A bill to amend the Rural Electrification Act of 1936 to provide for the financing of telecommunications facilities for broadband services in small towns and rural areas, and for other purposes.

[AI summary unavailable — showing source text] Amends the Rural Electrification Act of 1936 to authorize the Administrator of the Rural Electrification Administration to make loans to finance the improvement, expansion, construction, acquisition, and operation of lines, facilities, or systems to provide (separately or in conjunction with telephone service) present or future broadband telecommunications service in any rural area. Directs the Administrator to determine that there is no reasonable probability that the proposed service will be made available in any rural area by any other person before making a loan for service for such area to any applicant. Directs the Administrator, in consultation with the National Telecommunications and Information Administration of the Department of Commerce, and after holding public hearings, to prescribe specific standards to be followed in determining: (1) which of any competing applicants should receive assistance; and (2) the need and demand in the area concerned for proposed services and facilities. Directs the Administrator to publish notice of such application in the area concerned which: (1) specifies types of facilities, services, and approximate dates; (2) invites interested person…