US Code

Public Law 119-83 (04/13/2026)

7 U.S.C. § 931

Rural Electrification and Telephone Revolving Fund

There is hereby established in the Treasury of the United States a fund, to be known as the Rural Electrification and Telephone Revolving Fund (hereinafter referred to as the “fund”), consisting of:
(1)
1
1 See References in Text note below.
all notes, bonds, obligations, liens, mortgages, and property delivered or assigned to the Secretary pursuant to loans heretofore or hereafter made under sections 904, 905, and 922 of this title and under this subchapter, as of , and all proceeds from the sales hereunder of such notes, bonds, obligations, liens, mortgages, and property, which shall be transferred to and be assets of the funds;
(2)
1 undisbursed balances of electric and telephone loans made under sections 904, 905, and 922 of this title, which as of , shall be transferred to and be assets of the fund;
(3)
all collections of principal and interest received on and after , on notes, bonds, judgments, or other obligations made or held under subchapters I and II of this chapter and under this subchapter, which shall be paid into and be assets of the fund;
(4)
all appropriations for interest subsidies and losses required under this subchapter which may hereafter be made by the Congress and the unobligated balances of any funds made available for loans under the item “Rural Electrification Administration” in the Department of Agriculture and Agriculture-Environmental and Consumer Protection Appropriations Acts; or
(5)
section 934(a) of this title moneys borrowed from the Secretary of the Treasury pursuant to .

May 20, 1936, ch. 432 Pub. L. 92–12, § 285 Stat. 29 Pub. L. 93–32, § 287 Stat. 66 Pub. L. 94–570, § 290 Stat. 2701 Pub. L. 103–354, title II, § 235(a)(13)108 Stat. 3221 Pub. L. 104–127, title VII, § 772(b)(1)110 Stat. 1149 Pub. L. 115–334, title VI, § 6602(b)(7)132 Stat. 4776 (, title III, § 301, as added , , ; amended , , ; , , ; , , ; , , ; , , .)

Editorial Notes

References in Text

Section 905 of this titlePub. L. 104–127, title VII, § 774(a)110 Stat. 1150 , referred to in pars. (1) and (2), was repealed by , , .

Amendments

Pub. L. 115–334, § 6602(b)(7)(A)2018—Par. (3). , struck out “except for net collection proceeds previously appropriated for the purchase of class A stock in the Rural Telephone Bank,” after “under this subchapter,”.

Pub. L. 115–334, § 6602(b)(7)(B)section 946(a) of this titlePar. (6). –(D), struck out par. (6) which read as follows: “shares of the capital stock of the Rural Telephone Bank purchased by the United States pursuant to and moneys received from said bank upon retirement of said shares of stock in accordance with the provisions of subchapter IV of this chapter, which said shares and moneys shall be assets of the fund.”

Pub. L. 104–127section 903(a) of this title1996— struck out “(a)” before “There is hereby” in introductory provisions and struck out “notwithstanding ,” before “all collections” in par. (3).

Pub. L. 103–3541994—Subsec. (a)(1). substituted “Secretary” for “Administrator”.

Pub. L. 94–5701976—Subsec. (a)(4). provided for inclusion in the fund the unobligated balances of any funds made available for loans under item “Rural Electrification Administration” in the Department of Agriculture and Agriculture-Environmental and Consumer Protection Appropriation Acts.

Pub. L. 93–321973— substituted provisions establishing the Rural Electrification and Telephone Revolving Fund and enumerating its constituent parts, for provisions establishing a rural telephone account in the United States Treasury.

Statutory Notes and Related Subsidiaries

Effective Date of 1976 Amendment

Pub. L. 94–570section 4 of Pub. L. 94–570section 935 of this titleAmendment by effective , see , set out as a note under .

Effective Date of 1973 Amendment

Pub. L. 93–32section 12 of Pub. L. 93–32section 930 of this titleAmendment by effective , see , set out as an Effective Date note under .

Effective Date

Pub. L. 92–12, § 785 Stat. 37

“This Act [enacting this section and sections 921a, 932, and 941 to 950b of this title, amending sections 903 and 922 of this title and sections 856 and 868 of former Title 31, and enacting provisions set out as notes under sections 856 and 868 of former Title 31] shall take effect upon enactment [].”
, , , provided that:

Pub. L. 92–12Reservation of Right To Repeal, Alter, or Amend

Pub. L. 92–12, § 685 Stat. 37

“The right to repeal, alter, or amend this Act [enacting this section and sections 921a, 932, and 941 to 950b of this title, amending sections 903 and 922 of this title and sections 856 and 868 of former Title 31, and enacting provisions set out as notes under sections 856 and 868 of former Title 31] is expressly reserved.”
, , , provided that: