Summary: H.R.12207 — 94th Congress (1975-1976)All Information (Except Text)

Bill summaries are authored by CRS.

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Reported to Senate with amendment(s) (09/28/1976)

(Reported to Senate from the Committee on Agriculture and Forestry with amendment, S. Rept. 94-1314)

Rural Electrification Administration Technical Amendments Act - Amends the Rural Electrification Act of 1936 to stipulate that the unobligated balance of funds made available for loans by the Rural Electrification Administration shall become part of the Rural Electrification and Telephone Revolving Fund.

Revises criteria for issuance of loans at the special rate of two percent by the Administration by establishing separate criteria for telephone borrowers and electric borrowers based on the following factors: average subscriber density, distribution plant, general plant, annual gross revenue, and cost of power.

Provides that insured loans made pursuant to applications for such loans which would otherwise lose eligibility for special rate financing upon enactment of this Act, received by the Rural Electrification Administration and still pending on the date of enactment, shall bear interest as determined under the Rural Electrification Act of 1936 before its amendment by the Act.