Support for rural water systems

Section 3.7(f) of the Farm Credit Act of 1971 (12 U.S.C. 2128(f)) is amended— (1) by redesignating paragraphs (1) and (2) as subparagraphs (A) and (B), respectively, and indenting appropriately; (2) in the matter preceding subparagraph (A) (as so redesignated), by striking (f) The banks and inserting the following: (f) Water, waste disposal, and other facilities in rural areas (2) Water and waste disposal facilities The banks; (3) in the undesignated matter following paragraph (2)(B) (as so redesignated), by striking For purposes and inserting the following: (1) Definition of rural area (A) In general Subject to subparagraph (B), for purposes; (4) in paragraph (1) (as so designated), by adding at the end the following: (B) Guarantees In the case of a loan, commitment, or assistance described in paragraph (2) that is guaranteed, the term rural area means an area described in section 343(a)(13)(A) of the Consolidated Farm and Rural Development Act (7 U.S.C. 1991(a)(13)(A)).; (5) by moving paragraphs (1) and (2) (as so designated) so as to appear in numerical order; and (6) by adding at the end the following: (3) Other facilities Notwithstanding paragraph (2), a bank for cooperatives may make and participate in loans and commitments and provide technical and other financial assistance to cooperatives and any other public or private entity (except the Federal Government) for the purpose of installing, maintaining, expanding, improving, or operating facilities in a rural area for— (A) the processing or disposal of waste from any source; or (B) producing electricity from any source for use or sale by the borrower..