About | HeinOnline Law Journal Library | HeinOnline Law Journal Library | HeinOnline
LOG IN
LOG IN

1 1 (June 01, 2020)

handle is hein.crs/govdavv0001 and id is 1 raw text is: Researh Sevice USDA Rural Development and COVID-19: Supplemental Funding and Agency Actions Updated June 1, 2020 The U.S. Department of Agriculture (USDA) Rural Development agency (RD) administers loan, grant, and technical assistance programs that support infrastructure, housing, and business development in rural areas. In response to the COVID- 19 pandemic, Congress provided supplemental funding to certain RD programs. In addition, RD has taken a number of actions to provide relief for current program participants and assist potential applicants in applying for program funding. CARES Act Provisions Related to USDA RD Programs Congress included supplemental funding for, and provisions related to, RD programs in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act, P.L. 116-136). Division B of this act includes $25 million for the Distance Learning and Telemedicine (DLT) Program and $100 million for grants under the ReConnect broadband pilot program. It also provides a $20.5 million loan subsidy for the Business and Industry (B&I) Loan Guarantee Program, which will support approximately $1 billion in loan guarantees to businesses in eligible rural areas. The loan subsidy is the estimated cost of providing a certain level of loans, including administrative costs and the potential costs of borrower defaults. In January 2020, prior to enactment of the CARES Act, RD began accepting applications for the second round of ReConnect finding. In March 2020, after President Trump signed the CARES Act into law, RD announced that it would use the supplemental CARES Act funding to award additional grants under the second round of ReConnect. The application window for the second round of ReConnect was open January 31-April 15, 2020. In April 2020, RD announced a second application window for FY2020 DLT funding and stated that it will use the supplemental CARES Act funding in addition to unused funds from the first FY2020 DLT application window. The application window for DLT is open April 14-July 13, 2020. In May 2020, RD began accepting applications for CARES Act B&I loan guarantees. RD changed certain terms from the traditional B&I Loan Guarantee Program, including increasing the maximum guarantee from 80% to 90% of the loan amount and increasing the maximum term for working capital loans from seven years to 10 years. The CARES Act's fbreclosure moratorium, single-family and multifanfily mortgage forbearance provisions, and eviction moratorium apply to RD rural housing programs, including single-family and multifamily direct and guaranteed loans and rural rental assistance. Prior to enactment of the CARES Act, Congressional Research Service https://crsreports.congress.gov IN11391 CF'S NS GHT Prepaimed for Mernbei-s and Committees 4 o. C- --q .. . . . . . . . ...----------------------------------------------------------------------------------------------------------------------------------------------------------------------

What Is HeinOnline?

HeinOnline is a subscription-based resource containing thousands of academic and legal journals from inception; complete coverage of government documents such as U.S. Statutes at Large, U.S. Code, Federal Register, Code of Federal Regulations, U.S. Reports, and much more. Documents are image-based, fully searchable PDFs with the authority of print combined with the accessibility of a user-friendly and powerful database. For more information, request a quote or trial for your organization below.



Short-term subscription options include 24 hours, 48 hours, or 1 week to HeinOnline.

Purchase Access

Contact us for annual subscription options:

Contact Us

Already a HeinOnline Subscriber?

Log In

profiles profiles most