3.0.0 978 2023-01-11T13:47:33Z 2023-01-11T13:47:33Z Senate S 2021-03-25 117 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Standing Referred to 2021-03-25T16:25:29Z Flexible Financing for Rural America Act 117 2244 HR 2021-06-15 Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit. Related bill CRS 2021-03-25 ssaf00 Agriculture, Nutrition, and Forestry Committee Senate Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. IntroReferral 2021-03-25 Introduced in Senate IntroReferral 10000 9 Library of Congress S001203 Sen. Smith, Tina [D-MN] Tina Smith D MN N H001061 Sen. Hoeven, John [R-ND] John Hoeven R ND 2021-03-25 True S001191 Sen. Sinema, Kyrsten [D-AZ] Kyrsten Sinema D AZ 2021-03-25 True B001236 Sen. Boozman, John [R-AR] John Boozman R AR 2021-03-25 True C001047 Sen. Capito, Shelley Moore [R-WV] Shelley Capito R WV Moore 2021-03-25 True S001194 Sen. Schatz, Brian [D-HI] Brian Schatz D HI 2021-03-25 True C001056 Sen. Cornyn, John [R-TX] John Cornyn R TX 2021-03-25 True K000377 Sen. Kelly, Mark [D-AZ] Mark Kelly D AZ 2021-03-25 True C001096 Sen. Cramer, Kevin [R-ND] Kevin Cramer R ND 2021-03-25 True H001042 Sen. Hirono, Mazie K. [D-HI] Mazie Hirono D HI K. 2021-03-25 True D000618 Sen. Daines, Steve [R-MT] Steve Daines R MT 2021-03-25 True K000367 Sen. Klobuchar, Amy [D-MN] Amy Klobuchar D MN 2021-03-25 True E000295 Sen. Ernst, Joni [R-IA] Joni Ernst R IA 2021-03-25 True T000464 Sen. Tester, Jon [D-MT] Jon Tester D MT 2021-03-25 True I000024 Sen. Inhofe, James M. [R-OK] Jim Inhofe R OK 2021-03-25 True P000595 Sen. Peters, Gary C. [D-MI] Gary Peters D MI 2021-03-25 True M000934 Sen. Moran, Jerry [R-KS] Jerry Moran R KS 2021-03-25 True R000605 Sen. Rounds, Mike [R-SD] Mike Rounds R SD 2021-03-25 True S001184 Sen. Scott, Tim [R-SC] Tim Scott R SC 2021-03-25 True T000476 Sen. Tillis, Thomas [R-NC] Thomas Tillis R NC Roland 2021-03-25 True M001198 Sen. Marshall, Roger [R-KS] Roger Marshall R KS 2021-03-25 True B001230 Sen. Baldwin, Tammy [D-WI] Tammy Baldwin D WI 2021-03-25 True L000570 Sen. Lujan, Ben Ray [D-NM] Ben Lujan D NM R. 2021-04-15 False B001261 Sen. Barrasso, John [R-WY] John Barrasso R WY 2021-04-15 False H001079 Sen. Hyde-Smith, Cindy [R-MS] Cindy Hyde-Smith R MS 2021-04-27 False G000359 Sen. Graham, Lindsey [R-SC] Lindsey Graham R SC 2021-04-27 False T000278 Sen. Tuberville, Tommy [R-AL] Tommy Tuberville R AL 2021-04-27 False C000141 Sen. Cardin, Benjamin L. [D-MD] Ben Cardin D MD 2021-06-08 False D000563 Sen. Durbin, Richard J. [D-IL] Richard Durbin D IL J. 2021-06-24 False W000790 Sen. Warnock, Raphael G. [D-GA] Raphael Warnock D GA G. 2021-11-01 False S001217 Sen. Scott, Rick [R-FL] Rick Scott R FL 2021-12-01 False L000571 Sen. Lummis, Cynthia M. [R-WY] Cynthia Lummis R WY M. 2022-05-19 False Agriculture and Food Agricultural prices, subsidies, credit Appropriations Cardiovascular and respiratory health Department of Agriculture Electric power generation and transmission Emergency medical services and trauma care Executive agency funding and structure Government lending and loan guarantees Infectious and parasitic diseases Interest, dividends, interest rates Internet and video services Internet, web applications, social media Public utilities and utility rates Rural conditions and development Telephone and wireless communication Agriculture and Food 00 2021-03-25 Introduced in Senate 2021-10-22T10:57:31Z Flexible Financing for Rural America Act of 2021

This bill allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community.

Specifically, on receipt of a request, USDA or the Department of the Treasury (in the case of a loan owned by the Federal Financing Bank) must

  • adjust the interest rate on the loan to match certain interest rates for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and
  • make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 public health emergency and to promote the financial sustainability of the borrower.

In carrying out the adjustments or modifications, USDA or Treasury shall not impose or collect any fee from, or impose any penalty on, a borrower.

The bill also provides funding to implement the adjustments and modifications and for the liquidation of residual intragovernmental amounts owed by the Federal Financing Bank in connection with certain loans.

]]> Flexible Financing for Rural America Act of 2021 Display Title Flexible Financing for Rural America Act of 2021 Official Title as Introduced A bill to provide for the adjustment or modification by the Secretary of Agriculture of loans for critical rural utility service providers, and for other purposes. Introduced in Senate IS Short Title(s) as Introduced Flexible Financing for Rural America Act of 2021 Introduced in Senate IS Introduced in Senate 2021-03-25T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-117s978is/xml/BILLS-117s978is.xml 2021-03-25 Read twice and referred to the Committee on Agriculture, Nutrition, and Forestry. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.