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United States · Bill · HR

H.R. 5031 (100th)

Rural Electrification Administration Lending Assistance Improvements Act of 1988

referredUnited States· United States Congress· EN

Introduced

13 July 1988

Last action

26 August 1988 · Referred

Status

Referred to Subcommittee on Conservation Credit and Rural Development.

Sponsors

Rep. Bates, Jim [D-CA-44], Rep. DioGuardi, Joseph J. [R-NY-20], Rep. Bentley, Helen Delich [R-MD-2], Rep. Frank, Barney [D-MA-4], Rep. Flake, Floyd H. [D-NY-6], Rep. Lagomarsino, Robert J. [R-CA-19], Rep. Green, S. William [R-NY-15], Rep. Packard, Ron [R-CA-48], Rep. Hunter, Duncan [R-CA-52], Rep. Crane, Philip M. [R-IL-8], Rep. Dymally, Mervyn M. [D-CA-31], Rep. Mrazek, Robert J. [D-NY-3], Rep. Garcia, Robert [D-NY-18], Rep. Dornan, Robert K. [R-CA-46], Rep. Parris, Stanford E. (Stan) [R-VA-8], Rep. Foglietta, Thomas M. [D-PA-1]

Subjects

Agriculture

Source updated

28 August 2025

Agriculture

Official sourceView documentsShare

Summary

Rural Electrification Administration Lending Assistance Improvements Act of 1988 - Amends the Rural Electrification Act of 1936 to limit after September 30, 1988, the Rural Electrification Administration's (REA) authority to guarantee loans to 70 percent for electric distribution and subtransmission facilities and telephone facilities and 80 percent for electric generation and transmission facilities. Prohibits REA guarantees of loans from any Federal lending agency after such date. Revises guaranteed loan and direct or insured loan prepayment provisions. Reduces the maximum amount of funds that a borrower may invest. Prohibits the REA from insuring loans after such date unless specified findings are made. Bases interest rates on comparable U.S. obligations, with a minimum rate of five percent. Prohibits the REA from guaranteeing loans after such date to certain metropolitan area borrowers for: (1) recreation purposes; or (2) telephone service improvement if the borrower's gross revenues exceed specified amounts. Prohibits the issuance of class A stock after September 30, 1988. Requires 51 percent of such stock to be redeemed on September 30, 1995, with the remaining stock redeemed and retired by September 30, 2005. Repeals the provision creating a telephone bank reserve for losses due to interest rate changes. Requires the telephone bank to retire all Treasury-held debentures by September 30, 1995. Prohibits the further issuance of such debentures. Provides for the privatization of the telephone bank.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

  1. 13 July 1988

    Introduced

    Referred to House Committee on Agriculture.

    Source: IntroReferral

  2. 13 July 1988

    Introduced

    Introduced in House

    Source: IntroReferral

  3. 13 July 1988

    Introduced

    Introduced in House

    Source: IntroReferral

  4. 26 August 1988

    Referred

    Referred to Subcommittee on Conservation Credit and Rural Development.

    Source: Committee

Votes

No vote records are attached yet.

Versions

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Documents

1 official file

Leesvertaling

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Sponsors

Related records

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Sources

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