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United States · Bill · S

S. 978 (117th)

Flexible Financing for Rural America Act of 2021

referredUnited States· United States Congress· EN

Introduced

25 March 2021

Last action

25 March 2021 · Introduced

Status

Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

Sponsors

Tina Smith, John Hoeven, Kyrsten Sinema, John Boozman, Shelley Capito, Brian Schatz, John Cornyn, Mark Kelly, Kevin Cramer, Sen. Hirono, Mazie K. [D-HI], Steve Daines, Amy Klobuchar, Joni Ernst, Sen. Tester, Jon [D-MT], Rep. Inhofe, James M. [R-OK-1], Gary Peters, Jerry Moran, Mike Rounds, Tim Scott, Thomas Tillis, Roger Marshall, Tammy Baldwin, Ben Luján, John Barrasso, Cindy Hyde-Smith, Sen. Graham, Lindsey [R-SC], Tommy Tuberville, Rep. Cardin, Benjamin L. [D-MD-3], Richard Durbin, Sen. Warnock, Raphael G. [D-GA], Rick Scott, Cynthia Lummis

Subjects

Healthcare, Agriculture

Source updated

5 December 2025

Healthcare · Agriculture

Official sourceDownload fileView documentsShare

Summary

Flexible Financing for Rural America Act of 202 1 This bill allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community. Specifically, on receipt of a request, USDA or the Department of the Treasury (in the case of a loan owned by the Federal Financing Bank) must adjust the interest rate on the loan to match certain interest rates for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 public health emergency and to promote the financial sustainability of the borrower. In carrying out the adjustments or modifications, USDA or Treasury shall not impose or collect any fee from, or impose any penalty on, a borrower. The bill also provides funding to implement the adjustments and modifications and for the liquidation of residual intragovernmental amounts owed by the Federal Financing Bank in connection with certain loans.

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

Timeline

  1. 25 March 2021

    Introduced

    Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry.

    Source: IntroReferral

  2. 25 March 2021

    Introduced

    Introduced in Senate

    Source: IntroReferral

Votes

No vote records are attached yet.

Versions

Documents

3 official files

Sponsors

Related records

Sources

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