[Congressional Bills 109th Congress]
[From the U.S. Government Publishing Office]
[H.R. 6021 Introduced in House (IH)]








109th CONGRESS
  2d Session
                                H. R. 6021

 To permit the proceeds of certain agriculture grants to be used for a 
              revolving loan fund, and for other purposes.


_______________________________________________________________________


                    IN THE HOUSE OF REPRESENTATIVES

                             July 28, 2006

Mr. Walden of Oregon introduced the following bill; which was referred 
                    to the Committee on Agriculture

_______________________________________________________________________

                                 A BILL


 
 To permit the proceeds of certain agriculture grants to be used for a 
              revolving loan fund, and for other purposes.

    Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. PERMISSION FOR THE PROCEEDS OF CERTAIN AGRICULTURE GRANTS TO 
              BE USED FOR A REVOLVING LOAN FUND.

    (a) In General.--Any nonprofit corporation incorporated on March 
14, 1995, may use the proceeds from any grant awarded to the 
corporation under section 310B(c)(1) of the Consolidated Farm and Rural 
Development Act on June 21, 1995, and the proceeds from any grant 
provided to the corporation pursuant to a grant awarded under section 
2376(b) of the National Forest-Dependent Rural Communities Economic 
Diversification Act of 1990 on May 11, 1995, to establish and operate a 
revolving loan fund, subject only to subesection (b) and the 
regulations that apply to revolving loan funds established with grant 
funds provided under such section 310B(c)(1), and, on dissolution of 
the revolving loan fund, may retain the amounts then in the revolving 
loan fund.
    (b) Duration of Operation of Revolving Loan Fund.--A revolving loan 
fund established and operated under subsection (a) shall remain in 
operation for a period ending not earlier than 5 years after the date 
of the enactment of this Act.
                                 <all>