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7 U.S.C. · Agriculture
7 U.S.C. § 950bb5

Default and deobligation; deferral

Ch. 31 — RURAL ELECTRIFICATION AND TELEPHONE SERVICE
Title 7 U.S.C. ● ACTIVE Primary Source Ch. 31
Statutory Text

7 U.S.C. § 950bb5 — Default and deobligation; deferral

U.S.C. Title 7 - AGRICULTURE 7 U.S.C. United States Code, 2023 Edition Title 7 - AGRICULTURE CHAPTER 31 - RURAL ELECTRIFICATION AND TELEPHONE SERVICE SUBCHAPTER VI - RURAL BROADBAND ACCESS Sec. 950bb-5 - Default and deobligation; deferral From the U.S. Government Publishing Office, www.gpo.gov

§950bb–5. Default and deobligation; deferral

(a) Default and deobligation 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— (1) recover funds from loan and grant defaults; (2) 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; (3) award those funds, on a competitive basis, to new or existing applicants consistent with this subchapter; and (4) minimize overlap among the programs. (b) Deferral period 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.

(May 20, 1936, ch. 432, title VI, §606, as added Pub. L. 115–334, title VI, §6206, Dec. 20, 2018, 132 Stat. 4739.)

Source: uscode.house.gov — public domain Official Source ↗
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Citation
7 U.S.C. § 950bb5
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The statutory text of 7 U.S.C. § 950bb5 is reproduced from the official United States Code as published by the Office of the Law Revision Counsel of the U.S. House of Representatives (uscode.house.gov).
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← 7 U.S.C. § 950bb4 7 U.S.C. § 950bb6 →
Ch. 31 — RURAL ELECTRIFICATION AND TELEPHONE SERVICE
7 U.S.C. § 9017 U.S.C. § 9027 U.S.C. § 9037 U.S.C. § 9047 U.S.C. § 9057 U.S.C. § 9067 U.S.C. § 906a7 U.S.C. § 9077 U.S.C. § 9087 U.S.C. § 9097 U.S.C. § 9107 U.S.C. § 9117 U.S.C. § 911a7 U.S.C. § 9127 U.S.C. § 912a7 U.S.C. § 9137 U.S.C. § 9147 U.S.C. § 9157 U.S.C. § 9167 U.S.C. § 9177 U.S.C. § 9187 U.S.C. § 918a7 U.S.C. § 918b7 U.S.C. § 918c7 U.S.C. § 9217 U.S.C. § 921a7 U.S.C. § 9227 U.S.C. § 9237 U.S.C. § 9247 U.S.C. § 925
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