12 2 STA T . 1 96 2 PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 ‘ ‘ (3)EQUITYANDM A RKE T S UR V EY REQUIREMENTS .— ‘‘( A ) I N G ENERA L .— TheS e cr e ta r ym ay re qui rea n entity t op ro v i d eaco s t share in an amount not to e x ceed 10 percent o f the amount of the l oan or loan g uarantee requested in the application of the entity , unless the Sec - retary determines that a higher percentage is required for financial feasi b ility. ‘‘( B ) M ARKET SURVEY.— ‘‘(i) IN GENERAL.—The Secretary may require an entity that proposes to have a subscriber pro j ection of more than 2 0 percent of the broadband service mar k et in a rural area to submit to the Secretary a market survey. ‘‘(ii) L ESS T H AN 20P ER C ENT.—The Secretary may not require an entity that proposes to have a subscriber projection of less than 20 percent of the broadband service market in a rural area to submit to the Sec- retary a market survey. ‘‘( 4 ) STATE AND L O CAL GOVERNMENTS AND INDIAN TRI B ES.— Subject to paragraph (1), a State or local government (including any agency, subdivision, or instrumentality thereof (including consortia thereof)) and an Indian tribe shall be eligible for a loan or loan guarantee under this section to provide broadband services to a rural area. ‘‘( 5 ) N OTICE REQUIREMENT.—The Secretary shall publish a notice of each application for a loan or loan guarantee under this section describing the application, including— ‘‘(A) the identity of the applicant
‘‘(B) each area proposed to be served by the applicant; and ‘‘( C ) the estimated number of households w ithout terrestrial-based broadband service in those areas. ‘‘( 6 ) P APER W ORK REDUCTION.—The Secretary shall take steps to reduce, to the maximum extent practicable, the cost and paperwork associated with applying for a loan or loan guarantee under this section by first-time applicants (particu- larly first-time applicants who are small and start-up broadband service providers), including by providing for a new application that maintains the ability of the Secretary to make an analysis of the risk associated with the loan involved. ‘‘( 7 ) PREAPPLICATION PROCESS.—The Secretary shall estab- lish a process under which a prospective applicant may seek a determination of area eligibility prior to preparing a loan application under this section. ‘‘(e) BROADBAND SERVICE.— ‘‘(1) IN GENERAL.—The Secretary shall, from time to time as advances in technology warrant, review and recommend modifications of rate-of-data transmission criteria for purposes of the identification of broadband service technologies under subsection (b)(1). ‘‘(2) PROHIBITION.—The Secretary shall not establish requirements for bandwidth or speed that have the effect of precluding the use of evolving technologies appropriate for rural areas. ‘‘(f) TECHNOLOGICAL NEUTRALITY.— F or purposes of determining whether to make a loan or loan guarantee for a project under Publicat i on.
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