S.Amdt. 332

SA 332. Mr. LEAHY submitted an amendment intended to be proposed to
amendment SA 98 proposed by Mr. Inouye (for himself and Mr. Baucus) to
the bill H.R. 1, making supplemental appropriations for job
preservation and creation, infrastructure investment, energy efficiency
and science, assistance to the unemployed, and State and local fiscal
stabilization, for fiscal year ending September 30, 2009, and for other
purposes; which was ordered to lie on the table; as follows:

On page 37, line 23, after ``expended:'' insert the
following: ``Provided further, that not less than
$100,000,000 of the funds made available under this heading
shall be available to cover the cost of loan guarantees
pursuant to section 201(4) of this Act: Provided further,
That the principal amount of loan guarantees made pursuant to
such section 201(4) shall not exceed $2,000,000,000:''.

On page 50, after line 25, insert the following:
(4) The Assistant Secretary--
(A) shall establish and administer a broadband
telecommunications loan guarantee program as expeditiously as
practicable;
(B) shall provide broadband telecommunications loan
guarantees for any project which meets the following
criteria:
(i) The total amount financed by the loan guarantee does
not exceed $100,000,000.
(ii) The loan guarantee does not exceed 80 percent of the
principal losses of the project, provided that the maximum
amount of any loan guarantee does not exceed 60 percent of
the total amount financed for the project.
(iii) The project raises its financing not later than 120
days after the date that the project receives approval for
the loan guarantee from the Assistant Secretary.
(iv) The project design provides broadband connectivity to
every business location and every residence within the
project territory not later than the date that 2 years after
the date that the project received its financing.
(v) The service territory covered by the project--

(I) is, in the discretion of the Assistant Secretary,
reasonably coherent; and
(II) does not include unoccupied areas for the sole purpose
of artificially adjusting the average density of the covered
connectivity area of the project;

(C) shall, not later than 90 days after the date of
enactment of this Act, and quarterly thereafter until all
funds reserved for broadband telecommunications loan
guarantees under this paragraph are obligated, submit a
report to the Committees on Appropriations of the House of
Representatives and the Senate, the Committee on Energy and
Commerce of the House, and the Committee on Commerce, Science
and Transportation of the Senate, on the planned spending and
actual obligations of such reserved funds; and
(D) may use not more than 3 percent of the funds reserved
for broadband telecommunications loan guarantees under this
paragraph for administrative costs to carry out the broadband
telecommunications loan guarantee program established under
this paragraph.

On page 51, line 1, strike ``(4)'' and insert ``(5)''.
On page 52, line 8, strike ``(5)'' and insert ``(6)''.
On page 52, line 18, strike ``(5)'' and insert ``(6)''.
On page 53, line 1, strike ``(6)'' and insert ``(7)''.
On page 53, line 23, strike ``(7)'' and insert ``(8)''.
On page 55, line 9, strike ``(8)'' and insert ``(9)''.
On page 55, line 16, strike ``(9)'' and insert ``(10)''.
On page 56, line 12, strike ``(10)'' and insert ``(11)''.
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