,,ii #aagth ,,congress #ast ,session ,s4 #igh ,,in ,,the ,,senate ,,of ,,the ,,united ,,states ,march #be1 #bjba,ms4 ,smith 7for herself1 ,mr4 ,hoeven1 ,ms4 ,sinema1 ,mr4 ,boozman1 ,mrs4 ,capito1 ,mr4 ,schatz1 ,mr4 ,cornyn1 ,mr4 ,kelly1 ,mr4 ,cramer1 ,ms4 ,hirono1 ,mr4 ,daines1 ,ms4 ,klobuchar1 ,ms4 ,ernst1 ,mr4 ,tester1 ,mr4 ,inhofe1 ,mr4 ,peters1 ,mr4 ,moran1 ,mr4 ,rounds1 ,mr4 ,scott of ,south ,carolina1 ,mr4 ,tillis1 ,mr4 ,marshall1 and ,ms4 ,baldwin7 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 #bjba4 #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 by the ,secretary of a request made under subsection 7a7 with respect to a loan1 the ,secretary1 or the ,secretary of the ,treasury in the case of a loan owned by the ,federal ,financing ,bank-- 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 ,treasury 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;,c1 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 ,secretary1 in consultation with the ,secretary of the ,treasury in the case of a loan owned by the ,federal ,financing ,bank1 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-#ai 7or any renewal of that declaration72 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-- 7,a7 beginning on the first calendar day after the payment date immediately following the request2 but 7,b7 not earlier than #cj days after the date of the request4 7d7 ,no fees or penalties ,in carrying out this section1 the ,secretary1 or the ,secretary of the ,treasury in the case of a loan owned by the ,federal ,financing ,bank1 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 ,secretary1 in coordination with the ,secretary of the ,treasury1 shall publish in the ,federal ,register a notice of the benefits available to borrowers under this section4 7f7 ,appropriations2 reimbursements 7#a7 ,in general ,out of any amounts in the ,treasury not otherwise appropriated-- 7,a7 there are appropriated to the ,secretary such sums as are necessary1 to remain available until ,december #ca1 #bjba1 for the cost of interest rate adjustments under subsection 7c77#a77;,a72 7,b7 there is appropriated to the ,secretary #cjj1jjj1jjj1 to remain available until ,december #ca1 #bjba1 for the cost of modifications under subsection 7c77#a77;,b72 and 7,c7 there are appropriated to the ,federal ,financing ,bank such sums as are necessary1 to remain available until ,december #ca1 #bjbc1 for the liquidation of residual intragovernmental amounts owed by the ,federal ,financing ,bank in connection with qualified loans described in subsection 7b7 modified after the date of enactment of this ,act4 7#b7 ,calculation ,for purposes of paragraph 7#a77;,c71 the calculation of the sums necessary for the liquidation of residual intragovernmental amounts owed shall take into account all amounts otherwise transferred to the ,federal ,financing ,bank for the qualified loans described in that paragraph4 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