Page:United States Statutes at Large Volume 122.djvu/1987

 12 2 STA T . 1 964PUBLIC LA W 11 0– 246 —J U NE 1 8, 2008 ‘ ‘ (2) ( A ) thecom m uni tie spr opose d to b e ser v edine a ch l oan application submitted f or the fiscal y ear and ‘‘( B ) the communities served by pro j ects funded by loans and loan g uarantees provided under this section; ‘‘( 3 ) the period of time re q uired to approve each loan application under this section; ‘‘( 4 ) any outreach activities carried out by the S ecretary to encourage entities in rural areas w ithout broadband service to submit applications under this section; ‘‘( 5 ) the method by which the Secretary determines that a service enables a subscriber to originate and receive high - quality voice , data, graphics, and video for purposes of sub- section (b)( 1 ); and ‘‘( 6 ) each broadband service, including the type and speed of broadband service, for which assistance was sought, and each broadband service for which assistance was provided, under this section . ‘‘( k ) FUNDI N G . — ‘‘(1) AU THOR I ZA TION O F A P PROPRIATION S .— T here is author- i z ed to be appropriated to the Secretary to carry out this section $ 25, 0 00,000 for each of fiscal years 200 8 through 2012, to remain available until e x pended. ‘‘(2) A L LO C ATION OF FUNDS.— ‘‘(A) I NG E NERAL.—From amounts made available for each fiscal year under this subsection, the Secretary shall— ‘‘(i) establish a national reserve for loans and loan guarantees to eligible entities in States under this section; and ‘‘(ii) allocate amounts in the reserve to each State for each fiscal year for loans and loan guarantees to eligible entities in the State. ‘‘(B) A M OUNT.—The amount of an allocation made to a State for a fiscal year under subparagraph (A) shall bear the same ratio to the amount of allocations made for all States for the fiscal year as— ‘‘(i) the number of communities with a population of 2,500 inhabitants or less in the State; bears to ‘‘(ii) the number of communities with a population of 2,500 inhabitants or less in all States. ‘‘( C ) U NO B LIGATED AMOUNTS.—Any amounts in the reserve established for a State for a fiscal year under subparagraph (B) that are not obligated by April 1 of the fiscal year shall be available to the Secretary to make loans and loan guarantees under this section to eligible entities in any State, as determined by the Secretary. ‘‘(l) TERMINATION OF AUTHORIT Y .— N o loan or loan guarantee may be made under this section after September 30, 2012. ’ ’. (b) R EGULATIONS.—The Secretary may implement the amend- ment made by subsection (a) through the promulgation of an interim regulation. (c) APPLICATION.—The amendment made by subsection (a) shall not apply to— (1) an application submitted under section 601 of the Rural E lectrification Act of 1 9 36( 7 U.S.C. 950bb) (as it existed before the amendment made by subsection (a)) that— (A) was pending on the date that is 45 days prior to the date of enactment of this Act; and 7USC950b b note. 7 USC 950bb note.

�