7 U.S.C. § 2009n — Rural Community Development Initiative

FEDERAL · 7 U.S.C. · Chapter 50

Rural Community Development Initiative

Current through Pub. L. 119-102

Title 7 — Agriculture·Ch. 50 — AGRICULTURAL CREDIT·Subch. V

(a)Definitions In this section:

(1)Eligible entity The term "eligible entity" means—

(A)a private, nonprofit community-based housing or community development organization;

(B)a rural community; or

(C)a federally recognized Indian tribe.

(2)Eligible intermediary The term "eligible intermediary" means a qualified—

(A)private, nonprofit organization; or

(B)public organization.

(b)Establishment The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities to develop the capacity and ability of eligible entities to carry out projects to improve housing, community facil

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(a) Definitions
In this section:
(1) Eligible entity
The term "eligible entity" means—
(A) a private, nonprofit community-based housing or community development organization;
(B) a rural community; or
(C) a federally recognized Indian tribe.
(2) Eligible intermediary
The term "eligible intermediary" means a qualified—
(A) private, nonprofit organization; or
(B) public organization.
(b) Establishment
The Secretary shall establish a Rural Community Development Initiative, under which the Secretary shall provide grants, subject to the availability of appropriations, to eligible intermediaries to carry out programs to provide financial and technical assistance to eligible entities to develop the capacity and ability of eligible entities to carry out projects to improve housing, community facilities, and community and economic development projects in rural areas.
(c) Amount of grants
The amount of a grant provided to an eligible intermediary under this section shall be not more than $500,000.
(d) Matching funds
(1) In general
An eligible intermediary receiving a grant under this section shall provide matching funds from other sources, including Federal funds for related activities, in an amount not less than the amount of the grant.
(2) Waiver
The Secretary may waive paragraph (1) with respect to a project that would be carried out in a persistently poor rural region, as determined by the Secretary.

7 U.S.C. § 2009n (Rural Community Development Initiative) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.

Source Credit

History

(Pub. L. 87–128, title III, §381O, as added Pub. L. 119–101, title V, §502(h), July 11, 2026, 140 Stat. 923.)

Editorial Notes

Editorial Notes

Prior Provisions
A prior section 2009n, Pub. L. 87–128, title III, §381O, as added Pub. L. 104–127, title VII, §761, Apr. 4, 1996, 110 Stat. 1147, related to rural venture capital demonstration program, prior to repeal by Pub. L. 107–171, title VI, §6026(b), May 13, 2002, 116 Stat. 372.