43 U.S.C. § 2422 — Project eligibility

(a) Eligibility criteria. (1) In general. The Secretary^* must develop and publish in the Federal Register criteria for deciding whether a project^* qualifies for financial assistance under section 2423. (2) Inclusions. The criteria must include: (A) an application submitted by the lender^*; (B) proof that the project is creditworthy, including the Secretary’s determination that its financing has adequate security features to ensure repayment; (C) proof, satisfactory to the Secretary, that the non-Federal borrower^* can repay the financing from user fees or other dedicated revenue; (D) proof, satisfactory to the Secretary, that the borrower can pay all operating, maintenance, and replacement costs of the facilities; and (E) other criteria the Secretary considers appropriate.

(b) Waiver. The Secretary may waive a criterion in subsection (a)(2) if the Secretary finds it duplicates another requirement or is unnecessary because the United States has already taken an action that makes it unnecessary.

(c) Projects previously authorized. A project authorized for construction under Federal reclamation laws before December 22, 2006, qualifies for assistance under this subchapter if it meets the Secretary’s subsection (a) criteria.

(d) Criteria for rural water supply projects. A rural water supply project found feasible under section 2405 qualifies for a loan guarantee^* under section 2423.