5 Essential Elements For 922 loans

With respect to payment aid presented underneath paragraph (2), in advance of getting into into the arrangement under which the payment assistance might be delivered, the applicant along with the Secretary shall conform to milestones and goals with the undertaking.

(bb) the typical for each capita earnings of your citizens receiving electrical company within the applicant is under the normal per capita money on the people on the Point out through which the applicant offers company, or even the median residence earnings with the homes receiving electrical service through the applicant is less than the median house revenue in the homes in the State.

(eight) payment of the acquisition price and any fees and charges incurred in connection with the acquisition, acquisition, or Procedure of assets pursuant to section 907 of this title.

Being qualified for your grant less than this section, As well as the requirements of subsection (d), the task that's the matter on the grant shall—

If, not later on than one calendar year right after final laws are promulgated to carry out this paragraph, any Condition, possibly by statute or with the public utility Fee of the Point out, develops a telecommunications modernization plan that fulfills the necessities of subparagraph (B), the Secretary shall approve the approach for that State.

Provisions much like These On this area had been contained in the subsequent prior appropriation act:

Not later than 1 yr following the day of enactment of the portion and yearly thereafter, the Secretary shall submit to Congress a report that describes—

Purchases and resales by the Secretary from the Treasury hereunder shall not be included in the totals of the spending budget of the United States Authorities and shall be exempt from any basic limitation imposed by statute on expenditures and not lending (price range outlays) of The us.

Not less than 3 % and not a lot more than five % of quantities appropriated to perform this part to get a fiscal yr shall be utilized for complex guidance and schooling below this paragraph.

Extensions below this part shall not be built Until the Secretary first finds and certifies that, after providing outcome for the extension, in his judgment the safety for all loans to your borrower produced or confirmed underneath this chapter is fairly satisfactory and that every one these loans might be repaid inside the time agreed.

The Secretary shall make sure the type and quantity of, and technique of stability utilized to secure, any mortgage or bank loan assurance under this portion is commensurate to the risk associated with the loan or mortgage ensure, significantly in any scenario where the personal loan or personal loan assure is issued to the economically powerful and stable entity, as based on the Secretary.

A borrower of a mortgage made by the Federal Funding Financial institution and confirmed less than portion 936 of this title could, at the option in the borrower, refinance or prepay the personal loan or an advance within the loan, or any percentage of the bank loan or progress.

When determining to utilize the payment click here guidance authority beneath paragraph (two) the Secretary shall look at whether the payment aid will—

The Secretary may not request any applicant for An electrical personal loan below this chapter to make an application for and acknowledge a personal loan in an sum exceeding 30 per cent of your credit wants on the applicant.