12 2 STA T . 1 9 2 6PUBLIC LA W 11 0– 2 4 6 —J U NE 1 8, 2008 ‘ ‘ SEC.310B . A SS I S T A N CE FOR R U RA L ENTITIES. ‘ ‘ (a)LOANST O PRIV AT EBU SINESS E NTER P RISES .— ‘‘( 1 ) D E F INITIONS.— Inthis s ub s ec ti o n
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( 2 ) in subsection (a)— ( A )b ym o v in g the secon d and f ou r th sentences so astoa p pear as the second and first sentences , respective l y; (B) in the sentence beginning ‘‘As used in this sub - section, the’’ (as moved by subparagraph (A)), by stri k ing ‘‘As used in this subsection, the’’ and inserting the fol- lo w ing: ‘‘(A) A Q UA C U L TURE.— T he’’; ( C ) in the sentence beginning ‘‘ F or the purposes of this subsection, the’’, by striking ‘‘For the purposes of this subsection, the’’ and inserting the following: ‘‘(B) S OLAR ENER GY .—The’’; (D) in the sentence beginning ‘‘The Secretary may also’’— (i) by striking ‘‘The Secretary may also’’ and inserting the following: ‘‘(2) LOAN PURPOSES.—The Secretary may’’; (ii) by inserting ‘‘and private investment funds that invest primarily in cooperative organi z ations’’ after ‘‘or nonprofit’’; (iii) by striking ‘‘of (1) improving’’ and inserting ‘‘of— ‘‘(A) improving’’; (iv) by striking ‘‘control, (2) the’’ and inserting ‘‘control; ‘‘(B) the’’; (v) by striking ‘‘areas, ( 3 ) reducing’’ and inserting ‘‘areas; ‘‘(C) reducing’’; (vi) by striking ‘‘areas, and ( 4 ) to’’ and inserting ‘‘areas; and ‘‘(D) to’’; (E) in the sentence beginning ‘‘Such loans,’’, by striking ‘‘Such loans,’’ and inserting the following: ‘‘(3) LOAN GUARANTEES.—Loans described in paragraph (2),’’; and (F) in the last sentence, by striking ‘‘ N o loan’’ and inserting the following: ‘‘(4) M A X I M UM AMOUNT OF PRINCIPAL.—No loan’’; and (3) in subsection (g)— (A) in paragraph (1), by inserting ‘‘, including guaran- tees described in paragraph (3)(A)(ii)’’ before the period at the end; (B) in paragraph (3)(A)— (i) by striking ‘‘(A) IN GENERAL.—The Secretary’’ and inserting the following: ‘‘(A) ELIGI B ILITY.— ‘‘(i) IN GENERAL.—The Secretary’’; and (ii) by adding at the end the following: ‘‘(ii) EQUITY.—The Secretary may guarantee a loan made for the purchase of preferred stock or similar e q uity issued by a cooperative organization or a fund that invests primarily in cooperative organizations, if the guarantee significantly benefits 1 or more entities
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