,,ii  #aafth ,,congress  #b;d ,session  
,s4 #daeb  ,,in ,,the ,,senate ,,of     
,,the ,,united ,,states  ,july #b1      
#bjbj,mr4 ,hoeven 7for himself1 ,mr4    
,boozman1 ,ms4 ,smith1 and ,ms4 ,sinema7
 introduced the following bill2 which   
was read twice and referred to the      
,committee on ,agriculture1 ,nutrition1 
and ,forestry  ,a ,,bill  ,to provide   
for the adjustment or modification by   
the ,secretary of ,agriculture of loans 
for critical rural utility service      
providers1 and for other purposes4  #a4 
,short title ,this ,act may be cited as 
the ,flexible ,financing for ,rural     
,america ,act of #bjbj4  #b4 ,loan      
adjustments for critical rural utility  
service providers  7a7 ,in general ,not 
later than #ahj days after the date of  
enactment of this ,act1 the borrower of 
a qualified loan described in subsection
 7b7 may submit to the ,secretary of    
,agriculture 7referred to in this       
section as the ,secretary7 a request to 
adjust the interest rate or modify any  

other term of the qualified loan1 which 
shall include a report summarizing how  
the adjustment or modification will     
assist the borrower in providing        
critical utility services to a rural    
community4  7b7 ,qualified loan         
described ,a qualified loan referred to 
in subsection 7a7 is a loan made or     
guaranteed on or before the date of     
enactment of this ,act under-- 7#a7     
section #d1 #bja1 #cje1 #cjf1 or #fja of
 the ,rural ,electrification ,act of    
#aicf 7#g ,u4,s4,c4 #ijd1 #ibb1 #ice1   
#icf1 #iej;bb72 or  7#b7 the program    
carried out under the matter under the  
heading ,distance ,learning1            
,telemedicine1 and ,broadband ,program  
in title ,i of division ,a of the       
,american ,recovery and ,reinvestment   
,act of #bjji 7,public ,law #aaa-e2 #abc
 ,stat4 #aah7 7commonly known as the    
,broadband ,initiatives ,program74  7c7 
,adjustment of interest rate2           
modification of loan terms  7#a7 ,in    
general ,on receipt of a request made   

under subsection 7a7 with respect to a  
loan1 the ,secretary-- 7,a7 in the case 
of a request for an interest rate       
adjustment1 shall adjust the interest   
rate on the loan to the cost of funds to
 the ,department of the ,treasury1 as of
 the date of enactment of this ,act1 for
 obligations of comparable maturity to  
the term remaining on the outstanding   
balance of the loan or other such higher
 rate as the borrower may request2 and  
7,b7 in the case of a request for a     
modification to a loan term other than  
the adjustment described in subparagraph
 7,a71 may use the authorities provided 
in sections #b1 #bja1 #cjf;,c and #gjc  
of the ,rural ,electrification ,act of  
#aicf 7#g ,u4,s4,c4 #ijb1 #ibb1 #icf;c1 
#iej;cc-#b7 and section #cca7;b77#d7 of 
the ,consolidated ,farm and ,rural      
,development ,act 7#g ,u4,s4,c4         
#aiha7;b77#d77 to make such other       
modifications to the loan terms that the
 ,secretary determines are necessary--  
7i7 to address changes in the financial 

position of the borrower due to the     
public health emergency declared by the 
,secretary of ,health and ,human        
,services under section #cai of the     
,public ,health ,service ,act 7#db      
,u4,s4,c4 #bdg;d7 on ,january #ca1      
#bjbj1 with respect to ,,covid-#ai2 and 
7ii7 to promote the financial           
sustainability of the borrower4  7#b7   
,effective date ,an adjustment or       
modification under subparagraph 7,a7 or 
7,b71 respectively1 of paragraph 7#a7   
shall apply beginning on the first day  
after the close of the period with      
respect to which the first payment due  
on the loan after the date of the       
request applies4  7d7 ,no fees or       
penalties ,in carrying out this section1
 the ,secretary shall not impose or     
collect any fee from1 or impose any     
penalty on1 a borrower4  7e7 ,notice    
,not later than #cj days after the date 
of enactment of this ,act1 the          
,secretary shall publish in the ,federal
 ,register a notice of the benefits     

available to borrowers under this       
section4  7f7 ,appropriation  7#a7 ,in  
general ,out of any amounts in the      
,treasury not otherwise appropriated1   
there are appropriated to the           
,secretary-- 7,a7 such sums as are      
necessary to carry out subsection       
7c77#a77;,a72 and  7,b7 #cjj1jjj1jjj to 
carry out subsection 7c77#a77;,b74  7#b7
 ,availability ,the amounts appropriated
 by paragraph 7#a7 shall remain         
available through ,december #ca1 #bjba4 
7#c7 ,emergency designation  7,a7 ,in   
general ,the amounts provided by this   
,act are designated as an emergency     
requirement pursuant to section #d7;g7  
of the ,statutory ,pay-,as-,you-,go ,act
 of #bjaj 7#b ,u4,s4,c4 #icc7;g774  7,b7
 ,designation in senate ,in the ,senate1
 this ,act is designated as an emergency
 requirement pursuant to section        
#daab7;a7 of ,h4 ,con4 ,res4 #ga 7#aaeth
 ,congress71 the concurrent resolution  
on the budget for fiscal year #bjah4