Rural Electrification Loan Restructuring Act of 1993

Summary

Rural Electrification Loan Restructuring Act of 1993 - Amends the Rural Electrification Act of 1936 to prescribe guidelines under which the Rural Electrification Administrator (the Administrator) shall make insured electric and telephone loans (including hardship, municipal rate, and cost of money loans). Repeals authority for the current two-percent interest hardship loan, setting such rate at five percent. Repeals authority for the current five-percent interest direct electric and telephone loan program. Caps both electric and telephone interest rates at seven percent, depending on specified circumstances. Directs the Administrator to approve State telecommunications modernization plans if they meet specified requirements. Prescribes guidelines for loans made by the Governor of a telephone bank in the rural telephone bank loan program. Authorizes appropriations for: (1) electric hardship loans; (2) electric municipal rate loans; (3) telephone hardship loans; and (4) telephone cost-of-money loans. Amends the parameters of the rural telephone bank loan program. Prohibits the Administrator and the Governor of the telephone bank from imposing any charges not expressly provided for in this Act in connection with any loan or guarantee made under this Act. Specifies circumstances under which the Administrator may use consultants funded by the borrower. Redefines the size of a statutorily defined rural area. Prescribes guidelines for: (1) distribution borrower eligibility for loans, loan guarantees, and lien accommodations; and (2) administrative prohibitions applicable to electric borrowers. Amends the Consolidated Farm and Rural Development Act to authorize the Secretary of Agriculture to make loans for water and waste disposal facilities serving certain rural residents to any borrower to whom a loan has been made under the Rural Electrification Act of 1936. States that a borrower of a loan or loan guarantee under the Rural Electrification Act of 1936 is eligible for assistance under all programs administered by the Rural Development Administration.

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Documents

11 official files

• Public Law (PDF)

  Public Law · EN · 2 November 1993

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• Enrolled Bill (text)

  Enrolled Bill · EN · 4 October 1993

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• Enrolled Bill (PDF)

  Enrolled Bill · EN · 4 October 1993

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• Received in Senate (text)

  Received in Senate · EN · 29 September 1993

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• Received in Senate (PDF)

  Received in Senate · EN · 29 September 1993

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• Engrossed in House (text)

  Engrossed in House · EN · 28 September 1993

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• Engrossed in House (PDF)

  Engrossed in House · EN · 28 September 1993

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• Passed House amended

  summary · EN · 28 September 1993

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• Introduced in House (text)

  Introduced in House · EN · 22 September 1993

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• Introduced in House (PDF)

  Introduced in House · EN · 22 September 1993

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• Introduced in House

  summary · EN · 22 September 1993

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