S.Amdt. 2395

1. 1

   Change 1: Rewrites page 751, line 23

   ReplacesPrinted page

   Removes page 751, line 23 of the printed bill. See that page

   Inserted: SEC. 3915. SUBSTANTIALLY UNDERSERVED TRUST AREAS.

   Inserted: (a) Definitions.--In this section:

   Inserted: (1) Eligible program.--The term 'eligible program' means a program administered by the Secretary and authorized in--

   Inserted: (A) this Act;

   Inserted: (B) the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq.); or

   Inserted: (C) title V of the Housing Act of 1949 (42 U.S.C. 1471 et seq.).

   Inserted: (2) Substantially underserved trust area.--The term 'substantially underserved trust area' means a community in 'trust land' (as defined in section 3765 of title 38, United States Code).

   Inserted: (b) Initiative.--The Secretary, in consultation with local governments and Federal agencies, may implement an initiative to identify and improve the availability of eligible programs in communities in substantially underserved trust areas.

   Inserted: (c) Authority of Secretary.--In carrying out subsection (b), the Secretary--

   Inserted: (1) may make available from loan or loan guarantee programs administered by the Secretary to qualified entities or applicants financing with an interest rate as low as 2 percent and with extended repayment terms;

   Inserted: (2) may waive nonduplication restrictions, matching fund requirements, or credit support requirements from any loan or grant program administered by the Secretary to facilitate the construction, acquisition, or improvement of infrastructure, or for other purposes;

   Inserted: (3) may give the highest funding priority to designated projects in substantially underserved trust areas; and

   Show 6 more inserted paragraphsShow less

   Inserted: (4) shall only make loans or loan guarantees that are found to be financially feasible and that provide eligible program benefits to substantially underserved trust areas.

   Inserted: (d) Eligibility of Trust Land for Eligible Programs.--Notwithstanding any other provision of law, for purposes of eligibility for eligible programs, trust land (as defined in section 3765 of title 38, United States Code) shall be considered by the Secretary to be a rural area.

   Inserted: (e) Report.--Each year, the Secretary shall submit to Congress a report that describes--

   Inserted: (1) the progress of the initiative implemented under subsection (b); and

   Inserted: (2) recommendations for any regulatory or legislative changes that would be appropriate to improve services to substantially underserved trust areas.

   Inserted: SEC. 3916. REGULATIONS.

   Original wording

   On page 751, strike line 23 and insert the following:

2. 2

   Change 2: Rewrites page 752, lines 17–21

   ReplacesPrinted page

   Removes page 752, lines 17–21 of the printed bill. See that page

   Inserted: (c) Section 306F of the Rural Electrification Act of 1936 (7 U.S.C. 936f) is repealed.

   Original wording

   On page 752, strike lines 17 through 21 and insert the following:

Read automatically from the Congressional Record. Check the original before relying on it.

As printed