EXPANDING ACCESS TO CREDIT FOR RURAL COMMUNITIES.

SEC. 6402. EXPANDING ACCESS TO CREDIT FOR RURAL COMMUNITIES. (a) Certain Programs Under the Consolidated Farm and Rural Development Act.—Section 343(a)(13) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1991(a)(13)) is amended— (1) in subparagraph (B)— (A) in the heading, by striking “and guaranteed”; and (B) in the text— (i) by striking “and guaranteed”; and (ii) by striking “(1), (2), and (24)” and inserting “(1) and (2)”; and (2) in subparagraph (C)— (A) by striking “and guaranteed”; and (B) by striking “(21), and (24)” and inserting “and (21)”. (b) Population Caps for Guaranteed Lending.—Section 306(a)(24) of such Act (7 U.S.C. 1926(a)(24)) is amended by adding at the end the following: “(D) Priority.— “(i) Water or waste facility.—The Secretary shall prioritize water and waste facility projects under this paragraph in rural areas with a population of not more than 10,000 people. “(ii) Community facility.—Of the funds made available to carry out this paragraph for community facility loan guarantees for a fiscal year the following amounts shall be reserved for projects in rural areas with a population of not more than 20,000 inhabitants: “(I) 100 percent of the first $200,000,000 so made available; “(II) 50 percent of the next $200,000,000 so made available; and “(III) 25 percent of all amounts exceeding $400,000,000 so made available, except that, to the extent that the Secretary demonstrates that the funds so reserved are not needed to finance a community facility project in such a rural area, the Secretary may use the funds for other community facility projects in accordance with this paragraph.” .