Public Law 84–70

That subsections (c), (d), and (e) of the Rural Electrification Act of 1936, as amended (7 U. S. C. 903 (c). (d), and (e)) are amended to read as follows:

49 Stat. 1364.

“(c)“(c)

Twenty-five per centum of the annual sums herein made available

Allotments for loans in States.

or appropriated for loans for rural electrification pursuant to sections 4 and 5 of this title shall be allotted yearly by the Administrator for loans in the several States in the proportion which the number of their farms not then receiving central station electric service hem’s to the total number of farms of the United States not then receiving such service: Provided, That if any part of such sums are not loaned or obligated during the first six months of the fiscal year for which they are made available, such part shall thereafter be available for loans by the Administrator without allotment: Provided, however, That not more than 25 per centum of said sums may be employed in any one State or in all of the Territories. The Administrator shall within ninety days after the beginning of each fiscal year determine for each State and for the United States the number of farms not then receiving such service.

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“(d)“(d)

The remaining 75 per centum of such annual sums shall be

Unallotted funds.

available for rural electrification loans in the several States and in the Territories, without allotment as hereinabove provided in such amounts for each State and Territory as, in the opinion of the Administrator, may be effectively employed for the purposes of this Act, and to carry out the provisions of section 7: Provided, however, That not more than 25 per centum of said unallotted annual sums may be employed in any one State, or in all of the Territories.

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“(e)“(e)

If any part of the annual sums made available for the purposes

Unexpended funds.

of this Act are not loaned or obligated during the fiscal year for which they are made available, such unexpended or unobligated sums shall be available for loans by the Administrator in the following year or years without allotment: Provided, however, That not more than 25 per centum of said sums for rural electrification loans may be employed in any one State or in all of the Territories.”

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Sec. 2.

Section 4 of such Act is amended by striking out “10 per

7 USC 904.

centum” and inserting “25 per centum”.