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United States · Bill · S

S. 1115 (101st)

A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other purposes.

referredUnited States· United States Congress· EN

Introduced

1 June 1989

Last action

28 August 1989 · Referred

Status

Referred to Subcommittee on Rural Development, Electrification.

Sponsors

Sen. Exon, J. James [D-NE], Sen. Stevens, Ted [R-AK], Sen. Leahy, Patrick J. [D-VT], Sen. Glenn, John H., Jr. [D-OH], Sen. Heflin, Howell [D-AL], Chuck Grassley, Sen. Conrad, Kent [D-ND], Sen. Dixon, Alan J. [D-IL], Sen. Thurmond, Strom [R-SC], Rep. Baucus, Max [D-MT-1], Sen. Durenberger, Dave [R-MN], Sen. Bumpers, Dale [D-AR], Sen. Lugar, Richard G. [R-IN], Rep. Cochran, Thad [R-MS-4], Sen. Kerrey, J. Robert [D-NE], Sen. Burdick, Quentin N. [D-ND], Sen. Shelby, Richard C. [D-AL], Sen. Sanford, Terry [D-NC], Sen. Pryor, David H. [D-AR], Sen. Bentsen, Lloyd M. [D-TX], Sen. Gore, Albert, Jr. [D-TN], Sen. Boren, David L. [D-OK], Sen. Murkowski, Frank H. [R-AK], Rep. Simon, Paul [D-IL-24], Sen. Daschle, Thomas A. [D-SD], Rep. Harkin, Tom [D-IA-5], Sen. Ford, Wendell H. [D-KY], Rep. Pressler, Larry [R-SD-1], Sen. DeConcini, Dennis [D-AZ], Sen. Mikulski, Barbara A. [D-MD], Sen. Hollings, Ernest F. [D-SC], Rep. Adams, Brock [D-WA-7], Sen. Boschwitz, Rudy [R-MN], Rep. Wirth, Timothy [D-CO-2], Sen. Fowler, Wyche, Jr. [D-GA], Sen. Coats, Daniel [R-IN]

Subjects

Agriculture

Source updated

14 January 2025

Agriculture

Official sourceDownload fileView documentsShare

Summary

Amends the Rural Electrification Act of 1936 to permit Rural Electrification Administration borrowers to prepay Federal Financing Bank loans without penalties if: (1) private capital is used to replace or prepay such loans; and (2) any savings will be used to mitigate future rate increases, passed on to customers, or used to improve the borrower's financial strength. Permits such borrowers to refinance outstanding long-term Federal Financing Bank loans for a specified fee. Requires the borrower to obtain a change in the interest rate on such loan from its present level to the rate then in effect for new Federal Financing Bank loans.

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

Timeline

  1. 1 June 1989

    Introduced

    Read twice and referred to the Committee on Agriculture.

    Source: IntroReferral

  2. 1 June 1989

    Introduced

    Introduced in Senate

    Source: IntroReferral

  3. 28 August 1989

    Referred

    Referred to Subcommittee on Rural Development, Electrification.

    Source: Committee

Votes

No vote records are attached yet.

Versions

Documents

2 official files

Sponsors

Related records

No cross-record relationships stored yet.

Sources

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