Within 12 months after the date of the enactment of this Act, the Administrator of the Rural Utilities Service (in this section referred to as the “RUS”) shall submit to the Committee on Agriculture of the House of Representatives and the Committee on Agriculture, Nutrition, and Forestry of the Senate a written report on the effectiveness of RUS loan and loan guarantee programs for the purpose of expanding broadband to rural areas (as defined in RUS regulations), which shall—
(1)
identify administrative and legislative options for incentivizing private investment by utilizing RUS loan guarantee programs for the purpose of expanding broadband to rural areas;
(2)
evaluate the existing borrower and lending guidelines for RUS loan and loan guarantee applicants to incentivize participation in both programs; and
(3)
evaluate the loan and loan guarantee application processes for lenders and borrowers by eliminating burdensome and unnecessary steps in the application process and providing a more streamlined process to decrease the complexity of the application and the timeline from application to approval or denial.