Title 7 — Agriculture
Chapter 31 — Rural Electrification and Telephone Service
§ 905. Fees for certain loan guarantees
Statutory text
In general
For electrification baseload generation loan guarantees, the Secretary shall, at the request of the borrower, charge an upfront fee to cover the costs of the loan guarantee.
Fee
The fee described in subsection (a) for a loan guarantee shall be equal to the costs of the loan guarantee (within the meaning of section 661a(5)(C) of title 2).
Limitation
Funds received from a borrower to pay the fee described in this section shall not be derived from a loan or other debt obligation that is made or guaranteed by the Federal Government.
Legislative history
Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.
Agricultural Act of 2014
Pub. L. 113–79 title VI § 6101 · 128 Stat. 649
Enacted · 7 U.S.C. § 905
(May 20, 1936, ch. 432, title I, § 5, as added Pub. L. 113–79, title VI, § 6101, Feb. 7, 2014, 128 Stat. 850.)
Source evidence
Code source credit
(May 20, 1936, ch. 432, title I, § 5, as added Pub. L. 113–79, title VI, § 6101, Feb. 7, 2014, 128 Stat. 850.)Enacted provision · exact public law section
SEC. 6101. FEES FOR CERTAIN LOAN GUARANTEES. The Rural Electrification Act of 1936 is amended by inserting after section 4 (7 U.S.C. 904) the following: “SEC. 5. FEES FOR CERTAIN LOAN GUARANTEES. “(a) In General.— For electrification baseload generation loan guarantees, the Secretary shall, at the request of the borrower, charge an upfront fee to cover the costs of the loan guarantee. “(b) Fee.— The fee described in subsection (a) for a loan guarantee shall be equal to the costs of the loan guarantee (within the meaning of section 502(5)(C) of the Federal Credit Reform Act of 1990 (2 U.S.C. 661a(5)(C))). “(c) Limitation.— Funds received from a borrower to pay the fee described in this section shall not be derived from a loan or other debt obligation that is made or guaranteed by the Federal Government.” .
1 of 1 references resolved to an enrolled provision
Editorial Notes
Prior Provisions
A prior section 905, acts May 20, 1936, ch. 432, title I, § 5, 49 Stat. 1365; Sept. 21, 1944, ch. 412, title V, § 502(b), 58 Stat. 739; Oct. 28, 1949, ch. 776, § 2, 63 Stat. 948; , Pub. L. 103–354, title II, § 235(a)(13), 108 Stat. 3221, related to loans for electrical and plumbing equipment and persons eligible for such loans, prior to repeal by Pub. L. 104–127, title VII, § 774(a), , 110 Stat. 1150.
Credits
(May 20, 1936, ch. 432, title I, § 5, as added Pub. L. 113–79, title VI, § 6101, , 128 Stat. 850.)