§ 2009d. — Rural Development Trust Fund.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC2009d]
TITLE 7--AGRICULTURE
CHAPTER 50--AGRICULTURAL CREDIT
SUBCHAPTER V--RURAL COMMUNITY ADVANCEMENT PROGRAM
Sec. 2009d. Rural Development Trust Fund
(a) Establishment
There is established in the Treasury of the United States a trust
fund which shall be known as the Rural Development Trust Fund (in this
subchapter referred to as the ``Trust Fund'').
(b) Accounts
There are established in the Trust Fund the following accounts:
(1) The rural community facilities account.
(2) The rural utilities account.
(3) The rural business and cooperative development account.
(4) The federally recognized Indian tribe account.
(c) Deposits into accounts
Notwithstanding any other provision of law, each fiscal year--
(1) all amounts made available to carry out the authorities
described in subsection (d)(1) of this section for the fiscal year
shall be deposited into the rural community facilities account of
the Trust Fund;
(2) all amounts made available to carry out the authorities
described in subsection (d)(2) of this section for the fiscal year
shall be deposited into the rural utilities account of the Trust
Fund; and
(3) all amounts made available to carry out the authorities
described in subsection (d)(3) of this section for the fiscal year
shall be deposited into the rural business and cooperative
development account of the Trust Fund.
(d) Function categories
The function categories described in this subsection are the
following:
(1) Rural community facilities
The rural community development category consists of all amounts
made available for--
(A) community facility direct and guaranteed loans under
section 1926(a)(1) of this title; or
(B) community facility grants under paragraph (19), (20), or
(21) of section 1926(a) of this title.
(2) Rural utilities
The rural utilities category consists of all amounts made
available for--
(A) water or waste disposal grants or direct or guaranteed
loans under paragraph (1) or (2) of section 1926(a) of this
title;
(B) rural water or wastewater technical assistance and
training grants under section 1926(a)(14) of this title;
(C) emergency community water assistance grants under
section 1926a of this title; or
(D) solid waste management grants under section 1932(b) of
this title.
(3) Rural business and cooperative development
The rural business and cooperative development category consists
of all amounts made available for--
(A) rural business opportunity grants under section
1926(a)(11)(A) of this title;
(B) business and industry direct and guaranteed loans under
section 1932(a)(1) of this title; or
(C) rural business enterprise grants or rural educational
network grants under section 1932(c) of this title.
(e) Federally recognized Indian tribe account
(1) Transfers into account
Each fiscal year, the Secretary shall transfer to the federally
recognized Indian tribe account of the Trust Fund 3 percent of the
amount deposited into the Trust Fund for the fiscal year under
subsection (d) of this section.
(2) Use of funds
The Secretary shall make available to federally recognized
Indian tribes the amounts in the federally recognized Indian tribe
account for use pursuant to any authority described in subsection
(d) of this section.
(f) Allocation among States
The Secretary shall allocate the amounts in each account specified
in subsection (c) of this section among the States in a fair,
reasonable, and appropriate manner that takes into consideration rural
population, levels of income, unemployment, and other relevant factors,
as determined by the Secretary.
(g) Availability of funds allocated for States
The Secretary shall make available to each State the total amount
allocated for the State under subsection (f) of this section that
remains after applying section 2009f of this title.
(Pub. L. 87-128, title III, Sec. 381E, as added Pub. L. 104-127, title
VII, Sec. 761, Apr. 4, 1996, 110 Stat. 1140; amended Pub. L. 105-86,
title III, Nov. 18, 1997, 111 Stat. 2094; Pub. L. 106-472, title III,
Secs. 304(b), 305(b), Nov. 9, 2000, 114 Stat. 2071; Pub. L. 107-171,
title VI, Sec. 6026(a), May 13, 2002, 116 Stat. 372.)
Amendments
2002--Subsec. (b)(4), (5). Pub. L. 107-171, Sec. 6026(a)(1),
redesignated par. (5) as (4) and struck out former par. (4) which read
as follows: ``The national reserve account.''
Subsec. (e). Pub. L. 107-171, Sec. 6026(a)(2), (3), redesignated
subsec. (f) as (e) and struck out heading and text of former subsec. (e)
which related to national reserve account.
Subsec. (f). Pub. L. 107-171, Sec. 6026(a)(3), redesignated subsec.
(g) as (f). Former subsec. (f) redesignated (e).
Subsecs. (g), (h). Pub. L. 107-171, Sec. 6026(a)(3), (4),
redesignated subsec. (h) as (g) and substituted ``subsection (f) of this
section'' for ``subsection (g) of this section''. Former subsec. (g)
redesignated (f).
2000--Subsec. (d)(1)(B). Pub. L. 106-472, Sec. 305(b), substituted
``paragraph (19), (20), or (21)'' for ``paragraph (19) or (20)''.
Pub. L. 106-472, Sec. 304(b), substituted ``paragraph (19) or (20)
of section 1926(a)'' for ``section 1926(a)(19)''.
1997--Subsec. (d)(3)(B). Pub. L. 105-86 inserted ``direct and''
after ``business and industry''.
Section Referred to in Other Sections
This section is referred to in sections 2009e, 2009f of this title.
