The Secretary of Agriculture (referred to in this chapter as the “Secretary”) is authorized and empowered to make loans, or refinance loans made by the Secretary under this chapter, in the several States and Territories of the United States for rural electrification and for the purpose of furnishing and improving electric and telephone service in rural areas, as provided in this chapter, and for the purpose of assisting electric borrowers to implement demand side management, energy efficiency and conservation programs, and on-grid and off-grid renewable energy systems.

The Secretary may make, or cause to be made, studies, investigations, and reports regarding matters, including financial, technological, and regulatory matters, affecting the condition and progress of electric, telecommunications, and economic development in rural areas, and publish and disseminate information with respect to the matters.

Not later than 180 days after December 20, 2018, the Secretary shall enter into a memorandum of understanding with the Secretary of Energy under which the Secretary of Energy shall provide technical assistance to the Rural Utilities Service on loans to be made under subsection (a) of this section and section 904(a) of this title.

(May 20, 1936, ch. 432, title I, § 2, 49 Stat. 1363; Oct. 28, 1949, ch. 776, §§ 2, 3, 63 Stat. 948; Pub. L. 103–129, § 2(c)(1), Nov. 1, 1993, 107 Stat. 1363; Pub. L. 103–354, title II, § 235(a)(2), (13), Oct. 13, 1994, 108 Stat. 3220, 3221; Pub. L. 104–127, title VII, § 771, Apr. 4, 1996, 110 Stat. 1149; Pub. L. 110–234, title VI, § 6101, May 22, 2008, 122 Stat. 1195; Pub. L. 110–246, § 4(a), title VI, § 6101, June 18, 2008, 122 Stat. 1664, 1956; Pub. L. 115–334, title VI, § 6501, Dec. 20, 2018, 132 Stat. 4771.)