[Federal Register Volume 59, Number 87 (Friday, May 6, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-10884]


[[Page Unknown]]

[Federal Register: May 6, 1994]


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DEPARTMENT OF AGRICULTURE
Farmers Home Administration
7 CFR Part 1980 
RIN 0575-AB67 
 

Business and Industrial Loan Program 
AGENCY: Farmers Home Administration and Rural Development 
Administration, USDA.

ACTION: Final rule.

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SUMMARY: The Farmers Home Administration (FmHA) and Rural Development 
Administration (RDA) adopt their interim rule published August 3, 1993 
(58 FR 41171), as a final rule without change. This action makes final 
the rule removing the deadline for filing applications for loan 
guarantees under the authority of the Dire Emergency Supplemental 
Appropriations Act, Public Law 102-368. The intended effect is to 
provide no regulatory deadline for filing such applications.

EFFECTIVE DATE: May 6, 1994.

FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Business and 
Industry Loan Specialist, Rural Development Administration, USDA, Ag. 
Box 3221, Washington, DC 20250-3221, Telephone (202) 720-6819.

SUPPLEMENTARY INFORMATION:

Classification

    This rule has been determined to be not-significant for purposes of 
Executive Order 12866 and therefore has not been reviewed by OMB.

Programs Affected

    The Catalog of Federal Domestic Assistance program impacted by this 
action is:

10.768  Business and Industrial Loans.

Intergovernmental Review

    As set forth in the final rule and related Notice to 7 CFR part 
3015, subpart V, 48 FR 29112, June 24, 1983, Business and Industrial 
Loans are subject to the provisions of Executive Order 12372 which 
requires intergovernmental consultation with State and local officials. 
FmHA and RDA conduct intergovernmental consultation in the manner 
delineated in FmHA Instruction 1940-J, ``Intergovernmental Review of 
Farmers Home Administration Programs and Activities.''

Civil Justice Reform

    This document has been reviewed in accordance with Executive Order 
12778. It is the determination of RDA and FmHA that this action does 
not unduly burden the Federal Court System in that it meets all 
applicable standards provided in section 2 of the Executive Order.

Environmental Impact Statement

    The action has been reviewed in accordance with 7 CFR part 1940, 
subpart G, ``Environmental Program.'' FmHA and RDA have determined that 
this action does not constitute a major Federal action significantly 
affecting the quality of the human environment, and, in accordance with 
the National Environmental Policy Act of 1969, Public Law 91-190, an 
Environmental Impact Statement is not required.

Paperwork Reduction Act

    The information collection requirements contained in this 
regulation have been approved by the Office of Management and Budget 
(OMB) under the provisions of 44 U.S.C. chapter 35 and has been 
assigned OMB control number 0575-0029 in accordance with the Paperwork 
Reduction Act of 1980 (44 U.S.C. 3507). Send comments regarding this 
collection of information, including suggestions for reducing this 
burden, to the Office of Management and Budget, Paperwork Reduction 
Project (OMB# 0575-0629), Washington, DC 20503. Please send a copy of 
your comments to Jack Holston, Agency Clearance Officer, USDA, FmHA, Ag 
Box 0743, Washington, DC 20250.

Discussion of the Rule

    Business and Industry Disaster (BID) loans guaranteed under the 
authority of the Dire Emergency Supplemental Appropriations Act cover 
costs arising from the consequences of natural disasters, such as 
Hurricanes Andrew and Iniki and Typhoon Omar, that occur after August 
23, 1992, and receive a Presidential declaration. Since the legislative 
authority to issue guarantees under BID expired on September 30, 1993, 
a deadline of July 31, 1993, to file applications was placed in the 
regulation. This was intended to give RDA staff time to process any 
applications before the guarantee authority expired. Due to additional 
disasters that occurred in 1993, the application deadline is removed to 
allow additional time to apply for assistance.
    This action was published as an interim rule in the Federal 
Register on August 3, 1993 (58 FR 41171), with a comment period ending 
September 2, 1993. No comments were received.

List of Subjects in 7 CFR Part 1980

    Loan programs--Business and Industry--Rural development assistance, 
Rural areas.

    Accordingly, chapter XVIII, title 7, Code of Federal Regulations, 
is amended by adopting the interim rule published August 3, 1993 (58 FR 
41171), as a final rule without change.

    Dated: April 28, 1994.-
Bob J. Nash,
Under Secretary, Small Community and Rural Development.
[FR Doc. 94-10884 Filed 5-5-94; 8:45 am]
BILLING CODE 3410-07-U