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H.R. 2244 · 117th Congress

Flexible Financing for Rural America Act

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Never voted on. It didn't reach a floor vote before the 117th Congress ended, so it expired. A bill has to be introduced again to be considered in a new Congress.

TOD O’HalleranSponsor
213 cosponsors · 88 D, 125 R
VHR Hartzler RAR Allen RDR Davis NDR Dunn ADD Delgado BFR Fitzpatrick MFR Fischbach JGD Garamendi MGR Gaetz JHR Hice TKR Kelly KKD Kahele FLR Lucas ELD Luria CMR Miller DPD Payne TRR Rice ASR Scott GSD Stanton TTR Tiffany SBR Bice GBR Bilirakis DBR Bishop RCR Crawford TER Emmer RGD Grijalva RGD Gallego RKD Kind DRR Rouzer PSR Stauber GKD Butterfield ABR Barr CBD Bustos MBR Bost DBR Bacon LBD Blunt Rochester ABD Brown TBR Balderson JDR Duncan BJR Johnson LMR McClain MRR Rogers SSR Stivers WSR Steube RHR Hudson RLR Latta KSD Schrader AWR Wagner AAD Adams JCR Carl JCR Comer AGR Gonzalez DJR Johnson AKD Kim FKR Keller BLR Luetkemeyer BLR Long NMR Mace MMR Mullin RNR Norman TBR Budd JBR Baird TBR Burchett KCR Cammack TCR Cole BCR Cline ACD Craig RER Estes CFR Fleischmann LGR Gooden JJR Jordan TLD Leger Fernandez JMR Moolenaar SMD Murphy DMR Meuser MRR Rosendale DWR Webster SWR Womack RAR Aderholt JAR Arrington SBD Bishop BBR Babin KBR Buck ECD Cleaver SDR DesJarlais VDD Demings MGR Guest AKD Kirkpatrick DKD Kilmer AKD Kuster DLR LaMalfa CLD Lamb APR Pfluger MPD Pocan SPD Plaskett DRD Ross MVD Veasey FVD Vela JWR Wilson RWR Wittman JWR Walorski BWR Wenstrup RWR Williams BWR Westerman JBR Bergman SCR Chabot JCD Costa TCD Cárdenas DDD Davis CFR Franklin DHR Harshbarger JHR Hagedorn DKD Kildee DKR Kustoff JMD McGovern TMR Mann KMD Manning RND Neal MND Newman BRD Rush JRR Rutherford DSD Soto MSD San Nicolas PTD Tonko SGR Graves GGR Grothman DLR Lesko PMR Meijer RRD Ruiz KRD Rice ASD Spanberger WTR Timmons PWD Welch DYR Young BCR Carter VGD Gonzalez AGR Garbarino BHR Huizenga HJD Johnson RJR Jackson ALD Lawson BMR Moore BPR Posey JSR Smith MDR Diaz-Balart DTD Trone DDD DeGette SDD Davids SGD Garcia AMD McEachin TRR Reed JRR Rose KSD Schrier LFD Frankel HGR Griffith AMR Mooney GMR Murphy DNR Newhouse JPD Panetta CPD Pappas JCD Crow TWR Walberg JAD Auchincloss KAR Armstrong MCR Cawthorn AFR Ferguson CHR Higgins YHR Herrell JLR LaTurner BMR Mast BMR Moore DPD Price GRR Reschenthaler TSD Sewell JVR Van Drew JBD Brownley LBR Bucshon AKR Kinzinger LSR Smucker MKR Kelly TRD Ryan FUR Upton JVD Vargas BGR Guthrie RKD Krishnamoorthi BSD Scott GCD Connolly MMR Miller-Meeks GMD Meng BMD McCollum AED Eshoo LMD McBath MCR Carey JBD Beatty RKD Kelly DDD Dingell ECD Case MBR Burgess SHD Horsford PDD DeFazio SMD Maloney HRR Rogers MSR Simpson ESR Stefanik TSD Suozzi SPR Palazzo ESD Slotkin SDD DelBene JND Neguse JWD Wexton SCD Carbajal TLD Lieu RKD Khanna

1 signed on when it was introduced; the rest joined later. Cosponsors who withdrew aren't shown.

This bill allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community.

What it does: CRS summary · Introduced in House · Mar 26, 2021

Flexible Financing for Rural America Act

This bill allows rural utility service providers to submit to the Department of Agriculture (USDA) a request to adjust the interest rate or modify the terms of certain loans. The request shall include a report summarizing how the adjustment or modification will assist the borrower in providing critical utility services to a rural community.

Specifically, on receipt of a request, USDA or the Department of the Treasury (in the case of a loan owned by the Federal Financing Bank) must

  • adjust the interest rate on the loan to match certain interest rates for obligations of comparable maturity to the term remaining on the loan (or a higher rate requested by the borrower), and
  • make modifications to the loan terms as necessary to address changes in the financial position of the borrower due to the COVID-19 public health emergency and to promote the financial sustainability of the borrower.

In carrying out the adjustments or modifications, USDA or Treasury shall not impose or collect any fee from, or impose any penalty on, a borrower.

The bill also provides funding to implement the adjustments and modifications and for the liquidation of residual intragovernmental amounts owed by the Federal Financing Bank in connection with certain loans.

Written by the nonpartisan Congressional Research Service. All summary versions on Congress.gov

About this bill and sources

Official title: Flexible Financing for Rural America Act

Latest action (Jun 15, 2021): Referred to the Subcommittee on Commodity Exchanges, Energy, and Credit.

Policy area: Agriculture and Food · Origin: House · Introduced: Mar 26, 2021

Official page on Congress.gov · Bill text (GovInfo) · Status record (XML)

No recorded floor vote found.