Sec. 6402. EXPANDING ACCESS TO CREDIT FOR RURAL COMMUNITIES
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## SEC. 6402 EXPANDING ACCESS TO CREDIT FOR RURAL COMMUNITIES ###
(a)Certain Programs Under the Consolidated Farm and Rural Development Act Section 343(a)(13) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1991(a)(13)) is amended— ####
(1)in subparagraph (B)— #####
(A)in the heading, by striking “and guaranteed”; and #####
(B)in the text— ######
(i)by striking “and guaranteed”; and ######
(ii)by striking “(1), (2), and (24)” and inserting “(1) and (2)”; and ####
(2)in subparagraph (C)— #####
(A)by striking “and guaranteed”; and #####
(B)by striking “(21), and (24)” and inserting “and (21)”. ###
(b)Population Caps for Guaranteed Lending Section 306(a)(24) of such Act (7 U.S.C. 1926(a)(24)) is amended by adding at the end the following: > > ##### “(D) Priority > > > ###### “(i) Water or waste facility > > The Secretary shall prioritize water and waste facility projects under this paragraph in rural areas with a population of not more than 10,000 people. > > > ###### “(ii) Community facility > > Of the funds made available to carry out this paragraph for community facility loan guarantees for a fiscal year the following amounts shall be reserved for projects in rural areas with a population of not more than 20,000 inhabitants: > > > ###### “(I) > > 100 percent of the first $200,000,000 so made available; > > > ###### “(II) > > 50 percent of the next $200,000,000 so made available; and > > > ###### “(III) > > 25 percent of all amounts exceeding $400,000,000 so made available, > > except that, to the extent that the Secretary demonstrates that the funds so reserved are not needed to finance a community facility project in such a rural area, the Secretary may use the funds for other community facility projects in accordance with this paragraph.” > .
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