[Federal Register Volume 61, Number 43 (Monday, March 4, 1996)]
[Rules and Regulations]
[Pages 8207-8208]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-4953]



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DEPARTMENT OF AGRICULTURE
Commodity Credit Corporation

7 CFR Parts 1487, 1491, 1492 and 1495


Regulatory Reform Initiative

AGENCY: Commodity Credit Corporation (CCC), USDA.

ACTION: Final rule.

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SUMMARY: In response to the President's Regulatory Reform Initiative, 
the Commodity Credit Corporation is issuing this final rule to amend 
its regulations to eliminate the following programs: Noncommercial Risk 
Assurance Program (GSM-101); CCC Intermediate Credit Export Sales 
Program for Breeding Animals (GSM-201); CCC Intermediate Credit Export 
Sales Program for Foreign Market Development Facilities (GSM-301); and 
Disposition of Agricultural Commodities under the CCC Barter Program 
(Barter Program). These programs are inactive or obsolete and have not 
been used in 15 years or more.

EFFECTIVE DATE: April 3, 1996.

FOR FURTHER INFORMATION CONTACT: L.T. McElvain, Director, CCC 
Operations Division, Foreign Agricultural Service, U.S. Department of 
Agriculture, AG Box 1035, Washington D.C., 20250-1035; Fax (202) 720-
2949; Telephone (202) 720-6211. The U.S. Department of Agriculture 
(USDA) prohibits 

[[Page 8208]]
discrimination in its programs on the basis of race, color, national 
origin, sex, religion, age, disability, political beliefs and marital 
or familial status. Persons with disabilities who require alternative 
means for communication of program information (braille, large print, 
audiotape, etc.) should contact the USDA Office of Communications at 
(202) 720-5881 (voice) or (202) 720-7808 (TDD).

SUPPLEMENTARY INFORMATION:

Executive Order 12866

    This final rule is issued in conformance with Executive Order 
12866. It has been determined to be neither significant nor 
economically significant for the purposes of E.O. 12866 and, therefore, 
has not been reviewed by the Office of Management and Budget (OMB).

Regulatory Flexibility Act

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

Executive Order 12372

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

Environmental Evaluation

    It has been determined by an environmental evaluation that this 
action will not have a significant impact on the quality of the human 
environment. Therefore, neither an Environmental Assessment nor an 
Environmental Impact Statement is needed.

Paperwork Reduction Act

    The amendment to 7 CFR parts 1487, 1491, 1492 and 1495 set forth in 
this final rule does not contain information collections that require 
clearance by the OMB under the provisions of 44 U.S.C. 35.

Executive Order 12778

    This final rule has been reviewed under Executive Order 12778, 
Civil Justice Reform. The final rule would not have preemptive effect 
with respect to any state or local laws, regulations, or policies which 
conflict with such provisions or which otherwise impede their full 
implementation. The rule would not have retroactive effect.
    The Department of Agriculture is committed to carrying out its 
statutory and regulatory mandates in a manner that best serves the 
public interest. Therefore, where legal discretion permits, the 
Department actively seeks to promulgate regulations that promote 
economic growth, create jobs, are minimally burdensome, and are easy 
for the public to understand, use or comply with. In short, the 
Department is committed to issuing regulations that maximize net 
benefits to society and minimize costs imposed by those regulations.

Background

    CCC published a proposed rule in the Federal Register on December 
13, 1995, in response to the President's Regulatory Reform Initiative, 
that would amend Title 7 of the Code of Federal Regulations to remove 
the following parts:
     Part 1487--Noncommercial Risk Assurance Program (GSM-101);
     Part 1491--CCC Intermediate Credit Export Sales Program 
for Breeding Animals (GSM-201);
     Part 1492--CCC Intermediate Credit Export Sales Program 
for Foreign Market Development Facilities (GSM-301); and
     Part 1495--Disposition of Agricultural Commodities under 
the CCC Barter Program (Barter Program).

Reasons for Removal

    CCC proposed to remove these parts for the following reasons:
     GSM-101--This risk assurance program, implemented in 1979, 
covered only non-commercial or political risk and became obsolete when 
the CCC Export Credit Guarantee Program (GSM-102) was introduced in 
1980 to cover political and commercial risk. The GSM-101 program was 
last used in 1981.
     GSM-201--This direct credit program has been used only 
once (a transaction for livestock exports to Spain in 1979). The terms 
available under the program--3 to 10 year direct credits--could be made 
available under a modified GSM-5 Program (7 CFR Part 1488) Financing of 
Sales of Agricultural Commodities Program.
     GSM-301--This direct credit program was intended to 
facilitate commodity exports which would be sold to generate funds to 
finance the construction of a market development project. The program 
was used only once (in connection with a bulk grain discharge and 
storage facility developed at Ashdod, Israel). That project began in 
1978 and was completed in the early 1980's. For a number of years, 
funding has not been made available for this program.
     Barter Program--From 1950 through 1973, CCC exchanged CCC- 
owned agricultural commodities for strategic and critical materials for 
the National Defense Stockpile. The program could also be used to 
obtain foreign-produced supplies and services used in Department of 
Defense construction projects and Agency for International Development 
projects. The program was terminated in 1973 when CCC stocks were 
depleted. The National Defense Stockpile is now liquidating many 
strategic materials. Also, CCC has authority, which it has at times 
used, to enter into direct barter arrangements under the CCC Charter 
Act in order to obtain strategic materials for defense stock piles.

Comments

    The deadline for submitting comments on the proposed rule was 
January 12, 1996. CCC did not receive any comments on this proposed 
rule. CCC has determined to make the changes to 7 CFR Part 1487, Part 
1491, Part 1492, and Part 1495 as proposed.

List of Subjects

7 CFR Part 1487

    Agricultural commodities, Exports, Insurance, Reporting and 
recordkeeping requirements.

7 CFR Part 1491 and 1492

    Exports, Livestock, Loan programs--agriculture, Reporting and 
recordkeeping requirements.

7 CFR Part 1495

    Agricultural commodities, Exports, Government procurement, 
Strategic and critical materials.

PARTS 1487, 1491, 1492, 1495--[REMOVED]

    For the reasons set out in the preamble under the authority at 5 
U.S.C. Section 552(a)(1)(E), 7 CFR Chapter XIV is amended by removing 
and reserving parts 1487, 1491, 1492 and 1495.

    Signed at Washington, DC, on February 27, 1996.
Christopher E. Goldthwait,
General Sales Manager and Vice President, Commodity Credit Corporation.
[FR Doc. 96-4953 Filed 3-1-96; 8:45 am]
BILLING CODE 3410-10-P