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Code · BILL · 119th Congress · H.R. 7567 (Reported in House) — To provide for the reform and continuation of agricultural and other programs of the Department of Agriculture throug... · Sec. 6502

Sec. 6502. Extension of the rural economic development loan and grant program

118 words·~1 min read·/bill/119/hr/7567/rh/section-6502

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Section 313B of the Rural Electrification Act of 1936 ( 7 U.S.C. 940c–2 ) is amended— by striking subsection
(b)and inserting the following: In the case of zero interest loans, the Secretary shall establish such reasonable repayment terms as will encourage borrower participation. The Secretary shall not require a letter of credit or other similar guarantee from a recipient of a zero-interest loan under this section if the borrower assigns the Secretary a security interest in any collateral provided to secure a loan made with funds loaned under this section, or makes other similar arrangements to the satisfaction of the Secretary. ; and in subsection (e)(1), by striking 2019 through 2023 and inserting 2027 through 2031 .
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  • 7 USC 940c–2
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Sec. 6502
Extension of the rural economic development loan and grant program
Cite7 USC 940c–2
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