Sec. 6015. Rural water and waste disposal infrastructure
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Section 333 of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1983 ) is amended— by striking require ; in paragraph (1), by inserting require after
(1); in paragraph (2), by inserting , require after 314 ; in paragraph (3), by inserting require after loans, ; in paragraph (4)— by inserting require after
(4); and by striking and after the semicolon; in paragraph (5)— by inserting require after
(5); and by striking the period at the end and inserting ; and ; and by adding at the end the following: with respect to water and waste disposal direct and guaranteed loans provided under section 306, encourage, to the maximum extent practicable, private or cooperative lenders to finance rural water and waste disposal facilities by— maximizing the use of loan guarantees to finance eligible projects in rural communities where the population exceeds 5,500; maximizing the use of direct loans to finance eligible projects in rural communities where the impact on rate payers will be material when compared to financing with a loan guarantee; establishing and applying a materiality standard when determining the difference in impact on rate payers between a direct loan and a loan guarantee; in the case of projects that require interim financing in excess of $500,000, requiring that such projects initially seek such financing from private or cooperative lenders; and determining if an existing direct loan borrower can refinance with a private or cooperative lender, including with a loan guarantee, prior to providing a new direct loan. .
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Sec. 6015
Rural water and waste disposal infrastructure
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