Surety Bond Guarantees; Pilot Preferred Surety Bond Guarantee Program

SMALL BUSINESS ADMINISTRATION

13 CFR Part 115

Surety Bond Guarantees; Pilot Preferred Surety Bond Guarantee

Program

AGENCY: Small Business Administration.

ACTION: Final rule.

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

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