Farm Bill to advance electric co-op initiatives
Oklahoma Association of
After an overwhleming approval from both the U.S. Senate (87-13) and the U.S. House of Representatives (369-47), the 2018 Farm Bill was signed by President Donald Trump before the year closed.
The Farm Bill contains several provisions that stand to benefit electric cooperatives and their consumer-members, both in Oklahoma and nationwide. Among several “wins” for co-ops, lawmakers preserved the Rural Economic Development Loan and Grant Program (REDLG), which allows electric co-ops to provide financing for projects that foster economic development within their communities. The Bill also maintains funding for the Rural Energy for America Program, which offers loans and grants for renewable energy projects. Additionally, the Bill extends the Rural Energy Savings Program (RESP), an initiative that was mostly designed by electric co-ops in the 2014 Farm Bill; RESP offers financing for home energy retrofit programs.
In an effort to provide resources that enable electric cooperatives to lessen the digital divide, the 2018 Farm Bill includes provisions that facilitate broadband access in rural areas. The Bill authorizes $350 million a year in a combination of loans and grants for broadband projects in rural communities. Low density areas will be eligible for a greater proportion of the federal grant money, with projects in areas of fewer than seven people per square mile being eligible for up to 75 percent of the total project. These funding resources oblige loan and grant applicants to commit to build broadband service at a rate that will meet the area’s future needs, empowering rural communities and helping to close the gap between those who have reliable access to internet and those who do not.
Lastly, the 2018 Farm Bill includes changes for Rural Utilities Services’ (RUS) borrowers, such as electric cooperatives. One specific program known as the “Cushion of Credit” has provided escrow-like accounts for RUS borrowers to deposit excess funds and earn a steady return. This program is gradually being phased out while offering electric cooperatives options on how to pay for RUS loans and other debt.
Overall, electric cooperatives here at home and throughout the nation are celebrating Farm Bill wins that enable co-ops to better serve their membership. From opportunities to invest in community development to increasing access to broadband service and continue investing in renewable forms of energy sources, electric cooperatives are pleased with the end result the Farm Bill brings. May the New Year bring joy and prosperity to you and your local communities!
A new year brings new goals
Oklahoma Association of
A new year brings a new beginning. A lot of resolutions will be made; some will be kept; some will be broken. Whatever our role in this life, we need to strive to do the best we can in all areas. We need to improve on the things that we come up short on, which leads to a resolve to treat our family, friends, co-workers and others in a better and more thoughtful way in the coming year. There is a lot of truth in the statement, “who you are is God’s gift to you, who you become is your gift to God.”
Electric co-ops serve their membership by providing dependable service at the lowest possible rates. Our members put a lot of trust in the board members who serve in each co-op. As a co-op board member myself, I understand that we as directors have the responsibility to be honest and serve our membership to the best of our ability for the overall good of our co-op membership.
So, at the beginning of a new year, let us all resolve to do a better job of whatever our vocation in life is and to treat others as we want to be treated. Psalm 19:14 is a good creed to start with and build upon: “Let the words of my mouth and the meditation of my heart be acceptable in your sight, O Lord, my strength and my Redeemer.”
We have a lot to be thankful for: God, country, family, friends and the freedom that we take for granted. May God bless our country and each of you in this new year of 2019 and may all your resolutions come true.