Page:United States Statutes at Large Volume 100 Part 1.djvu/959

 PUBLIC LAW 99-409—AUG. 28, 1986

100 STAT. 923

Public Law 99-409 99th Congress An Act To authorize the Secretary of Agriculture to make grants for the pur{>ose of establishing institutes of rural technology development.

Aug. 28, 1986 [H.R. 4331]

Be it enacted by the Senate and House of Representatives of the Rural Industrial United States of America in Congress assembled, Assistance Act of SECTION 1. That this Act may be cited as the "Rural Industrial 1986. Assistance Act of 1986". 7 USC 1921 note. SEC. 2. Section 310B of the Consolidated Farm and Rural Development Act (7 U.S.C. 1932) is amended by CD adding at the end of subsection (a) the following: "No loan Loans, may be made, insured, or guaranteed under this subsection that exceeds $25,000,000 in principal amount."; and (2) effective on October 1, 1986, adding at the end thereof the Effective date. following: "(f)(1) The Secretary may make grants under this subsection to public and nonprofit private institutions for the purpose of enabling them to establish and operate centers of rural technology development that have, as a primary objective, the improvement of the economic condition of rural areas by promoting the development (through technological innovation and adaptation of existing technology) and commercialization of (A) new products that can be produced in rural areas, and (B) new processes that can be used in such production. "(2) Grants under this subsection may be made on a competitive basis. In making grants, the Secretary shall give preference to applicants that will establish centers for rural technology in areas that have (A) few industries and agribusinesses, (B) high levels of unemployment, (C) high rates of out-migration of people, business, and industries, and (D) low levels of per capita income. "(3) If grants are to be made under this subsection, the Secretary Regulations. shall issue regulations implementing this subsection that shall include provisions for the monitoring and evaluation of the rural technology development activities carried out by institutions that receive grants under this subsection.". Approved August 28, 1986.

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LEGISLATIVE HISTORY—H.R. 4331: CONGRESSIONAL RECORD, Vol. 132 (1986): Mar. 6, considered and passed House. Aug. 15, considered and passed Senate.

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