REINSTATEMENT OF RURAL UTILITY SERVICES DIRECT LENDING.

SEC. 6102. REINSTATEMENT OF RURAL UTILITY SERVICES DIRECT LENDING.(a) In General.—Section 4 of the Rural Electrification Act of 1936 (7 U.S.C. 904) is amended—(1) by designating the first, second, and third sentences as subsections (a), (b), and (d), respectively; and(2) by inserting after subsection (b) (as so designated) the following:“(c) Direct Loans.—“(1) Direct hardship loans.—Direct hardship loans under this section shall be for the same purposes and on the same terms and conditions as hardship loans made under section 305(c)(1).“(2) Other direct loans.—All other direct loans under this section shall bear interest at a rate equal to the then current cost of money to the Government of the United States for loans of similar maturity, plus ⅛ of 1 percent.”.(b) Elimination of Federal Financing Bank Guaranteed Loans.—Section 306 of the Rural Electrification Act of 1936 (7 U.S.C. 936) is amended—(1) in the third sentence, by striking “guarantee, accommodation, or subordination” and inserting “accommodation or subordination”; and(2) by striking the fourth sentence.