Summary: S.2097 — 106th Congress (1999-2000)All Information (Except Text)

Bill summaries are authored by CRS.

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Passed Senate amended (03/30/2000)

Launching Our Communities' Access to Local Television Act of 2000 - Establishes the Local Television Loan Guarantee Board to approve or disapprove loan guarantees under this Act. Allows loan guarantees to be approved only to the extent provided for in advance in appropriations Acts. Authorizes the Board to delegate to the Administrator of the Rural Utilities Service the authority to approve loan guarantees of up to $20 million.

Requires such loans to be used to finance the means by which local television (TV) broadcast signals, including high- speed Internet access and National Weather Service (NWS) warnings, will be delivered to an unserved or underserved area, with a loan priority for unserved areas. States that the Board should give additional consideration to projects which also provide related signals, such as Internet access and NWS warnings. Prohibits the Board from approving a loan which will serve one of the 40 most populated designated market areas.

Limits such loans to 80 percent of the total cost of a project, with a total loan aggregate value limit of $1.25 billion.

Requires the Administrator to administer all loan guarantees approved under this Act. Requires loan applicants to enter into stipulated performance schedules with respect to the local TV signals to be provided through the project.

Outlines procedures governing loan application and credit requirements, default procedures, and recovery of payments for breach of conditions.

Authorizes the Board to charge and collect a loan guarantee fee and use such fee to cover administrative costs.

Requires an annual audit and report concerning the loan guarantee program.

Prohibits any loan guarantee from being approved after December 31, 2006.

Authorizes appropriations for FY 2001 through 2006.