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Senate Bill 5046
116th Congress(2019-2020)
Rural Investment Act of 2020
Introduced
Introduced
Introduced in Senate on Dec 17, 2020
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Introduced in Senate 
Dec 17, 2020
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Introduced in Senate(Dec 17, 2020)
Dec 17, 2020
No Linkage Found
About Linkage
Multiple bills can contain the same text. This could be an identical bill in the opposite chamber or a smaller bill with a section embedded in a larger bill.
Bill Sponsor regularly scans bill texts to find sections that are contained in other bill texts. When a matching section is found, the bills containing that section can be viewed by clicking "View Bills" within the bill text section.
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S. 5046 (Introduced-in-Senate)


116th CONGRESS
2d Session
S. 5046


To amend the Consolidated Farm and Rural Development Act to authorize the contracting of functions under the Rural Business Investment Program, and for other purposes.

IN THE SENATE OF THE UNITED STATES

December 17, 2020

Mr. Barrasso (for Mrs. Fischer) introduced the following bill; which was read twice and referred to the Committee on Agriculture, Nutrition, and Forestry

A BILL

To amend the Consolidated Farm and Rural Development Act to authorize the contracting of functions under the Rural Business Investment Program, and for other purposes.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. Short title.

This Act may be cited as the “Rural Investment Act of 2020”.

SEC. 2. Contracting of functions.

Subtitle H of the Consolidated Farm and Rural Development Act is amended by inserting after section 384P (7 U.S.C. 2009cc–15) the following:

“SEC. 384Q. Contracting of functions.

“(a) In general.—Notwithstanding any other provision of law, to carry out the day-to-day management and operation of the program authorized by this subtitle on behalf of the Secretary, the Secretary shall enter into an interagency agreement under section 1535 of title 31, United States Code, with the Administrator of the Small Business Administration.

“(b) Funding.—The costs incurred by the Administrator of the Small Business Administration under an agreement entered into under subsection (a) shall be reimbursed in accordance with section 1535 of title 31, United States Code, from amounts made available under section 384S.”.

SEC. 3. Appropriation.

(a) In general.—There is appropriated, from amounts in the Treasury not otherwise appropriated, $1,000,000,000 to carry out the Rural Business Investment Program established under subtitle H of the Consolidated Farm and Rural Development Act (7 U.S.C. 2009cc et seq.).

(b) Requirement.—Not later than 180 days after the date of enactment of this Act, the Secretary of Agriculture, in coordination with the Administrator of the Small Business Administration, shall issue commitments to purchase, or to guarantee the timely payment of all principal and interest as scheduled on, debentures issued by rural business investment companies under subtitle H of the Consolidated Farm and Rural Development Act (7 U.S.C. 2009cc et seq.).