Rural Electrification and Rural Economic Development Improvement Act of 1995

Summary

TABLE OF CONTENTS: Title I: Improvements to the Rural Electrification Loan Programs Title II: Preservation of Exclusive State Jurisdiction Over Retail Electric Service Territories Title III: Improvements to the Delivery of Rural Development Programs Rural Electrification and Rural Economic Development Improvement Act of 1995 - Title I: Improvements to the Rural Electrification Loan Programs - Amends the Rural Electrification Act of 1936 (Act) to repeal authority for: (1) Treasury loans; and (2) two-percent interest rate electric loans and electrical and plumbing equipment loans. (Sec. 108) Authorizes appropriations for administrative and certain publication and reporting requirements. Establishes fees for non-financial assistance and services provided under such Act. (Sec. 112) Reduces the maximum loan extension period. (Sec. 115) Limits authority to make, insure, and guarantee electric loans, including the imposition of a means-test and a loan graduation (to commercial sources) program. (Sec. 121) Authorizes the sharing or subordination of Government liens to assist borrower credit access. (Sec. 122) Repeals authority for: (1) refinancing of Federal financing bank loans; (2) special treatment of certain electric borrowers; (3) 30 percent limitation on required financing from other sources; (4) refinancing of certain rural development loans; (5) cushion of credit payments program; and (6) authorization of appropriations for electric hardship and electric municipal rate loans. Title II: Preservation of Exclusive State Jurisdiction Over Retail Electric Service Territories - Amends the Federal Power Act of 1935 to provide for exclusive State jurisdiction over allocation of retail electric service territories. Title III: Improvements to the Delivery of Rural Development Programs - Amends the Consolidated Farm and Rural Development Act to: (1) prohibit water and waste facility loans to be made on the basis of a borrower's having received a prior Rural Electrification Administration loan; and (2) give rural development loan and grant priority to projects that are included in a local, regional, or State development plan, with highest priority for certain nonprofit entities. (Sec. 304) Amends the Act to give nonprofit entities access (and priority for certain nonprofit entities) to the Rural Business Incubator Fund.

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3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 15 May 1995

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• Introduced in Senate (PDF)

  Introduced in Senate · EN · 15 May 1995

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• Introduced in Senate

  summary · EN · 15 May 1995

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