Prioritizing the Queue for Hardship Rate and Municipal Rate Loans to Electric Borrowers

DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Parts 1710 and 1714

Prioritizing the Queue for Hardship Rate and Municipal Rate Loans

to Electric Borrowers

AGENCY: Rural Utilities Service, Agriculture.

ACTION: Extension of public comment period.

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SUMMARY: On April 8, 1998, the Rural Utilities Service (RUS) published

in the Federal Register an Advanced Notice of Proposed Rulemaking for

Prioritizing the Queue for Hardship Rate and Municipal Rate Loans to

Electric Borrowers. RUS wishes to extend the comment period for this

proposed rule.

The RUS makes hardship rate and municipal rate loans to electric

borrowers who meet certain statutory requirements. All applicants from

borrowers for these loans are usually considered for approval on a

first-come first-served basis. RUS now has a significant shortfall

between the total dollar amount of qualified applicants and loan

authority for both hardship rate and municipal rate loans. This

shortfall has resulted in long waits in the queues for loan approval.

RUS is considering making changes to its administrative procedures to

prioritize the applications for hardship rate and municipal rate loans,

separately, in order to offer these loans to borrowers in greater need

of assistance before offering them to other borrowers in the loan

queues.

DATES: The date by which written comments must arrive at the address

given below is extended from May 8, 1998, to June 8, 1998.

ADDRESSES: Submit written comments to F. Lamont Heppe, Jr., Director,

Program Development and Regulatory Analysis, U.S. Department of

Agriculture, Rural Utilities Service, Stop 1522, 1400 Independence

Avenue, SW, Washington, D.C. 20250-1522. RUS requires, in hard copy, a

signed original and 3 copies of all comments (7 CFR 1700.4(e)).

Comments will be available for public inspection during regular

business hours (7 CFR 1.27(b)).

FOR FURTHER INFORMATION CONTACT: Alex M. Cockey, Jr., Deputy Assistant

Administrator-Electric Program, U.S. Department of Agriculture, Rural

Utilities Service, Stop 1560, 1400 Independence Avenue, SW.,

Washington, D.C. 20250-1560. Telephone: 202-720-9545. FAX: 202-690-

0717.

Blaine C. Stockton,

Acting Administrator, Rural Utilities Service.

[FR Doc. 98-11995 Filed 5-5-98; 8:45 am]

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