Rural Development Guaranteed Loans

[Federal Register Volume 74, Number 43 (Friday, March 6, 2009)]

[Rules and Regulations]

[Page 9759]

From the Federal Register Online via the Government Publishing Office [www.gpo.gov]

[FR Doc No: E9-4839]

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Federal Register

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Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Rules

and Regulations

[[Page 9759]]

DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Part 1779

Rural Housing Service

7 CFR Part 3575

Rural Business--Cooperative Service

Rural Utilities Service

7 CFR Parts 4279 and 4280

Rural Business--Cooperative Service

Rural Housing Service

Rural Utilities Service

7 CFR Part 5001

[FR Doc. E9-3092]

RIN 0570-AA65

Rural Development Guaranteed Loans

AGENCIES: Rural Business--Cooperative Service, Rural Housing Service,

Rural Utilities Service, USDA.

ACTION: Interim rule; delay of the effective date.

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SUMMARY: Rural Development is further delaying the effective date of

the interim rule for Rural Development Guaranteed Loans, which was

published on December 17, 2008, to June 1, 2009. The interim rule

establishes a unified guaranteed loan platform for the enhanced

delivery of four existing Rural Development guaranteed loan programs--

Community Facility; Water and Waste Disposal; Business and Industry;

and Rural Energy for America Program, formerly known as Renewable

Energy Systems and Energy Efficiency Improvement Projects.

DATES: The effective date of the interim rule, which was published on

December 17, 2008 [73 FR 76698], delayed until February 17, 2008 [74 FR

2823], delayed until March 9, 2009 [74 FR 7179], is further delayed

until June 1, 2009.

FOR FURTHER INFORMATION CONTACT: Mr. Michael Foore, Rural Development,

Business and Cooperative Programs, U.S. Department of Agriculture, 1400

Independence Avenue, SW., Stop 3201, Washington, DC 20250-3201; e-mail:

[email protected]; telephone (202) 690-4730.

SUPPLEMENTARY INFORMATION: On January 16, 2009, Rural Development

delayed the original effective date of the interim rule from January

16, 2009, to February 17, 2009, because there was insufficient time to

correct a technical error in the interim rule before the interim rule

became effective on January 16, 2009.

Subsequently, Rural Development again delayed the effective date of

the interim rule from February 17, 2009, to March 9, 2009 [74 FR 7179,

February 13, 2009] allowing for public comments to extend the effective

date to June 1, 2009. As stated in the Federal Register, Rural

Development identified several administrative actions, including

providing the best guidance to its field staff on the interim rule, it

believed were necessary to occur prior to the February 17, 2009,

effective date in order to ensure the successful implementation of the

interim rule. Consequently, Rural Development determined that it was

necessary to extend the effective date to June 1, 2009, in order to

provide Rural Development the necessary time to implement these

administrative actions.

As noted in the February 13, 2009, Federal Register, Rural

Development made this change to the effective date, as is provided for

under the Administrative Procedures Act (5 U.S.C. 553(b)(3)(B)),

because:

1. Implementing the interim rule on February 17, 2009, would have

created substantial legal and operation risks to the affected programs

because the rule contains certain flaws that must be corrected and

would not have provided the Agency sufficient time to properly train

field staff and make changes to IT systems critical to the

implementation of these programs. These actions could not have been

completed by February 17, 2009.

2. The two week extension would allow the public a reasonable

opportunity to comment on this proposed extension of the effective date

to June 1, 2009, and the Agency to consider such comments before making

the decision to make such extension.

3. Extending the effective date to June 1, 2009, allows the Agency

to finish the 60-day review described in the January 20, 2009, memo

from the Assistant to the President and Chief of Staff, entitled

``Regulatory Review.''

The public comment period on the Agency's proposed June 1, 2009,

effective date closed on February 20, 2009. The Agency received three

comment letters on the proposed extension of the effective date. None

of the commenters suggested that the interim rule become effective

prior to June 1, 2009. Two of the three commenters also submitted

comments during the public comment period on the interim rule. Because

the comments submitted by these commenters, address issues that are

very similar to those included in comments submitted during the public

comment period for the interim rule, the Agency will consider these

issues when it considers the comments on the interim rule. Therefore,

the effective of the interim rule is extended to June 1, 2009.

Dated: March 3, 2009.

William F. Hagy III,

Acting Deputy Under Secretary, Rural Development.

[FR Doc. E9-4839 Filed 3-5-09; 8:45 am]

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