Flexible Financing for Rural America Act of 2021

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

• Introduced in Senate · 25 March 2021 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 25 March 2021

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 25 March 2021

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 25 March 2021

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Sen. Smith, Tina [D-MN] · D · Sponsor
• Sen. Hoeven, John [R-ND] · R · Sponsor
• Sen. Sinema, Kyrsten [I-AZ] · D · Sponsor
• Sen. Boozman, John [R-AR] · R · Sponsor
• Sen. Capito, Shelley Moore [R-WV] · R · Sponsor
• Sen. Schatz, Brian [D-HI] · D · Sponsor
• Sen. Cornyn, John [R-TX] · R · Sponsor
• Sen. Kelly, Mark [D-AZ] · D · Sponsor
• Sen. Cramer, Kevin [R-ND] · R · Sponsor
• Sen. Hirono, Mazie K. [D-HI] · D · Sponsor
• Sen. Daines, Steve [R-MT] · R · Sponsor
• Sen. Klobuchar, Amy [D-MN] · D · Sponsor
• Sen. Ernst, Joni [R-IA] · R · Sponsor
• Sen. Tester, Jon [D-MT] · D · Sponsor
• Sen. Inhofe, James M. [R-OK] · R · Sponsor
• Sen. Peters, Gary C. [D-MI] · D · Sponsor
• Sen. Moran, Jerry [R-KS] · R · Sponsor
• Sen. Rounds, Mike [R-SD] · R · Sponsor
• Sen. Scott, Tim [R-SC] · R · Sponsor
• Sen. Tillis, Thomas [R-NC] · R · Sponsor
• Sen. Marshall, Roger [R-KS] · R · Sponsor
• Sen. Baldwin, Tammy [D-WI] · D · Sponsor
• Sen. Luján, Ben Ray [D-NM] · D · Cosponsor
• Sen. Barrasso, John [R-WY] · R · Cosponsor
• Sen. Hyde-Smith, Cindy [R-MS] · R · Cosponsor
• Sen. Graham, Lindsey [R-SC] · R · Cosponsor
• Sen. Tuberville, Tommy [R-AL] · R · Cosponsor
• Sen. Cardin, Benjamin L. [D-MD] · D · Cosponsor
• Sen. Durbin, Richard J. [D-IL] · D · Cosponsor
• Sen. Warnock, Raphael G. [D-GA] · D · Cosponsor
• Sen. Scott, Rick [R-FL] · R · Cosponsor
• Sen. Lummis, Cynthia M. [R-WY] · R · Cosponsor
• · ssaf00 · Standing

Related records

• related to ← Flexible Financing for Rural America Act