7 U.S.C. § 950bb–5 — Default and deobligation; deferral
submitted 90 years ago by Pub. L. 115-334 to r/title-7-AGRICULTURE · 158 words · no verdicts yet
A translation hasn’t been published for this section yet. The official text below is complete and authoritative.
In addition to other authority under applicable law, the Secretary* shall establish written procedures for all broadband programs so that, to the maximum extent practicable, the programs are administered to—
recover funds from loan and grant defaults;
deobligate any awards, less allowable costs that demonstrate an insufficient level of performance (including metrics determined by the Secretary) or fraudulent spending, to the extent funds with respect to the award are available in the account relating to the program established by this subchapter;
award those funds, on a competitive basis, to new or existing applicants consistent with this subchapter; and
minimize overlap among the programs.
In determining the terms and conditions of assistance provided under this subchapter, the Secretary may establish a deferral period of not shorter than the buildout period established for the project involved in order to support the financial feasibility and long-term sustainability of the project.
Source credit: (May 20, 1936, ch. 432, title VI, § 606, as added Pub. L. 115–334, title VI, § 6206, Dec. 20, 2018, 132 Stat. 4739.)
- 1936Enacted · Pub. L. 115-334 · 132 Stat. 4739
A history note hasn’t been published yet. The record shows enactment by Pub. L. 115-334 on 1936-05-20.
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