Strategic Economic and Community Development

This interim rule implements Section 6025, Strategic Economic and Community Development, under the Agricultural Act of 2014 (2014 Farm Bill). Unless the Agency provides otherwise, the Agency will reserve up to 10 percent of the funds appropriated to certain Rural Development (RD) programs each fiscal year to fund projects that support the implementation of strategic economic and community development plans across multi-jurisdictional areas. The programs from which funds will be reserved are community facility programs, water and waste disposal programs, and rural business and cooperative development programs. To be eligible for the reserved funds, projects must be first eligible for funding under the programs from which the funds are reserved. In addition, projects must be carried out solely in rural areas. Any reserved funding that is not obligated by June 30 of the fiscal year in which the funds were reserved will be returned to the programs' regular funding accounts.