Rural Assistance and Revitalization Act of 1989 - Title I: Rural Business and Job Creation - Subtitle A: Rural Partnerships Investment Board - Establishes a Rural Partnerships Investment Board to provide lines of credit to enable eligible entities to develop rural business development revolving funds.
Establishes in the Treasury a Rural Business Investment Fund.
Subtitle B: Rural Capital Access Program - Directs the Secretary of Agriculture to establish a rural capital access program to encourage lending institutions to provide rural business loans.
Subtitle C: Rural Economic Development Administered by the Secretary and the Rural Electrification Administration - Amends the Rural Electrification Act of 1936 to establish a position of Assistant Administrator for Economic Development in the Rural Electrification Administration (REA).
Establishes within REA a technical assistance unit to advise borrowers with regard to economic and community development activities.
Provides for deferred payment on economic development loans.
Amends the Consolidated Farm and Rural Development Act to authorize water and waste facility loans for certain REA borrowers.
Amends the Rural Electrification Act of 1936 to establish in the Treasury a Rural Business Incubator Fund to fund REA borrowers in order to create or operate rural business incubators.
Title II: Administration - Renames the Department of Agriculture and the Secretary of Agriculture the Department of Agriculture and Rural Development (Department) and the Secretary of Agriculture and Rural Development, respectively.
Establishes in the Department the Rural Electrification and Development Administration (Administration) to be headed by an Assistant Secretary for Electrification and Rural Development. Transfers to the Administration: (1) the REA; (2) the community facilities, water and waste disposal, and business and industry loan programs administered by the Farmers Home Administration; and (3) other development programs as the Secretary may assign to the Administration.
Establishes in the Rural Development Administration (sic) an Office of Rural Policy.
Title III: Information - Directs the Census Bureau to expand its data collection efforts with regard to changing rural economic conditions.
Amends the Rural Development Act of 1972 to establish a rural development research grant program.
Directs the Secretary to establish: (1) a National Center for Cooperative Research, Education, Training, and Development; and (2) similar regional centers.
Title IV: Human Capacity - Amends the Rural Development Act of 1972 to direct the Secretary to establish an Extension Service rural economic and business development program.
Amends the Farm Credit Act of 1971 to authorize Farm Credit System (System) institutions to provide technical assistance to rural communities.
Amends the Consolidated Farm and Rural Development Act to increase the authorization of appropriations for technical assistance.
Title V: Rural Infrastructure - Amends the Consolidated Farm and Rural Development Act to: (1) establish local income-based loan rates for health care and related facilities; (2) increase the ceiling for water and waste facility grants; and (3) establish an emergency community water assistance grant program.
Title VI: Provisions Relating to Institutions of the Farm Credit System - Amends the Farm Credit Act of 1971 to authorize System institutions to participate in specified agricultural real estate and operating loan guarantee programs.
Increases the scope of System institution credit.
Title VII: Regulations - Requires final implementing regulations to be issued within six months of enactment of this Act.
Introduced in House
Introduced in House
Referred to the House Committee on Agriculture.
Referred to the Subcommittee on Department Operations, Research, and Foreign Agriculture.
Referred to the Subcommittee on Conservation Credit and Rural Development.
Llama 3.2 · runs locally in your browser
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line