[Federal Register Volume 88, Number 239 (Thursday, December 14, 2023)]
[Rules and Regulations]
[Page 86566]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-26751]


-----------------------------------------------------------------------

DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service

7 CFR Part 4279

[Docket No. RBS-20-BUSINESS-0016]
RIN 0570-AB07


Guaranteed Loanmaking and Servicing Regulations

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Final rule; correction and stay of effectiveness.

-----------------------------------------------------------------------

SUMMARY: The Rural Business- Cooperative Service (RB-CS or Agency), a 
Rural Development (RD) agency of the United States Department of 
Agriculture (USDA), is publishing a stay of effective date for the 
final rule published in the Federal Register on November 24, 2023. The 
stay of the effective date for 60-days as provided in this notification 
will bring the final rule into compliance with the Congressional Review 
Act. This notification also corrects the reference to Executive Order 
12866, Regulatory Planning and Review, which the final rule was 
determined to be significant.

DATES: The correction is effective December 14, 2023. Effective 
December 14, 2023, 7 CFR 4279.190(a), (c)(1) through (3) and (5), 
(d)(1) through (3), (h), (k)(1) through (3), (m) introductory text, and 
(m)(4) are stayed until February 12, 2024.

FOR FURTHER INFORMATION CONTACT: Mark Brodziski, Deputy Administrator, 
Rural Business and Cooperative Service, Rural Development, U.S. 
Department of Agriculture, 1400 Independence Avenue SW, Stop 
Washington, DC 20250-3221; email: [email protected]; telephone 
(202) 205-0903.

SUPPLEMENTARY INFORMATION: On November 24, 2023, RBCS issued a final 
rule which published in the Federal Register [88 FR 82225] entitled 
``Guaranteed Loanmaking and Servicing Regulations.'' This final rule 
updates the B&I CARES Act Program Loans, as implemented in 7 CFR part 
4279--Guaranteed Loan Making and 7 CFR part 4287--Servicing and as 
published in the Federal Register on May 22, 2020, as an interim rule. 
The final rule that published on November 24, 2023 incorrectly stated 
that the effective date was November 24, 2023. Since this final rule 
has been reviewed by the Office of Management and Budget and it is 
determined to be ``Significant'' under Section 3(f)(1) of Executive 
Order 12866, the Congressional Review Act (CR) requires a 60-day delay 
from date of publication in the Federal Register. This stay of the 
final rule for 60-days as provided in this notification will bring the 
final rule into compliance with the CRA.
    This rulemaking also corrects the Executive Order 12866, Regulatory 
Planning and Review, which the final rule was determined to be 
significant.

Correction

    In FR Doc. 2023-25908 (88 FR 82225) appearing on pages 82225 and 
82227 in the Federal Register of Friday, November 24, 2023, the 
following correction is made:

Executive Order 12866, Regulatory Planning and Review [Corrected]

    1. On page 82227, in the first column, under Executive Order 12866, 
Regulatory Planning and Review, is corrected to read: This final rule 
has been reviewed by the Office of Management and Budget and is 
determined to be ``Significant'' under Section 3(f)(1) of Executive 
Order 12866. A ``significant regulatory action'' means any regulatory 
action that is likely to result in a rule that may: ``have an annual 
effect on the economy of $200 million or more (adjusted every 3 years 
by the Administrator of OIRA for changes in gross domestic product); or 
will adversely affect in a material way the economy, a sector of the 
economy, productivity, competition, jobs, the environment, public 
health or safety, or State, local, or tribal governments or 
communities.''

Karama Neal,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2023-26751 Filed 12-13-23; 8:45 am]
BILLING CODE 3410-XY-P