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[Federal Register: March 2, 2005 (Volume 70, Number 40)]
[Rules and Regulations]               
[Page 10037]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr05-7]                         

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AIR TRANSPORTATION STABILIZATION BOARD

14 CFR Part 1310

 
Regulations for Air Transportation Stabilization Board Under 
Section 101(a)(1) of the Air Transportation Safety and System 
Stabilization Act

AGENCY: Air Transportation Stabilization Board.

ACTION: Final rule.

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SUMMARY: This supplemental regulation is issued by the Air 
Transportation Stabilization Board under section 102(c)(2)(B) of the 
Air Transportation Safety and System Stabilization Act, which 
authorizes the Air Transportation Stabilization Board (the ``Board'') 
to issue supplemental regulations for the issuance of federal credit 
instruments. The purpose of this supplemental regulation is to allow 
the Board to charge a fee for each amendment to, or waiver of, any term 
or condition of any guaranteed loan document or related instrument 
approved by the Board relating to its air carrier guarantee loan 
program. These regulations are effective upon publication.

EFFECTIVE DATE: March 2, 2005.

FOR FURTHER INFORMATION CONTACT: Mark R. Dayton, Executive Director, 
Air Transportation Stabilization Board, 1120 Vermont Avenue, NW., Suite 
970, Washington, DC 20005, at (202) 622-3550 or by e-mail to 
atsb@do.treas.gov.

SUPPLEMENTARY INFORMATION: On October 12, 2001, the Office of 
Management and Budget (the ``OMB'') published a final rule (66 FR 
52270), as amended on April 9, 2002 (67 FR 17258), under section 
102(c)(2)(B) of the Air Transportation Safety and System Stabilization 
Act (the ``Act''). That section states that ``the Director of the 
Office of Management and Budget shall issue regulations setting forth 
procedures for application and minimum requirements * * * for the 
issuance of Federal credit instruments under Section 101(a)(1)'' of the 
Act. Section 101(a)(1) authorizes the Board, which is established by 
section 102(b)(1) of the Act, to issue certain Federal credit 
instruments to assist air carriers who suffered losses due to the 
terrorist attacks of September 11, 2001, and to whom credit is not 
otherwise reasonably available, in order to facilitate a safe, 
efficient, and viable commercial aviation system in the United States.
    Section 102(c)(2)(B) of the Act authorizes the Board to supplement 
the regulations issued by OMB. On April 9, 2002, the Board published a 
supplemental final rule (67 FR 17258) under Section 102(c)(2)(B) of the 
Act establishing administrative rules and procedures. The Board has 
determined that it is appropriate to issue supplemental rules and 
procedures to facilitate requests for amendments or waivers to terms 
and conditions of guaranteed loan documents or related instruments 
approved by the Board.
    Because this final rule relates to public loan guarantees and does 
not affect the substantive rights or obligations of any person, notice 
and public procedure are not required pursuant to 5 U.S.C. 553(a). For 
the same reasons, a delayed effective date is not required pursuant to 
5 U.S.C. 553(a) and (d). This rule is not a ``significant regulatory 
action'' for purposes of Executive Order 12866, and because no notice 
of proposed rulemaking is required, the provisions of the Regulatory 
Flexibility Act (5 U.S.C. 601 et seq.) do not apply.

List of Subjects in Part 1310

    Air carriers, Disaster assistance, Loan programs-transportation, 
Reporting and recordkeeping requirements.

    Dated: February 22, 2005.
Mark R. Dayton,
Executive Director, Air Transportation Stabilization Board.

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For the reasons set forth in the preamble and under the authority of 49 
U.S.C. 40101 note, the Air Transportation Stabilization Board amends 
subchapter B of 14 CFR Chapter VI as follows:
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1. The heading of Part 1310 is revised to read as follows:

Subchapter B--Air Transportation Stabilization Board

PART 1310--AIR CARRIER GUARANTEE LOAN PROGRAM ADMINISTRATIVE 
REGULATIONS AND AMENDMENT OR WAIVER OF A TERM OR CONDITION OF 
GUARANTEED LOAN

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2. The authority citation for part 1310 continues to read as follows:

    Authority: Title I of Pub. L. 107-42, 115 Stat. 230 (49 U.S.C. 
40101 note).

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3. Section 1310.15 is added to read as follows:

Sec.  1310.15  Amendment or Waiver of a term or condition of a 
guaranteed loan.

    The Board may, in its discretion, charge the borrower a fee, in an 
amount and payable as determined by the Board, for each amendment to, 
or waiver of, any term or condition of any guaranteed loan document or 
related instrument approved by the Board.

[FR Doc. 05-4005 Filed 2-25-05; 12:15 pm]

BILLING CODE 4810-25-P

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