Sec. 5503. Support for rural water and waste systems
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/bill/119/hr/7567/rh/section-5503A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 3.7(f) of the Farm Credit Act of 1971 ( 12 U.S.C. 2128(f) ) is amended— by redesignating paragraphs
(1)and
(2)as subparagraphs
(A)and (B); by striking The banks and inserting
(1)The banks ; striking For purposes and inserting
(3)For purposes ; in paragraph
(3)(as so redesignated), by inserting , or in the case of such loans, commitments, and assistance that are guaranteed, the term before the period at the end; and rural area means an area described in section 343(a)(13)(A) of the Consolidated Farm and Rural Development Act ( 7 U.S.C. 1991(a)(13)(A) ) by inserting after paragraph
(1)(as so redesignated) the following: Notwithstanding paragraph (1), a bank for cooperatives may make and participate in loans and commitments and provide technical and other financial assistance to cooperatives and any other public or private entity (except for the Federal Government) for the purpose of installing, maintaining, expanding, improving, or operating facilities in a rural area for the processing or disposal of waste from any source, the provision of telecommunication services, and producing electricity from any source for use or sale by the borrower. .
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