Business and Industrial Loan Program

DEPARTMENT OF AGRICULTURE

Farmers Home Administration

7 CFR Part 1980

RIN 0575-AB67

Business and Industrial Loan Program

AGENCY: Farmers Home Administration and Rural Development

Administration, USDA.

ACTION: Final rule.

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SUMMARY: The Farmers Home Administration (FmHA) and Rural Development

Administration (RDA) adopt their interim rule published August 3, 1993

(58 FR 41171), as a final rule without change. This action makes final

the rule removing the deadline for filing applications for loan

guarantees under the authority of the Dire Emergency Supplemental

Appropriations Act, Public Law 102-368. The intended effect is to

provide no regulatory deadline for filing such applications.

EFFECTIVE DATE: May 6, 1994.

FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Business and

Industry Loan Specialist, Rural Development Administration, USDA, Ag.

Box 3221, Washington, DC 20250-3221, Telephone (202) 720-6819.

SUPPLEMENTARY INFORMATION:

Classification

This rule has been determined to be not-significant for purposes of

Executive Order 12866 and therefore has not been reviewed by OMB.

Programs Affected

The Catalog of Federal Domestic Assistance program impacted by this

action is:

10.768 Business and Industrial Loans.

Intergovernmental Review

As set forth in the final rule and related Notice to 7 CFR part

3015, subpart V, 48 FR 29112, June 24, 1983, Business and Industrial

Loans are subject to the provisions of Executive Order 12372 which

requires intergovernmental consultation with State and local officials.

FmHA and RDA conduct intergovernmental consultation in the manner

delineated in FmHA Instruction 1940-J, ``Intergovernmental Review of

Farmers Home Administration Programs and Activities.''

Civil Justice Reform

This document has been reviewed in accordance with Executive Order

12778. It is the determination of RDA and FmHA that this action does

not unduly burden the Federal Court System in that it meets all

applicable standards provided in section 2 of the Executive Order.

Environmental Impact Statement

The action has been reviewed in accordance with 7 CFR part 1940,

subpart G, ``Environmental Program.'' FmHA and RDA have determined that

this action does not constitute a major Federal action significantly

affecting the quality of the human environment, and, in accordance with

the National Environmental Policy Act of 1969, Public Law 91-190, an

Environmental Impact Statement is not required.

Paperwork Reduction Act

The information collection requirements contained in this

regulation have been approved by the Office of Management and Budget

(OMB) under the provisions of 44 U.S.C. chapter 35 and has been

assigned OMB control number 0575-0029 in accordance with the Paperwork

Reduction Act of 1980 (44 U.S.C. 3507). Send comments regarding this

collection of information, including suggestions for reducing this

burden, to the Office of Management and Budget, Paperwork Reduction

Project (OMB# 0575-0629), Washington, DC 20503. Please send a copy of

your comments to Jack Holston, Agency Clearance Officer, USDA, FmHA, Ag

Box 0743, Washington, DC 20250.

Discussion of the Rule

Business and Industry Disaster (BID) loans guaranteed under the

authority of the Dire Emergency Supplemental Appropriations Act cover

costs arising from the consequences of natural disasters, such as

Hurricanes Andrew and Iniki and Typhoon Omar, that occur after August

23, 1992, and receive a Presidential declaration. Since the legislative

authority to issue guarantees under BID expired on September 30, 1993,

a deadline of July 31, 1993, to file applications was placed in the

regulation. This was intended to give RDA staff time to process any

applications before the guarantee authority expired. Due to additional

disasters that occurred in 1993, the application deadline is removed to

allow additional time to apply for assistance.

This action was published as an interim rule in the Federal

Register on August 3, 1993 (58 FR 41171), with a comment period ending

September 2, 1993. No comments were received.

List of Subjects in 7 CFR Part 1980

Loan programs--Business and Industry--Rural development assistance,

Rural areas.

Accordingly, chapter XVIII, title 7, Code of Federal Regulations,

is amended by adopting the interim rule published August 3, 1993 (58 FR

41171), as a final rule without change.

Dated: April 28, 1994.-

Bob J. Nash,

Under Secretary, Small Community and Rural Development.

[FR Doc. 94-10884 Filed 5-5-94; 8:45 am]

BILLING CODE 3410-07-U