Page:United States Statutes at Large Volume 115 Part 1.djvu/746

 115 STAT. 724 PUBLIC LAW 107-76—NOV. 28, 2001 RURAL COOPERATIVE DEVELOPMENT GRANTS For rural cooperative development grants authorized under section 310B(e) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1932), $7,750,000, of which $2,500,000 shall be available for cooperative agreements for the appropriate technology transfer for rural areas program: Provided, That not to exceed $1,497,000 of the total amount appropriated shall be made available to cooperatives or associations of cooperatives whose primary focus is to provide assistsmce to small, minority producers and whose governing board and/or membership is comprised of at least 75 percent minority. RURAL EMPOWERMENT ZONES AND ENTERPRISE COMMUNITIES GRANTS For grants in connection with a second round of empowerment zones and enterprise communities, $14,967,000, to remain available until expended, for designated rural empowerment zones and rural enterprise communities, as authorized by the Taxpayer Relief Act of 1997 and the Omnibus Consolidated and Emergency Supplemental Appropriations Act, 1999 (Public Law 105-277). RURAL UTILITIES SERVICE RURAL ELECTRIFICATION AND TELECOMMUNICATIONS LOANS PROGRAM ACCOUNT (INCLUDING TRANSFER OF FUNDS) Insured loans pursuant to the authority of section 305 of the Rural Electrification Act of 1936 (7 U.S.C. 935) shall be made as follows: 5 percent rural electrification loans, $121,107,000; municipal rate rural electric loans, $500,000,000; loans made pursuant to section 306 of that Act, rural electric, $2,700,000,000; Treasury rate direct electric loans, $750,000,000; 5 percent rural telecommunications loans, $74,827,000; cost of money rural telecommunications loans, $300,000,000; and loans made pursuant to section 306 of that Act, rural telecommunications loans, $120,000,000. For the cost, as defined in section 502 of the Congressional Budget Act of 1974, including the cost of modifying loans, of direct and guaranteed loans authorized by the Rural Electrification Act of 1936 (7 U.S.C. 935 and 936), as follows: cost of rural electric loans, $3,689,000, and the cost of telecommunication loans, $2,036,000: Provided, That notwithstanding section 305(d)(2) of the Rural Electrification Act of 1936, borrower interest rates may exceed 7 percent per year. In addition, for administrative expenses necessary to carry out the direct and guaranteed loan programs, $36,000,000, which shall be transferred to and merged with the appropriation for "Rural Development, Salaries and Expenses".

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