§ 6616. Loans to economically disadvantaged rural communities
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/usc/title-7/section-6616A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)In general The Secretary, under such terms and conditions as the Secretary shall establish, may make loans to economically disadvantaged rural communities for the purposes of securing technical assistance and services to aid in the development and implementation of action plans, including planning for—
(1)improving existing facilities in the community that may generate employment or revenue;
(2)expanding existing infrastructure, facilities, and services to capitalize on opportunities to diversify economies now dependent on National Forest System land resources; and
(3)supporting the development of new industries or commercial ventures unrelated to National Forest System land resources.
(b)Interest rates The interest rates on a loan made pursuant to this section shall be as determined by the Secretary, but not in excess of the current average market yield on outstanding marketable obligations of the United States with remaining periods to maturity comparable to the maturity of such loan, plus not to exceed 1 percent, as determined by the Secretary, and rounded to the nearest one-eighth of 1 percent.
(Pub. L. 101–624, title XXIII, § 2378, Nov. 28, 1990, 104 Stat. 4048; Pub. L. 106–113, div. B, § 1000(a)(3) [title III, § 345(f)], Nov. 29, 1999, 113 Stat. 1535, 1501A–204.)
Connections3 cite this
Cited by 3 sections
statutes-at-large
- Public Law 106–113Making consolidated appropriations for the fiscal year ending September 30, 2000,and for other purposes
- Public Law 101–624To extend and revise agricultural price support and related programs, to provide for agricultural export, resource conservation, farm credit, and agricultural research and related programs, to ensure consumers an abundance of food and fiber at reasonable prices, and for other purposes
statute-compilations
5 references not yet in our index
- Pub. L. 101–624, title XXIII, § 2378
- 104 Stat. 4048
- Pub. L. 106–113, div. B, § 1000(a)(3) [title III, § 345(f)]
- 113 Stat. 1535
- Pub. L. 106–113
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cites case law
§ 6616
Loans to economically disadvantaged rural communities
Stat.×2
Stat. Comp.×1
Pub. L.Pub. L. 101–624, title XXIII, § 2378
Stat.104 Stat. 4048
Pub. L.Pub. L. 106–113, div. B, § 1000(a)(3) [title III, § 345(f)]
Stat.113 Stat. 1535
Pub. L.Pub. L. 106–113
Cites 5Cited by 3 across 2 sources