paragraph (2) thereof through and 
including the words "telephone borrowers" and inserting in lieu 
thereof the following: 
"(2) in the case of an electric borrower, had at the end of the 
most recent calendar year ending at least six months before 
approval of the loan, an average consumer density of two or fewer 
per mile or an average adjusted plant revenue ratio of over 9.0, 
such ratio being a simple average of the ratios obtained by divid-
ing the sum of its distribution plant and general plant by its 
annual gross revenue less cost of power for that calendar year 
and the two immediately preceding calendar years. As used in 
^ this subsection the sum of distribution plant and general plant 
shall be the total of the amounts shown in accounts numbered 360 
through and including 399 of the uniform system of accounts 
approved, as of the effective date of this amendment, by the 
Administrator, for use by Rural Electrification Administration 
borrowers; gross revenue shall be the amount shown in account 
numbered 400 of said system of accounts; and the cost of power 
shall be the total of amounts shown in accounts numbered 500 
through and including 573 of said system of accounts as the same 
is constituted"; 
Oct. 20, 1976 
[H.R. 12207] 
Rural 
Electrification 
Administration 
Technical 
Amendments 
Act of 1976. 
7 u s e 901 note 
7 u s e 931. 
Insured loans. 
7 u s e 935. 
9-194 O—78—pt. 2 
78 
90 STAT. 2702 
PUBLIC LAW 94-570—OCT. 20, 1976 
(4) by inserting the words "to a telephone or electric borrower" 
following the words "make a loan" in the proviso to paragraph 
(2) thereof. 
SEC. 4. This Act shall take effect upon enactment, except that insured 
loans made pursuant to applications for such loans which would other-
wise lose eligibility for special rate financing upon such enactment, 
received by the Rural Electrification Administration and still pending 
on the date of enactment of this Act, shall bear interest as determined 
under section 305 (b^ of the Rural Electrification Act of 1936 before 
its amendment by this Act. 
Approved October 20, 1976. 
Effective 
date. 
7 u s e 935 note. 
7USC 931. 
LEGISLATIVE HISTORY: 
HOUSE REPORT No. 94-1025 (Comm. on Agriculture). 
SENATE REPORT No. 94-1314 (Comm. on Agriculture and Forestry). 
CONGRESSIONAL RECORD, Vol. 122 (1976): 
May 3, considered and passed House. 
Sept. 30, considered and passed Senate, amended. 
Oct. 1, House agreed to Senate amendment. 
WEEKLY COMPILATION OF PRESIDENTIAL DOCUMENTS, Vol. 12, No. 43: 
Oct. 21, Presidential statement.