Sec. 6401. Rural energy savings program
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Section 6407 of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8107a ) is amended— in subsection (c)— by redesignating paragraphs
(4)through
(7)as paragraphs
(5)through (8), respectively; by inserting after paragraph
(3)the following: The Secretary shall not include any debt incurred under this section in the calculation of a borrower’s debt-equity ratio for purposes of eligibility for loans made pursuant to the Rural Electrification Act of 1936 ( 7 U.S.C. 901 et. seq.). ; and by adding at the end the following: The Secretary shall take appropriate steps to streamline the accounting requirements imposed on borrowers under this section while maintaining adequate assurances of repayment of the loan. ; in subsection (d)(1)(A), by striking 3 percent and inserting 5 percent ; by redesignating subsection
(h)as subsection (i); by inserting after subsection
(g)the following: Not later than 120 days after the end of each fiscal year, the Secretary shall submit to the Committees on Agriculture and Appropriations of the House of Representatives and the Committees on Agriculture, Nutrition, and Forestry and Appropriations of the Senate a report that describes— the number of applications received under this section in such fiscal year; the number of loans made to eligible entities under this section in such fiscal year; and the recipients of such loans. ; and in subsection (i), as so redesignated, by striking 2018 and inserting 2023 .
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