§ 950bb.
(i)
Payment assistance for certain loan and grant recipients
(2)
Payment assistance
When providing a grant under this subchapter, the Secretary, at the sole discretion of the Secretary, may make—
(A)
a subsidized loan, which shall bear a reduced interest rate at such a rate as the Secretary determines appropriate to meet the objectives of the program; or
(B)
a payment assistance loan, which shall—
(i)
require no interest and principal payments while the borrower is—
(I)
in material compliance with the loan agreement; and
(II)
meeting the milestones and objectives of the project agreed to under paragraph (3); and
(ii)
require such nominal periodic payments as the Secretary determines to be appropriate.
(3)
Agreement on milestones and objectives
(4)
Amendment of milestones and objectives
(5)
Considerations
When deciding to utilize the payment assistance authority under paragraph (2) the Secretary shall consider whether or not the payment assistance will—
(A)
improve the compliance of the grantee with any commitments made through the grant agreement;
(B)
promote the completion of the broadband project;
(C)
protect taxpayer resources; and
(D)
support the integrity of the broadband programs administered by the Secretary.
(6)
Limitations on payment assistance
([May 20, 1936, ch. 432], title VI, § 601, as added [Pub. L. 107–171, title VI, § 6103(a)], May 13, 2002, [116 Stat. 415]; amended [Pub. L. 108–199, div. A, title VII, § 772], Jan. 23, 2004, [118 Stat. 40]; [Pub. L. 110–234, title VI, § 6110(a)], May 22, 2008, [122 Stat. 1199]; [Pub. L. 110–246, § 4(a)], title VI, § 6110(a), June 18, 2008, [122 Stat. 1664], 1960; [Pub. L. 113–79, title VI, § 6104(a)], Feb. 7, 2014, [128 Stat. 851]; [Pub. L. 115–334, title VI], §§ 6201, 6301(b), Dec. 20, 2018, [132 Stat. 4729], 4748.)