LOAN RATES AND REPAYMENT.

SEC. 404. LOAN RATES AND REPAYMENT. (a) Interest.—Each loan made pursuant to this title shall bear interest at the discount or interest rate used at the time the loan is made for water resources planning projects under section 80 of the Water Resources Development Act of 1974 (42 U.S.C. 1962–17(a)). Each such loan shall be for such term, as the Secretary deems appropriate, but not in excess of— (1) 10 years (in the case of a loan under section 402) or (2) 30 years (in the case of a loan under section 403). (b) Repayments.—Amounts repaid on loans made pursuant to this title shall be deposited into the United States Treasury as miscellaneous receipts. [16 U.S.C. 2704]