RURAL LOCAL TELEVISION BROADCAST SIGNAL LOAN GUARANTEES.

SEC. 6404. RURAL LOCAL TELEVISION BROADCAST SIGNAL LOAN GUARANTEES. (a) In General.—Section 1011(a) of the Launching Our Communities’ Access to Local Television Act of 2000 (47 U.S.C. 1109(a)) is amended— (1) by striking ‘Tor” and inserting the following: “(1) Authorization of appropriations.—For”; and (2) by adding at the end the following: “(2) Commodity credit corporation funds.— “(A) In general.—Notwithstanding any other provision of law, subject to subparagraph (B), in addition to amounts made available under paragraph (1), of the funds of the Commodity Credit Corporation, the Secretary of Agriculture shall make available for loan guarantees to carry out this title $80,000,000 for the period beginning on the date of enactment of this paragraph and ending on December 31, 2006, to remain available until expended. “(B) Broadband loans and loan guarantees.— “(i) In general.—Amounts made available under subparagraph (A) that are not obligated as of the release date described in clause (ii) shall be available to the Secretary to make loans and loan guarantees under section 601 of the Rural Electrification Act of 1936. “(ii) Release date.—For purposes of clause (i), the release date is the date that is the earlier of— (I) the date the Secretary determines that at least 75 percent of the designated market areas (as defined in section 122(j) of title 17, United States Code) not in the top 40 designated market areas described in section 1004(e)(1)(C)(i) of the 116 STAT. 430 Launching Our Communities’ Access to Local Television Act of 2000 (47 U.S.C. 1103(e)(1)(C)(i)) have access to local television broadcast signals for virtually all households (as determined by the Secretary); or (II) December 31, 2006. “(C) Advanced appropriations.—Subsections (c) and (h)(1)(B) of section 1004 and section 1005(n)(3)(B) shall not apply to amounts made available under this paragraph. (b) Technical and Conforming Amendments.— (1) Approval of loan guarantees.—Section 1004 of the Launching Our Communities’ Access to Local Television Act of 2000 (47 U.S.C. 1103) is amended— (A) in subsection (b)(1)— (i)by striking “section 5” and inserting “section 1005”; and (ii)by striking “section 11” and inserting “section 1011”; (B) in subsection (d)(1), by striking “section 3” and inserting “section 1003”; and (C) in the first sentence of subsection (h)(2)(D), by striking “section 5” and inserting “section 1005”. (2) Administration of loan guarantees.—Section 1005 of the Launching Our Communities’ Access to Local Television Act of 2000 (47 U.S.C. 1104) is amended— (A) in subsection (a), by striking “sections 3 and 4” and inserting “sections 1003 and 1004”; (B) in subsection (b)— (i)in paragraph (1)(D), by striking “section 6(a)(2)” and inserting “section 1006(a)(2)”; and (ii)in paragraph (3), by striking “section 4(d)(3)(B)(iii)” and inserting “section 1004(d)(3)(B)(iii)”; and (C) in subsection (e)(3), by striking “section 4(g)” and inserting “section 1004(g)”.