CREATION OF SEPARATE ELECTRIC AND TELEPHONE ACCOUNTS WITHIN RURAL ELECTRIC AND TELEPHONE REVOLVING FUND.

SEC. 2359. CREATION OF SEPARATE ELECTRIC AND TELEPHONE ACCOUNTS WITHIN RURAL ELECTRIC AND TELEPHONE REVOLVING FUND. Section 302 (7 U.S.C. 932) is amended by adding at the end the following new subsection: “(c) (1) The Administrator shall maintain two separate accounts within the fund, which shall be known as the electric account and the telephone account, respectively. “(2) (A) The Administrator shall account for the assets, liabilities, income, expenses, and equity of the fund attributable to electrification loan operations in the electric account. “(B) The Administrator shall account for the assets, liabilities, income, expenses, and equity of the fund attributable to telephone loan operations in the telephone account. “(3) (A) The assets accounted for in the electric account shall be available solely for electrification loan operations under this Act. 104 STAT. 4042 “(B) The assets accounted for in the telephone account shall be available solely for telephone loan operations under this Act (other than under title IV).”.