
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 7USC940d]

 
                          TITLE 7--AGRICULTURE
 
         CHAPTER 31--RURAL ELECTRIFICATION AND TELEPHONE SERVICE
 
    SUBCHAPTER III--RURAL ELECTRIC AND TELEPHONE DIRECT LOAN PROGRAMS
 
Sec. 940d. Limitations on authorization of appropriations


(a) ``Adjustment percentage'' defined

    As used in this section, the term ``adjustment percentage'' means, 
with respect to a fiscal year, the percentage (if any) by which--
        (1) the average of the Consumer Price Index (as defined in 
    section 1(f)(5) of title 26) for the 1-year period ending on July 31 
    of the immediately preceding fiscal year; exceeds
        (2) the average of the Consumer Price Index (as so defined) for 
    the 1-year period ending on July 31, 1993.

(b) Fiscal years 1994 through 1998

    In the case of each of fiscal years 1994 through 1998, there are 
authorized to be appropriated to the Secretary such sums as may be 
necessary for the cost of loans in the following amounts, for the 
following purposes:

                     (1) Electric hardship loans

        For loans under section 935(c)(1) of this title--
            (A) for fiscal year 1994, $125,000,000; and
            (B) for each of fiscal years 1995 through 1998, 
        $125,000,000, increased by the adjustment percentage for the 
        fiscal year.

                  (2) Electric municipal rate loans

        For loans under section 935(c)(2) of this title--
            (A) for fiscal year 1994, $600,000,000; and
            (B) for each of fiscal years 1995 through 1998, 
        $600,000,000, increased by the adjustment percentage for the 
        fiscal year.

                    (3) Telephone hardship loans

        For loans under section 935(d)(1) of this title--
            (A) for fiscal year 1994, $125,000,000; and
            (B) for each of fiscal years 1995 through 1998, 
        $125,000,000, increased by the adjustment percentage for the 
        fiscal year.

                  (4) Telephone cost-of-money loans

        For loans under section 935(d)(2) of this title--
            (A) for fiscal year 1994, $198,000,000; and
            (B) for each of fiscal years 1995 through 1998, 
        $198,000,000, increased by the adjustment percentage for the 
        fiscal year.

(c) Funding levels

    The Secretary shall make insured loans under this subchapter for the 
purposes, in the amounts, and for the periods of time specified in 
subsection (b) of this section, as provided in advance in appropriations 
Acts.

(d) Availability of funds for insured loans

    Amounts made available for loans under section 935 of this title are 
authorized to remain available until expended.

(May 20, 1936, ch. 432, title III, Sec. 314, as added Pub. L. 101-508, 
title I, Sec. 1201, Nov. 5, 1990, 104 Stat. 1388-7; amended Pub. L. 103-
129, Sec. 2(b)(1), Nov. 1, 1993, 107 Stat. 1362; Pub. L. 103-354, title 
II, Sec. 235(a)(13), Oct. 13, 1994, 108 Stat. 3221.)


                               Amendments

    1994--Subsecs. (b), (c). Pub. L. 103-354 substituted ``Secretary'' 
for ``Administrator''.
    1993--Pub. L. 103-129 amended section generally, substituting 
provisions authorizing appropriations for the cost of electric hardship 
loans, electric municipal rate loans, telephone hardship loans, and 
telephone cost-of-money loans under section 935 of this title for fiscal 
years 1994 through 1998 for provisions directing the Administrator to 
make insured loans from the Rural Electrification and Telephone 
Revolving Fund under section 931 of this title for fiscal years 1991 
through 1995, to reduce the amounts of such loans to obtain funds to 
guarantee the loans, and to guarantee the loans upon request of the 
borrower at 90 percent of the principal and interest.


                             Effective Date

    Section effective Nov. 29, 1990, see section 1301 of Pub. L. 101-
508, set out as an Effective Date of 1990 Amendment note under section 
511r of this title.
