A bill to enhance the role of the Rural Electrification Administration in rural development and in small community water and sewer improvements, and for other purposes.
Rural Electrification Administration Act Amendments of 1989 - Amends the Rural Electrification Act of 1936 to create in the Rural Electrification Administration (REA) the position of Assistant Administrator for Economic Development to carry out programs concerning the involvement of rural electric and telephone systems in community and economic development.
Creates a technical assistance unit within REA to advise borrowers concerning permitted community and economic development activities.
Authorizes REA to make loans to borrowers to enable them to provide water and waste disposal services in their areas. Requires borrowers to obtain private sector funds to supplement such assistance if the funds are available at affordable rates. Permits REA interest rate adjustments in order to facilitate private financing. Sets fiscal year loan limits at the lesser of $40,000,000 or ten percent of the total amount of telephone and electrification loans in such year.
Similiar Provisions Included In H.R.4793 (Title III).
Introduced in Senate
Read twice and referred to the Committee on Agriculture.
Committee on Agriculture. Provisions of measure incorporated into measure S. 1036 ordered to be reported.
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