Sec. 9. Capital infrastructure revolving loan program
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Part A of title XVI of the Public Health Service Act (42 U.S.C. 300q et seq.) is amended by adding at the end the following new section: The Secretary may make loans from the fund established under section 1602(d) to any rural entity for projects for capital improvements, including— the acquisition of land necessary for the capital improvements; the renovation or modernization of any building; the acquisition or repair of fixed or major movable equipment; and such other project expenses as the Secretary determines appropriate. 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. In the case of a guarantee of any loan made to a rural entity under subparagraph (A), the Secretary may pay to the holder of such loan, for and on behalf of the project for which the loan was made, amounts sufficient to reduce (by not more than 3 percent) the net effective interest rate otherwise payable on such 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. The total of the Government credit subsidy exposure under the Credit Reform Act of 1990 scoring 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 subsection
(a)may not exceed $50,000,000 per year. Subject to paragraph (1), the total of the principal amount of all loans directly made or guaranteed under subsection
(a)may not exceed $250,000,000 per year. Subject to paragraph (2), the Secretary may make a grant to a rural entity, in an amount not to exceed $50,000, for purposes of capital assessment and business planning. The cumulative total of grants awarded under this subsection may not exceed $2,500,000 per year. The Secretary may not directly make or guarantee any loan under subsection
(a)or make a grant under subsection
(d)after January 1, 2015. . 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: The term rural entity includes— a rural health clinic, as defined in section 1861(aa)(2) of the Social Security Act ; any medical facility with at least 1 bed, but with less than 50 beds, that is located in— a county that is not part of a metropolitan statistical area; or a rural census tract of a metropolitan statistical area (as determined under the most recent modification of the Goldsmith Modification, originally published in the Federal Register on February 27, 1992 (57 Fed. Reg. 6725)); a hospital that is classified as a rural, regional, or national referral center under section 1886(d)(5)(C) of the Social Security Act ; and a hospital that is a sole community hospital (as defined in section 1886(d)(5)(D)(iii) of the Social Security Act ). For purposes of subparagraph (A), the fact that a clinic, facility, or hospital has been geographically reclassified under the Medicare program under title XVIII of the Social Security Act shall not preclude a hospital from being considered a rural entity under clause
(i)or
(ii)of subparagraph (A). . Section 1602 of the Public Health Service Act ( 42 U.S.C. 300q–2 ) is amended— in subsection (b)(2)(D), by inserting or 1603(a)(2)(B) after 1601(a)(2)(B) ; and in subsection (d)— in paragraph (1)(C), by striking section 1601(a)(2)(B) and inserting sections 1601(a)(2)(B) and 1603(a)(2)(B) ; and in paragraph (2)(A), by inserting or 1603(a)(2)(B) after 1601(a)(2)(B) .
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- 42 USC 300s–3
- 57 FR 6725
- 42 USC 300q–2
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Sec. 9
Capital infrastructure revolving loan program
Cite42 USC 300s–3
Fed. Reg.57 FR 6725
Cite42 USC 300q–2
Cites 4Cited by 0 across 0 sources