12 2 STA T . 1 943PUBLIC LA W 11 0– 24 6—J U NE 1 8, 2008 Dev e lopm e ntAc t (asr e d es ig nated by s u bsection (c ) ( 1 )(A)) is amended — (1) in subsection (b)(1) , by stri k ing ‘ ‘ 75’ ’ and inserting ‘‘5 0 ’’
( 2 ) by striking subsection (c); ( 3 ) by redesignating subsection (d) as subsection (c); and ( 4 ) in subsection (c) (as so redesignated)— (A)int h e subsection heading, by inserting ‘‘ REN E W-ABL E E NE RGY ,’’ a f ter‘‘ T ELE COM M U N I CA T ION’’; and ( B ) by inserting ‘‘, rene w able energy,’’ after ‘‘tele- communication,’’ . (h) DE V ELO P MENT P LANNING PROCE S S.— S ection 3 8 3 H of the C onsolidated F arm and Rural Development Act (as redesignated by subsection (c)(1)(A)) is amended— (1) in subsection (c)(1), by striking subparagraph (A) and inserting the following
‘‘(A) multistate, regional, and local development dis- tricts and organi z ations; and’’; and (2) in subsection (d)(1), by striking ‘‘State and local develop- ment districts’’ and inserting ‘‘multistate, regional, and local development districts and organizations’’. (i) PROGRAM DEVELOPMENT CRITERIA.—Section 383 I (a)(1) of the Consolidated Farm and Rural Development Act (as redesignated by subsection (c)(1)(A)) is amended by inserting ‘‘multistate or’’ before ‘‘regional’’. ( j ) AUT H ORI Z ATION O F APPROPRIATIONS.—Section 383 N (a) of the Consolidated Farm and Rural Development Act (as redesignated by subsection (c)(1)(A)) is amended by striking ‘‘2002 through 2007’’ and inserting ‘‘2008 through 2012’’. (k) TERMINATION OF AUTHORITY.—Section 383 O of the Consoli- dated Farm and Rural Development Act (as redesignated by sub- section (c)(1)(A)) is amended by striking ‘‘2007’’ and inserting ‘‘2012’’. SEC.6027 . RU R ALB US IN ESS IN V ES TM ENT P R OG RAM. (a) ISSUANCE AN DG UARANTEE OF TRUST CERTIFICATES.—Sec- tion 384F(b)(3)(A) of the Consolidated Farm and Rural Development Act (7 U .S.C. 200 9 cc – 5(b)(3)(A)) is amended by striking ‘‘In the event’’ and inserting the following: ‘‘(i) AUTHORITY TO PREPAY.—A debenture may be prepaid at any time without penalty. ‘‘(ii) REDUCTION OF GUARANTEE.—Subject to clause (i), if’’. (b) FEES.—Section 384G of the Consolidated Farm and Rural Development Act (7 U.S.C. 2009cc– 6 ) is amended— (1) in subsection (a), by striking ‘‘such fees as the Secretary considers appropriate’’ and inserting ‘‘a fee that does not e x ceed $ 500’’; (2) in subsection (b), by striking ‘‘approved by the Sec- retary’’ and inserting ‘‘that does not exceed $500’’; and (3) in subsection (c)— (A) in paragraph (1), by striking ‘‘The’’ and inserting ‘‘Except as provided in paragraph (3), the’’; (B) in paragraph (2)— (i) in subparagraph (A), by striking ‘‘and’’ at the end; (ii) in subparagraph (B), by striking the period at the end and inserting ‘‘; and’’; and (iii) by adding at the end the following: 7USC20 0 9b b –13. 7 USC 2009bb–12. 7 USC 2009bb–7. 7 USC 2009bb– 6 . 7 USC 2009bb– 5 .
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