Sec. 9007. Rural Energy for America Program
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Section 9007 of the Farm Security and Rural Investment Act of 2002 ( 7 U.S.C. 8107 ) is amended— in subsection (b)(3)— in subparagraph (D), by inserting , cost savings, after savings ; in subparagraph (E), by striking and at the end; in subparagraph (F), by striking the period at the end and inserting ; and ; and by adding at the end the following: the potential of the proposed program to meaningfully improve the financial conditions of the agricultural producers or rural small businesses. ; in subsection (c)— in paragraph (2)— in subparagraph (F), by striking and at the end; by redesignating subparagraph
(G)as subparagraph (H); and by inserting after subparagraph
(F)the following: the potential improvements to the financial conditions of the agricultural producer or rural small business; and ; and in paragraph (3)— by amending subparagraph
(A)to read as follows: With respect to grants made under paragraph (1)(A)(i), the amount of a grant shall not exceed— 50 percent of the cost of the activity carried out using funds from the grant for— a beginning farmer or rancher, a socially disadvantaged farmer or rancher, or a veteran farmer or rancher (as those terms are defined in section 2501(a) of the Food, Agriculture, Conservation and Trade Act of 1990 ( 7 U.S.C. 2279(a) )); and a recipient with a proposed project located in an area where 20 percent or more of the population is living in poverty over the last 30 years, as defined by the United States Census Bureau, or an area that has experienced long-term population decline or loss of employment, as determined by the Secretary; or 35 percent of the cost of the activity carried out using funds from the grant in all other cases. ; and in subparagraph (B), by striking $25,000,000 and inserting $50,000,000 ; in subsection (f)(3), by striking 2023 and inserting 2029 ; and by adding at the end the following: In approving grant or loan guarantee applications under this section, the Secretary shall ensure that, to the extent practicable, there is diversity in the types of projects approved for grants or loan guarantees to ensure that as wide a range as possible of technologies, products, and approaches are assisted. .
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