Annual Guarantee Fee Due Date, 58545-58546 [E6-16399]

Download as PDF 58545 Proposed Rules Federal Register Vol. 71, No. 192 Wednesday, October 4, 2006 This section of the FEDERAL REGISTER contains notices to the public of the proposed issuance of rules and regulations. The purpose of these notices is to give interested persons an opportunity to participate in the rule making prior to the adoption of the final rules. DEPARTMENT OF AGRICULTURE Rural Housing Service 7 CFR Part 3565 RIN 0575–AC62 Annual Guarantee Fee Due Date Rural Housing Service, USDA. Proposed rule. AGENCY: ACTION: The Rural Housing Service, an Agency under USDA Rural Development, is proposing to amend its regulations to change the due date of the annual guarantee fee. The annual fee is a non-refundable amount that the lender must pay each year that the loan guarantee remains in effect. Currently, the Finance Office in St. Louis calculates annual fees manually since the borrower submissions of December 31 year-end financial information are not loaded into their automated systems by January 1, when annual fees are due. The Finance Office has requested that the annual fee due date be changed from January 1 to February 28 to allow their automated systems to be uploaded with December 31 year-end information thus enabling them to automate the annual fee calculation process. DATES: Written or e-mail comments must be received on or before December 4, 2006. ADDRESSES: You may submit comments to this proposed rule by any of the following methods: Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. Mail: Submit written comments via the U.S. Postal Service to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, STOP 0742, 1400 Independence Avenue SW., Washington, DC 20250–0782. Hand Delivery/Courier: Submit written comments via mail courier service requiring a street address to the Branch Chief, Regulations and Paperwork Management Branch, U.S. rmajette on PROD1PC67 with PROPOSALS1 SUMMARY: VerDate Aug<31>2005 14:41 Oct 03, 2006 Jkt 211001 Department of Agriculture, 300 7th Street, SW., 7th Floor, Suite 701, Washington, DC 20024. All written comments will be available for public inspection during regular work hours at the 300 7th Street, SW., address listed above. FOR FURTHER INFORMATION CONTACT: C.B. Alonso, Guaranteed Rural Rental Housing Program, Multi Family Housing Processing Division, Rural Housing Service, U.S. Department of Agriculture, STOP 0781, 1400 Independence Avenue SW., Washington, DC 20250–0781; Telephone: 202–720–1624; Fax: 202– 205–5066; E-mail: cb.alonso@wdc.usda.gov. SUPPLEMENTARY INFORMATION: Classification This has been reviewed under Executive Order 12866. The rule has been determined not to be significant for the purposes of Executive Order 12866 and, therefore, has not been reviewed by the Office of Management and Budget (OMB). Regulatory Flexibility Act The Agency Administrator has determined that this proposed rule will not have a significant economic impact on a substantial number of small entities as defined in the Regulatory Flexibility Act (5 U.S.C. 601 et seq.). New provisions included in this proposed rule will not impact a substantial number of small entities to a greater extent than large entities. Therefore, a regulatory flexibility analysis was not performed. Paperwork Reduction Act There are no new reporting or recordkeeping requirements associated with this proposed rule. Unfunded Mandates Reform Act This proposed rule contains no Federal mandates (under the regulatory provisions of title II of the Unfunded Mandates Reform Act of 1995) for State, local, and tribal governments or the private sector. Thus, this proposed rule is not subject to the requirements of sections 202 and 205 of the Unfunded Mandates Reform Act of 1995. Environmental Impact Statement This document has been reviewed in accordance with 7 CFR part 1940, subpart G, ‘‘Environmental Program.’’ PO 00000 Frm 00001 Fmt 4702 Sfmt 4702 The Agency has determined that this action does not constitute a major Federal action affecting significantly 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. Programs Affected The program affected is listed in the Catalog of Federal Domestic Assistance under Number 10.438—Rural Rental Housing Guaranteed Loans. Intergovernmental Consultation For the reasons contained in the Final Rule related Notice to 7 CFR part 3015, subpart V, this program, 10.438—Rural Rental Housing Guaranteed Loans, is subject to Executive Order 12372 which requires intergovernmental consultation with State and local officials. The Agency has conducted intergovernmental consultation in the manner delineated in RD Instruction 1940–J. Executive Order 13132, Federalism The policies contained in this proposed rule do not have any substantial direct effect on States, the relationship between the National Government and the States, or the distribution of power and responsibilities among the various levels of government. Nor does this proposed rule impose substantial direct compliance costs on State and local Governments. Therefore, consultation with the States is not required. Discussion Rural Development administers the Section 538 Guaranteed Rural Rental Housing Program (GRRHP) under the authority of the Housing Act of 1949. Under the GRRHP, Rural Development guarantees loans for the development of housing and related facilities for low or moderate-income families in rural areas. Rural Development is amending 7 CFR 3565.53(b) to change the due date of the annual guarantee fee. The annual fee is a non-refundable amount that the lender must pay each year that the loan guarantee remains in effect. Currently, the Finance Office in St. Louis calculates annual fees manually since the borrower submissions of December 31 year-end financial information are not loaded into the Finance Office’s automated systems by January 1, when E:\FR\FM\04OCP1.SGM 04OCP1 58546 Federal Register / Vol. 71, No. 192 / Wednesday, October 4, 2006 / Proposed Rules annual fees are due. The Finance Office has requested that the annual fee due date be changed from January 1 to February 28 to allow their automated systems to be uploaded with December 31 year-end information. The revision of 7 CFR 3565.53(b) will facilitate the automation of the annual fee calculation process. List of Subjects in 7 CFR Part 3565 Guaranteed loans, Low and moderate income housing, Surety bonds. For the reasons set forth in the preamble, Title 7, Chapter XXXV of the Code of Federal Regulations is proposed to be amended as follows: PART 3565—GUARANTEED RURAL RENTAL HOUSING PROGRAM 1. The authority citation for part 3565 continues to read as follows: Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480. Subpart B—Guarantee Requirements 2. Section 3565.53(b) is revised to read as follows: § 3565.53 Guarantee fees. * * * * * (b) Annual guarantee fee. An annual guarantee fee of at least 50 basis points (one-half percent) of the outstanding principal amount of the loan will be charged each year or portion of a year that the guarantee is in effect. This fee will be collected on February 28, of each calendar year. * * * * * Dated: September 15, 2006. Russell T. Davis, Administrator, Rural Housing Service. [FR Doc. E6–16399 Filed 10–3–06; 8:45 am] BILLING CODE 3410–XV–P DEPARTMENT OF TRANSPORTATION Office of the Secretary 14 CFR Part 331 [Docket OST–2006–25906] rmajette on PROD1PC67 with PROPOSALS1 RIN 2105–AD61 Procedures for Reimbursement of General Aviation Operators and Service Providers in the Washington, DC Area Office of the Secretary, DOT. Notice of proposed rulemaking. AGENCY: ACTION: SUMMARY: On November 30, 2005, President Bush signed into law the Transportation, Treasury, Housing and VerDate Aug<31>2005 14:41 Oct 03, 2006 Jkt 211001 Urban Development, the Judiciary, the District of Columbia, and Independent Agencies Appropriation Act, 2006 (Pub.L. 109–115, 119 Stat. 2396, hereafter the Act, or the 2006 Appropriation Act). Section 185 of the Act authorized the Department of Transportation to provide reimbursement to fixed-based general aviation operators and providers of general aviation ground support services at five metropolitan Washington, DC area airports, for the direct and incremental financial losses they incurred while the airports were closed due to Federal Government actions taken after the terrorist attacks on September 11, 2001. The airports are: Ronald Reagan Washington National Airport; College Park Airport in College Park, Maryland; Potomac Airfield in Fort Washington, Maryland; Washington Executive/Hyde Field in Clinton, Maryland; and Washington South Capitol Street Heliport in Washington, DC. A total of up to $17,000,000 was appropriated for this purpose. This proposed rule would establish the eligibility requirements and application procedures for those who may qualify for assistance under this statute. DATES: Comments should be received by November 3, 2006. ADDRESSES: Interested persons should send comments to Docket Clerk, Docket OST–2006–25906, Department of Transportation, 400 7th Street, SW., Room PL–401, Washington, DC 20590. We request that, in order to minimize burdens on the dockets staff, commenters send three copies of their comments to the docket. Commenters wishing to have their submissions acknowledged should include a stamped, self-addressed postcard with their comments. The Docket Clerk will date stamp the postcard and return it to the commenter. Comments will be available for inspection at the above address from 10 a.m. to 5 p.m., Monday through Friday. Comments also may be sent electronically to the Dockets Management System (DMS) at the following internet address: https:// dms.dot.gov/. Commenters who wish to file comments electronically should follow the instructions on the DMS Web site. Interested persons can also review comments through this same Web site. FOR FURTHER INFORMATION CONTACT: James R. Dann, U.S. Department of Transportation, Office of General Counsel, 400 7th Street, SW., Room 10102, Washington, DC 20590. Telephone 202–366–9154. Data sources to assist applicants in preparing portions of their applications are PO 00000 Frm 00002 Fmt 4702 Sfmt 4702 available at the Department of Transportation, Office of the Secretary’s Web site at https://ostpxweb.dot.gov/ aviation/, under ‘‘Programs.’’ SUPPLEMENTARY INFORMATION: Following the terrorist attacks on the United States on September 11, 2001, general aviation activity in the Washington, DC metropolitan area was suspended. Five airports were most affected: Ronald Reagan Washington National Airport (DCA); College Park Airport in College Park, Maryland; Potomac Airfield in Fort Washington, Maryland; Washington Executive/Hyde Field in Clinton, Maryland; and Washington South Capitol Street Heliport in Washington, DC. General aviation operations remain limited at DCA and the three Maryland airports, and the South Capitol Street Heliport is now used exclusively by the Washington DC Metropolitan Police. Because of the reduction in general aviation activity at these locations, the fixed-based operators and service providers that supported general aviation were also affected. In addition, some such entities have had to incur additional costs associated with new security regulations in order to keep their businesses functioning. Soon after the terrorist attacks, Congress enacted the Air Transportation Safety and System Stabilization Act, Public Law 107–42 (Sept. 22, 2001) (the Stabilization Act). The Stabilization Act directed that compensation be provided to ‘‘air carriers’’ for the direct losses they incurred as a result of the Government’s orders halting air traffic, and the incremental losses they incurred between September 11 and December 31, 2001, as a direct result of the terrorist attacks. Under this authority, approximately $4.6 billion has been distributed to qualifying carriers, providing them assistance as they sought to avoid bankruptcy and recover financially in the aftermath of September 11. Such carriers were also made eligible for loan guarantees under a different title of the Act. However, as noted, relief was limited in the statute to ‘‘air carriers,’’ a term defined at 49 U.S.C. 40102. Because the fixed-based operators and service providers at issue here did not fall within that definition, they were not eligible for either compensation or loan guarantees under the Stabilization Act. In 2003, the United States House of Representatives Committee on Appropriations requested that the Department of Transportation prepare a report detailing the documented financial losses by holders of real property leases at the five affected E:\FR\FM\04OCP1.SGM 04OCP1

Agencies

[Federal Register Volume 71, Number 192 (Wednesday, October 4, 2006)]
[Proposed Rules]
[Pages 58545-58546]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-16399]


========================================================================
Proposed Rules
                                                Federal Register
________________________________________________________________________

This section of the FEDERAL REGISTER contains notices to the public of 
the proposed issuance of rules and regulations. The purpose of these 
notices is to give interested persons an opportunity to participate in 
the rule making prior to the adoption of the final rules.

========================================================================


Federal Register / Vol. 71, No. 192 / Wednesday, October 4, 2006 / 
Proposed Rules

[[Page 58545]]



DEPARTMENT OF AGRICULTURE

Rural Housing Service

7 CFR Part 3565

RIN 0575-AC62


Annual Guarantee Fee Due Date

AGENCY: Rural Housing Service, USDA.

ACTION: Proposed rule.

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

SUMMARY: The Rural Housing Service, an Agency under USDA Rural 
Development, is proposing to amend its regulations to change the due 
date of the annual guarantee fee. The annual fee is a non-refundable 
amount that the lender must pay each year that the loan guarantee 
remains in effect. Currently, the Finance Office in St. Louis 
calculates annual fees manually since the borrower submissions of 
December 31 year-end financial information are not loaded into their 
automated systems by January 1, when annual fees are due. The Finance 
Office has requested that the annual fee due date be changed from 
January 1 to February 28 to allow their automated systems to be 
uploaded with December 31 year-end information thus enabling them to 
automate the annual fee calculation process.

DATES: Written or e-mail comments must be received on or before 
December 4, 2006.

ADDRESSES: You may submit comments to this proposed rule by any of the 
following methods:
    Federal eRulemaking Portal: https://www.regulations.gov. Follow the 
instructions for submitting comments.
    Mail: Submit written comments via the U.S. Postal Service to the 
Branch Chief, Regulations and Paperwork Management Branch, U.S. 
Department of Agriculture, STOP 0742, 1400 Independence Avenue SW., 
Washington, DC 20250-0782.
    Hand Delivery/Courier: Submit written comments via mail courier 
service requiring a street address to the Branch Chief, Regulations and 
Paperwork Management Branch, U.S. Department of Agriculture, 300 7th 
Street, SW., 7th Floor, Suite 701, Washington, DC 20024.
    All written comments will be available for public inspection during 
regular work hours at the 300 7th Street, SW., address listed above.

FOR FURTHER INFORMATION CONTACT: C.B. Alonso, Guaranteed Rural Rental 
Housing Program, Multi Family Housing Processing Division, Rural 
Housing Service, U.S. Department of Agriculture, STOP 0781, 1400 
Independence Avenue SW., Washington, DC 20250-0781; Telephone: 202-720-
1624; Fax: 202-205-5066; E-mail: cb.alonso@wdc.usda.gov.

SUPPLEMENTARY INFORMATION: 

Classification

    This has been reviewed under Executive Order 12866. The rule has 
been determined not to be significant for the purposes of Executive 
Order 12866 and, therefore, has not been reviewed by the Office of 
Management and Budget (OMB).

Regulatory Flexibility Act

    The Agency Administrator has determined that this proposed rule 
will not have a significant economic impact on a substantial number of 
small entities as defined in the Regulatory Flexibility Act (5 U.S.C. 
601 et seq.). New provisions included in this proposed rule will not 
impact a substantial number of small entities to a greater extent than 
large entities. Therefore, a regulatory flexibility analysis was not 
performed.

Paperwork Reduction Act

    There are no new reporting or recordkeeping requirements associated 
with this proposed rule.

Unfunded Mandates Reform Act

    This proposed rule contains no Federal mandates (under the 
regulatory provisions of title II of the Unfunded Mandates Reform Act 
of 1995) for State, local, and tribal governments or the private 
sector. Thus, this proposed rule is not subject to the requirements of 
sections 202 and 205 of the Unfunded Mandates Reform Act of 1995.

Environmental Impact Statement

    This document has been reviewed in accordance with 7 CFR part 1940, 
subpart G, ``Environmental Program.'' The Agency has determined that 
this action does not constitute a major Federal action affecting 
significantly 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.

Programs Affected

    The program affected is listed in the Catalog of Federal Domestic 
Assistance under Number 10.438--Rural Rental Housing Guaranteed Loans.

Intergovernmental Consultation

    For the reasons contained in the Final Rule related Notice to 7 CFR 
part 3015, subpart V, this program, 10.438--Rural Rental Housing 
Guaranteed Loans, is subject to Executive Order 12372 which requires 
intergovernmental consultation with State and local officials. The 
Agency has conducted intergovernmental consultation in the manner 
delineated in RD Instruction 1940-J.

Executive Order 13132, Federalism

    The policies contained in this proposed rule do not have any 
substantial direct effect on States, the relationship between the 
National Government and the States, or the distribution of power and 
responsibilities among the various levels of government. Nor does this 
proposed rule impose substantial direct compliance costs on State and 
local Governments. Therefore, consultation with the States is not 
required.

Discussion

    Rural Development administers the Section 538 Guaranteed Rural 
Rental Housing Program (GRRHP) under the authority of the Housing Act 
of 1949. Under the GRRHP, Rural Development guarantees loans for the 
development of housing and related facilities for low or moderate-
income families in rural areas.
    Rural Development is amending 7 CFR 3565.53(b) to change the due 
date of the annual guarantee fee. The annual fee is a non-refundable 
amount that the lender must pay each year that the loan guarantee 
remains in effect. Currently, the Finance Office in St. Louis 
calculates annual fees manually since the borrower submissions of 
December 31 year-end financial information are not loaded into the 
Finance Office's automated systems by January 1, when

[[Page 58546]]

annual fees are due. The Finance Office has requested that the annual 
fee due date be changed from January 1 to February 28 to allow their 
automated systems to be uploaded with December 31 year-end information. 
The revision of 7 CFR 3565.53(b) will facilitate the automation of the 
annual fee calculation process.

List of Subjects in 7 CFR Part 3565

    Guaranteed loans, Low and moderate income housing, Surety bonds.

    For the reasons set forth in the preamble, Title 7, Chapter XXXV of 
the Code of Federal Regulations is proposed to be amended as follows:

PART 3565--GUARANTEED RURAL RENTAL HOUSING PROGRAM

    1. The authority citation for part 3565 continues to read as 
follows:

    Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.

Subpart B--Guarantee Requirements

    2. Section 3565.53(b) is revised to read as follows:


Sec.  3565.53  Guarantee fees.

* * * * *
    (b) Annual guarantee fee. An annual guarantee fee of at least 50 
basis points (one-half percent) of the outstanding principal amount of 
the loan will be charged each year or portion of a year that the 
guarantee is in effect. This fee will be collected on February 28, of 
each calendar year.
* * * * *

    Dated: September 15, 2006.
Russell T. Davis,
Administrator, Rural Housing Service.
[FR Doc. E6-16399 Filed 10-3-06; 8:45 am]
BILLING CODE 3410-XV-P
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