§ 940d. — Limitations on authorization of appropriations.
[Laws in effect as of January 24, 2002]
[Document not affected by Public Laws enacted between
January 24, 2002 and December 19, 2002]
[CITE: 7USC940d]
TITLE 7--AGRICULTURE
CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
SUBCHAPTER III--RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
Sec. 940d. Limitations on authorization of appropriations
(a) ``Adjustment percentage'' defined
As used in this section, the term ``adjustment percentage'' means,
with respect to a fiscal year, the percentage (if any) by which--
(1) the average of the Consumer Price Index (as defined in
section 1(f)(5) of title 26) for the 1-year period ending on July 31
of the immediately preceding fiscal year; exceeds
(2) the average of the Consumer Price Index (as so defined) for
the 1-year period ending on July 31, 1993.
(b) Fiscal years 1994 through 1998
In the case of each of fiscal years 1994 through 1998, there are
authorized to be appropriated to the Secretary such sums as may be
necessary for the cost of loans in the following amounts, for the
following purposes:
(1) Electric hardship loans
For loans under section 935(c)(1) of this title--
(A) for fiscal year 1994, $125,000,000; and
(B) for each of fiscal years 1995 through 1998,
$125,000,000, increased by the adjustment percentage for the
fiscal year.
(2) Electric municipal rate loans
For loans under section 935(c)(2) of this title--
(A) for fiscal year 1994, $600,000,000; and
(B) for each of fiscal years 1995 through 1998,
$600,000,000, increased by the adjustment percentage for the
fiscal year.
(3) Telephone hardship loans
For loans under section 935(d)(1) of this title--
(A) for fiscal year 1994, $125,000,000; and
(B) for each of fiscal years 1995 through 1998,
$125,000,000, increased by the adjustment percentage for the
fiscal year.
(4) Telephone cost-of-money loans
For loans under section 935(d)(2) of this title--
(A) for fiscal year 1994, $198,000,000; and
(B) for each of fiscal years 1995 through 1998,
$198,000,000, increased by the adjustment percentage for the
fiscal year.
(c) Funding levels
The Secretary shall make insured loans under this subchapter for the
purposes, in the amounts, and for the periods of time specified in
subsection (b) of this section, as provided in advance in appropriations
Acts.
(d) Availability of funds for insured loans
Amounts made available for loans under section 935 of this title are
authorized to remain available until expended.
(May 20, 1936, ch. 432, title III, Sec. 314, as added Pub. L. 101-508,
title I, Sec. 1201, Nov. 5, 1990, 104 Stat. 1388-7; amended Pub. L. 103-
129, Sec. 2(b)(1), Nov. 1, 1993, 107 Stat. 1362; Pub. L. 103-354, title
II, Sec. 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)
Amendments
1994--Subsecs. (b), (c). Pub. L. 103-354 substituted ``Secretary''
for ``Administrator''.
1993--Pub. L. 103-129 amended section generally, substituting
provisions authorizing appropriations for the cost of electric hardship
loans, electric municipal rate loans, telephone hardship loans, and
telephone cost-of-money loans under section 935 of this title for fiscal
years 1994 through 1998 for provisions directing the Administrator to
make insured loans from the Rural Electrification and Telephone
Revolving Fund under section 931 of this title for fiscal years 1991
through 1995, to reduce the amounts of such loans to obtain funds to
guarantee the loans, and to guarantee the loans upon request of the
borrower at 90 percent of the principal and interest.
Effective Date
Section effective Nov. 29, 1990, see section 1301 of Pub. L. 101-
508, set out as an Effective Date of 1990 Amendment note under section
511r of this title.
