Sec. 6403. Zero and low interest loans for distressed water systems
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Section 306(a) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1926(a) ) is amended by inserting after paragraph
(22)the following: To promote the long-term sustainability and financial viability of eligible rural community waste disposal and water facilities as described in subparagraph (B), for any entity described in subparagraph (C), the Secretary may— make a zero percent interest loan or a 1 percent interest loan pursuant to paragraph (1); forgive the principal or interest, or modify any term or condition of a new or existing loan made pursuant to paragraph (1); refinance all or part of any other loan made for an eligible purpose under paragraph
(1)of this subsection or section 306C; or waive any fee required to insure or guarantee a loan pursuant to paragraph
(1)or (24). To promote the long-term sustainability and financial viability of eligible entities, the Secretary shall— provide assistance to an eligible entity for the purpose of— ensuring the entity has necessary resources to maintain public health, safety, or order; addressing financial hardships of the eligible entity, its customers, and the community it serves; and identifying the financial stability of the eligible entity, including— operational practices; revenue enhancements; policy revisions; partnerships, regionalization, or consolidation of water systems; and contract services; require an applicant to— receive financial planning assistance; and prepare a long-term financial plan. An entity shall be eligible for assistance under this paragraph if the entity— is a rural water, wastewater, or wastewater disposal system with respect to which assistance may be provided under a water or wastewater, or waste disposal program under this subsection or section 306A, 306C, or 306D, and is— located in a socially disadvantaged community, a persistent poverty county, colonia, or distressed tribal area, as determined by the Secretary; or facing an economic hardship as defined by the Secretary. .
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Sec. 6403
Zero and low interest loans for distressed water systems
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