[Federal Register Volume 84, Number 147 (Wednesday, July 31, 2019)]
[Rules and Regulations]
[Page 37059]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15859]



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 Rules and Regulations
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 This section of the FEDERAL REGISTER contains regulatory documents 
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  Federal Register / Vol. 84, No. 147 / Wednesday, July 31, 2019 / 
Rules and Regulations  

[[Page 37059]]



DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Part 1717

RIN 0572-AC40


Streamlining Electric Program Procedures

AGENCY: Rural Utilities Service, USDA.

ACTION: Correcting amendment.

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SUMMARY: The Rural Utilities Service (RUS or Agency) published a final 
rule in the Federal Register on July 9, 2019, entitled ``Streamlining 
Electric Program Procedures,'' to make revisions to several regulations 
to streamline its procedures for Electric Program borrowers, including 
its loan application requirements, approval of work plans and load 
forecasts, use of approved contracts and system design procedures. The 
Agency found an error in this publication, after the published rule 
became effective. This document will correct the final regulation.

DATES: Effective on July 31, 2019.

FOR FURTHER INFORMATION CONTACT: Michele Brooks, Team Lead, Rural 
Development Innovation Center--Regulatory Team, USDA, 1400 Independence 
Avenue SW, Stop 1522, Room 4266, South Building, Washington, DC 20250-
1522. Telephone: (202) 690-1078. Email [email protected].

SUPPLEMENTARY INFORMATION: 

Need for Correction

    On July 9, 2019 (84 FR 32607), the Rural Utilities Services (RUS) 
issued a final rule entitled ``Streamlining Electric Program 
Procedures,'' to revise several regulations to streamline its 
procedures for Electric Program borrowers, including its loan 
application requirements, approval of work plans and load forecasts, 
use of approved contracts and system design procedures.
    Inadvertently, revisions were made to the entire paragraph (c) of 
section 1717.856, which resulted in eliminating paragraphs (c)(1) 
through (4) instead of revising the introductory text only of paragraph 
(c). This document corrects the final regulation to add those portions 
that were removed by mistake.

List of Subject in 7 CFR Part 1717

    Administrative practice and procedure, Electric power, Electric 
power rates, Electric Utilities, Intergovernmental relations, 
Investments, Loan program-energy, Reporting and recordkeeping 
requirements, Rural areas.

PART 1717--POST-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND 
GUARANTEED ELECTRIC LOANS

0
1. The authority citation for part 1717 continues to read as follows:

    Authority:  7 U.S.C. 901 et seq., 1921 et seq., 6941 et seq.

Subpart R--Lien Accommodations and Subordinations for 100 Percent 
Private Financing

0
2. Amend Sec.  1717.856 by adding paragraph (c)(1) through (c)(4), to 
read as follows:


Sec.  1717.856  Application contents: Normal review--100 percent 
private financing.

* * * * *
    (c) * * *
    (1) The borrower is current on all of its financial obligations and 
is in compliance with all requirements of its mortgage and loan 
agreement with RUS;
    (2) In RUS's judgment, granting a lien accommodation or 
subordination for the proposed loan will not adversely affect the 
repayment and security of outstanding debt of the borrower owed to or 
guaranteed by RUS;
    (3) The borrower has achieved the TIER and DSC and any other 
coverage ratios required by its mortgage or loan contract in each of 
the two most recent calendar years; and
    (4) The amount of the proposed loan does not exceed the lesser of 
$10 million or 10 percent of the borrower's current net utility plant;
* * * * *

Chad Rupe,
Administrator, Rural Utilities Service.
[FR Doc. 2019-15859 Filed 7-30-19; 8:45 am]
 BILLING CODE 3410-15-P