7 U.S.C. § 936f — Substantially underserved trust areas

(a) Definitions. (1) “Eligible program” means a Rural Utilities Service program authorized by this chapter, listed paragraphs of 7 U.S.C. § 1926(a), or 7 U.S.C. §§ 1926a, 1926c, 1926d, or 1926e. (2) “Substantially underserved trust area” means a community in “trust land” (defined in 38 U.S.C. § 3765) that the Secretary^* finds has a high need for eligible-program benefits. This section does not otherwise define those quoted terms.

(b) Initiative. After consulting local governments and Federal agencies, the Secretary may create an initiative to identify and improve eligible-program availability in those communities.

(c) Authority. To carry it out, the Secretary may: (1) offer qualified utilities or applicants Rural Utilities Service loan or guarantee financing at an interest rate as low as 2 percent with longer repayment terms; (2) waive nonduplication, matching-fund, or credit-support requirements in Rural Utilities Service loan or grant programs to help build, acquire, or improve infrastructure; and (3) give designated projects the highest funding priority. The Secretary may make only financially feasible loans or guarantees that provide eligible-program benefits to substantially underserved trust areas.

(d) Report. Within one year after enactment and every year afterward, the Secretary must report to Congress on (1) the initiative’s progress and (2) recommended regulatory or legislative changes appropriate to improve service to those areas.