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S 1115 101th Congress Senate Agriculture and Food Agricultural credit Agricultural economics Fees Government lending Interest rates Rural electrification

A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other…

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A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other purposes.

Introduced: June 1, 1989 See on congress.gov
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This bill died when the 101st Congress ended
It never became law before the 101st Congress (1989–1990) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 3 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Aug 28, 1989
Referred to Subcommittee on Rural Development, Electrification.
Jun 1, 1989
Read twice and referred to the Committee on Agriculture.
Jun 1, 1989
Introduced in Senate
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 Plain-English summary Congressional Research Service

Amends the Rural Electrification Act of 1936 to permit Rural Electrification Administration borrowers to prepay Federal Financing Bank loans without penalties if: (1) private capital is used to replace or prepay such loans; and (2) any savings will be used to mitigate future rate increases, passed on to customers, or used to improve the borrower's financial strength.

Permits such borrowers to refinance outstanding long-term Federal Financing Bank loans for a specified fee. Requires the borrower to obtain a change in the interest rate on such loan from its present level to the rate then in effect for new Federal Financing Bank loans.

What's happening now August 28, 1989

Referred to Subcommittee on Rural Development, Electrification.

 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 2
 Cosponsors 1
All 1 Republican 1
R
Grassley, Chuck
Iowa · Jun 1, 1989
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1115: A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other purposes.. 101st Congress. Open America. https://openamerica.io/bill/101-S-1115/
MLA
"S. 1115: A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other purposes.." 101st Congress, 2026, Open America, https://openamerica.io/bill/101-S-1115/.
Bluebook (legal)
S. 1115, 101st Cong. (2026), https://openamerica.io/bill/101-S-1115/.
Markdown link
[S. 1115: A bill to amend the Rural Electrification Act of 1936 to permit the prepayment and refinancing of Federal Financing Bank loans made to rural electrification and telephone systems, and for other purposes.](https://openamerica.io/bill/101-S-1115/)
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