[Federal Register Volume 60, Number 213 (Friday, November 3, 1995)]
[Proposed Rules]
[Pages 55807-55808]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 95-27283]



 ========================================================================
 Proposed Rules
                                                 Federal Register
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 
 This section of the FEDERAL REGISTER contains notices to the public of 
 the proposed issuance of rules and regulations. The purpose of these 
 notices is to give interested persons an opportunity to participate in 
 the rule making prior to the adoption of the final rules.
 
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 

  Federal Register / Vol. 60, No. 213 / Friday, November 3, 1995 / 
Proposed Rules  

[[Page 55807]]


DEPARTMENT OF AGRICULTURE

Commodity Credit Corporation

7 CFR Part 1421

RIN 0560-AE28


Extension of Maturing 1994 and Subsequent Crop Year Wheat and 
Feed Grain Price Support Loans

AGENCY: Commodity Credit Corporation, USDA.

ACTION: Proposed rule.

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SUMMARY: This proposed rule would amend the regulations with respect to 
the price support loan programs for wheat and feed grains, which are 
administered by the Commodity Credit Corporation (CCC) in accordance 
with the Agricultural Act of 1949, as amended (the 1949 Act), and other 
acts. Implementation of the changes made by this proposed rule will 
provide CCC authority to allow producers to extend maturing wheat, 
corn, grain sorghum, barley, oat, and rye loans during times of 
abnormal marketing conditions.

DATES: Comments must be received on or before December 4, 1995, in 
order to be assured of consideration.

ADDRESSES: Comments must be mailed to Grady Bilberry, Consolidated Farm 
Service Agency (CFSA), United States Department of Agriculture, room 
3628, South Building, P.O. Box 2415, Washington, DC 20013-2415. All 
written submissions will be made available for public inspection from 
7:30 a.m. to 5:00 p.m., Monday through Friday, in room 3628, South 
Building, 14th and Independence Avenue SW., Washington, DC.

FOR FURTHER INFORMATION CONTACT: Margaret Wright, CFSA, USDA, room 
3627, South Building, P.O. Box 2415, Washington, DC 20013-2415, 
telephone 202-720-8481.

SUPPLEMENTARY INFORMATION:

Executive Order 12866

    This proposed rule has been determined to be significant and was 
reviewed by OMB under Executive Order 12866.

Federal Assistance Program

    The title and number of the Federal Assistance Program, as found in 
the Catalog of Federal Domestic Assistance, to which this rule applies 
are Commodity Loans and Purchases--10.051.

Regulatory Flexibility Act

    It has been determined that the Regulatory Flexibility Act is not 
applicable because the CCC is not required by 5 U.S.C. 553 or any other 
provision of law to publish a notice of proposed rulemaking with 
respect to the subject matter of these determinations.

Environmental Evaluation

    It has been determined by an environmental evaluation that this 
action will have no significant impact on the quality of human 
environment.

Executive Order 12372

    This program is not subject to the provisions of Executive Order 
12372, which requires intergovernmental consultation with State and 
local officials. See the Notice related to 7 CFR part 3015, subpart V, 
published at 48 FR 29115 (June 24, 1983).

Executive Order 12778

    This rule has been reviewed pursuant to Executive Order 12778. To 
the extent State and local laws are in conflict with these regulatory 
provisions, it is the intent of CCC that the terms of the regulations 
prevail. The provisions of this rule are not retroactive. Prior to any 
judicial action in a court of competent jurisdiction, administrative 
review under 7 CFR part 780 must be exhausted.

Paperwork Reduction Act

    The amendments to 7 CFR part 1421 set forth in this proposed rule 
do not contain additional information collections that require 
clearance by the Office of Management and Budget under the provisions 
of 44 U.S.C. chapter 35. Existing information collections were approved 
by OMB and assigned OMB Control Numbers 0560-0087 and 0560-0129.

Comments

    Comments are requested with respect to this proposed rule and such 
comments shall be considered in developing the final rule.

Discussion

    Producers with regular 9-month nonrecourse wheat and feed grain 
price support loans currently are authorized extension of the loan 
maturity date to such date as CCC determines necessary to participate 
in the farmer-owned reserve (FOR) program conducted in accordance with 
Secs. 1421.200 through 1421.217.
    CCC allows producers with outstanding wheat and feed grain CCC 
price support loans that mature during times of natural disasters to 
request an extension of the original maturity date of such loans until 
marketing and movement of commodities return to normal levels.
    Although extensions are available to producers to allow 
participation in the FOR program or during times of natural disasters, 
producer's options are limited at maturity when these conditions do not 
exist. Giving CCC the authority to extend loans during times of 
abnormal marketing conditions to a date that will allow affected 
producers to market such commodities in a normal manner may prevent a 
significant number of loan forfeitures, strengthen markets, and 
increase economic opportunities for affected producers.
    This proposed rule would amend 7 CFR part 1421 to provide CCC 
authority to allow producers to extend maturing wheat, corn, grain 
sorghum, barley, oat, and rye loans when CCC has determined abnormal 
marketing conditions are present.

List of Subjects in 7 CFR Part 1421

    Grains, Loan programs/agriculture, Oilseeds, Peanuts, Price support 
programs, Reporting and recordkeeping requirements, Soybeans, Surety 
bonds, Warehouses.
    Accordingly, 7 CFR part 1421 is proposed to be amended as follows:

PART 1421--GRAINS AND SIMILARLY HANDLED COMMODITIES

    1. The authority citation for 7 CFR part 1421 continues to read as 
follows:

    Authority: 7 U.S.C. 1421, 1423, 1425, 1441z, 1444f-1, 1445b-3a, 
1445c-3, 1445e, and 1446f; 15 U.S.C. 714b and 714c. Subpart--Rice 
Marketing Certificate Program is also issued under authority of 7 
U.S.C. 1441-2; 15 U.S.C. 714b and 714c.


[[Page 55808]]

    2. Section 1421.6 is amended by revising paragraph (e) to read as 
follows:


Sec. 1421.6  Maturity and expiration dates.

* * * * *
    (e) Notwithstanding any other provision of this section, CCC may 
allow producers with wheat, corn, grain sorghum, barley, oat, and rye 
loans maturing during times of abnormal marketing conditions, as 
determined by CCC, to extend such loans beyond the maturity date 
specified in paragraph (a) of this section. If CCC determines that the 
commodity pledged as collateral for such loans cannot be marketed 
because of such abnormal marketing conditions, CCC may authorize such 
loans to be extended to a date that will allow affected producers to 
market such commodity in a normal manner.

    Signed in Washington, DC, on October 26, 1995.
Bruce R. Weber,
Acting Executive Vice President, Commodity Credit Corporation.
[FR Doc. 95-27283 Filed 11-2-95; 8:45 am]
BILLING CODE 3410-05-P