[Federal Register Volume 63, Number 50 (Monday, March 16, 1998)]
[Rules and Regulations]
[Page 12605]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-6677]


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SMALL BUSINESS ADMINISTRATION

13 CFR Part 115


Surety Bond Guarantees; Pilot Preferred Surety Bond Guarantee 
Program

AGENCY: Small Business Administration.

ACTION: Final rule.

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SUMMARY: This rule revises 13 CFR part 115 to conform it to Section 503 
of the Small Business Reauthorization Act of 1997 which was approved on 
December 2, 1997. This Act extends the period of the Pilot Preferred 
Surety Bond (PSB) Guarantee Program to September 30, 2000. Since this 
rule only implements the cited statute, it is published in final form 
without opportunity to comment.

DATES: Effective March 16, 1998.

FOR FURTHER INFORMATION CONTACT: Robert J. Moffitt, Associate 
Administrator, Office of Surety Guarantees, (202) 205-6540.

SUPPLEMENTARY INFORMATION: Since this rule only extends the period of 
the Pilot PSB Program from September 30, 1997, to September 30, 2000, 
and makes no substantial change to the current regulation, SBA is not 
required to determine if this change constitutes a major rule for 
purposes of Executive Order 12291, to determine if it has a significant 
economic impact on a substantial number of small entities pursuant to 
the Regulatory Flexibility Act (5 U. S. C. 601 et seq), or to do a 
Federalism Assessment pursuant to Executive Order 12612. SBA certifies 
that these changes will not impose an annual record keeping or 
reporting requirement on 10 or more persons under the Paperwork 
Reduction Act (44 U. S. C. ch. 35). Finally, for purposes of E. O. 
12778, SBA certifies that this rule, is drafted, to the extent 
practicable, in accordance with standards set forth in Section 2 of 
that order.
    SBA is publishing this regulation as a final rule without 
opportunity for public comment pursuant to 5 U. S. C. 553 (b) (A).

List of Subjects in 13 CFR Part 115

    Claims, Small businesses, Surety bond.

    For the reasons set forth above, part 115 of Title 13, Code of 
Federal Regulations (CFR) is amended as follows.

PART 115--SURETY BOND GUARANTEES

    1. The Authority citation for Part 115 is revised to read as 
follows:

    Authority: 5 U. S. C. app 3; 15 U.S.C. 687b, 687c, 694a, 694b; 
Pub. L 105-135.

    2. Amend Sec. 115.61 by removing the date ``1997'' both times it 
appears, and replacing it with the date ``2000''.

    Dated: February 27, 1998.
Aida Alvarez,
Administrator.
[FR Doc. 98-6677 Filed 3-13-98; 8:45 am]
BILLING CODE 8025-01-P