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7 U.S.C. § 2009f — Transfers of funds

Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2009f — Transfers of funds

**(a) General authority** Subject to subsection (b) of this section, the State Director 11 So in original. Probably should not be capitalized. of any State may, during any fiscal year, transfer from each account specified in [section 2009d(c) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009d/c&num=0&edition=prelim) a total of not more than 25 percent of the amount in the account that is allocated for the State for the fiscal year to any other account in which amounts are allocated for the State for the fiscal year. **(b) Limitation** Except as provided in subsection (c) of this section, a transfer otherwise authorized by subsection (a) of this section to be made during a fiscal year may not be made to the extent that the sum of the amount to be transferred and all amounts so transferred by State directors under subsection (a) of this section during the fiscal year exceeds 10 percent of the total amount made available to carry out the authorities described in [section 2009d(d) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009d/d&num=0&edition=prelim) for the fiscal year. **(c) Exceptions** Subsections (a) and (b) shall not apply to a transfer of funds by a State director if the State director certifies to the Secretary that— (1) there is an approved application for a project in the function category to which the funds are to be transferred but funds are not available for the project in the function category; and (2) (A) there is no such approved application in the function category from which the funds are to be transferred; or (B) the community that would benefit from the project has a smaller population and a lesser per capita income than any community that would benefi

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Stable record: federal_law:legal_authorities:record_usc_7b55658d475ae5604f519e0f
Source file: Laws/federal/codes/united-states-code/title-7/section-2009f-transfers-of-funds--bb6c2cea1a.md
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Passage SHA-256: db35733696e3547c86a3fb284a0c8861eabcbe150035a23ae019726901a8d04a

Source location: Title 7, Chapter 50, § 2009f; chapter-050-agricultural-credit.md

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2009e — Rural Development Trust Fund

**(a) Establishment** There is established in the Treasury of the United States a trust fund which shall be known as the Rural Development Trust Fund (in this subchapter referred to as the “Trust Fund”). **(b) Accounts** There are established in the Trust Fund the following accounts: (1) The rural community facilities account. (2) The rural utilities account. (3) The rural business and cooperative development account. (4) The federally recognized Indian tribe account. **(c) Deposits into accounts** Notwithstanding any other provision of law, each fiscal year— (1) all amounts made available to carry out the authorities described in subsection (d)(1) for the fiscal year shall be deposited into the rural community facilities account of the Trust Fund; (2) all amounts made available to carry out the authorities described in subsection (d)(2) for the fiscal year shall be deposited into the rural utilities account of the Trust Fund; and (3) all amounts made available to carry out the authorities described in subsection (d)(3) for the fiscal year shall be deposited into the rural business and cooperative development account of the Trust Fund. **(d) Function categories** The function categories described in this subsection are the following: (1) **Rural community facilities** — The rural community development category consists of all amounts made available for— (A) community facility direct and guaranteed loans under [section 1926(a)(1) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926/a/1&num=0&edition=prelim); or (B) community facility grants under paragraph (19), (20), or (21) of [section 1926(a) of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section1926/a&num=0&edition=prelim).

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2009h — Guarantee and commitment to guarantee loans

**(a) “Eligible public entity” defined** In this section, the term “eligible public entity” means any unit of general local government. **(b) Guarantee and commitment** The Secretary, on such terms and conditions as the Secretary may prescribe, may guarantee and make commitments to guarantee notes or other obligations issued by eligible public entities, or by public agencies designated by the eligible public entities, for the purposes of financing rural development activities authorized and funded under [section 2009f of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009f&num=0&edition=prelim). **(c) Limitation** The Secretary may not make a guarantee or commitment to guarantee with respect to a note or other obligation if the total amount of outstanding notes or obligations guaranteed under this section (excluding any amount repaid under the contract entered into under subsection (e)(1)(A)) for issuers in the State would exceed an amount equal to 5 times the sum of the total amount of grants made to the State under [section 2009f of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009f&num=0&edition=prelim). **(d) Payment of principal, interest, and costs** Notwithstanding any other provision of this subchapter, a State to which a grant is made under [section 2009f of this title](https://uscode.house.gov/view.xhtml?req=granuleid:USC-prelim-title7-section2009f&num=0&edition=prelim) may use the grant (including program income derived from the grant) to pay principal and interest due (including such servicing, underwriting, or other costs as may be specified in regulations of the Secretary) on any note or other obligation guaranteed under this section. **(e) Repayment contract; security**

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Federal law — U.S. Code and appendices · legal_authorities

7 U.S.C. § 2009f — Grants to States

Page 1193 TITLE 7—AGRICULTURE § 2009f 1 So in original. Probably should not be capitalized. 1932] and described in sections 306C(a)(2), 306D, 306E, and 381E(d)(2) of such Act be transferred to and merged with the ‘Rural Water and Waste Disposal Program Account’ and any other prior balances from the Rural Development, Rural Community Advance- ment Program account that the Secretary deter- mines are appropriate to transfer.’’ § 2009e. Transfers of funds (a) General authority Subject to subsection (b) of this section, the State Director 1 of any State may, during any fiscal year, transfer from each account specified in section 2009d(c) of this title a total of not more than 25 percent of the amount in the ac- count that is allocated for the State for the fis- cal year to any other account in which amounts are allocated for the State for the fiscal year. (b) Limitation Except as provided in subsection (c) of this section, a transfer otherwise authorized by sub- section (a) of this section to be made during a fiscal year may not be made to the extent that the sum of the amount to be transferred and all amounts so transferred by State directors under subsection (a) of this section during the fiscal year exceeds 10 percent of the total amount made available to carry out the authorities de- scribed in section 2009d(d) of this title for the fiscal year. (c) Exceptions Subsections (a) and (b) shall not apply to a transfer of funds by a State director if the State director certifies to the Secretary that— (1) there is an approved application for a project in the function category to which the funds are to be transferred but funds are not available for the project in the function cat- egory; and (2)(A) there is no such approved application in the fun

Source: Supplied 2024 U.S. Code historical extraction · 7 U.S.C. § 2009f

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