Business and Industry Guaranteed Loan Program; Technical Correction, 12704-12705 [E7-4920]

Download as PDF 12704 Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Rules and Regulations members on the Council shall be as follows: (a) Region 1: Colorado, Florida, Illinois, Oklahoma, Oregon, Tennessee, Texas, Utah, Washington, and Wyoming—3 Members. (b) Region 2: Pennsylvania—3 Members. (c) Region 3: California—2 Members. (d) Region 4: All other States, the District of Columbia, and the Commonwealth of Puerto Rico—0 Members. (e) Region 5: Importers—1 member. Dated: March 13, 2007. Lloyd C. Day, Administrator, Agricultural Marketing Service. [FR Doc. 07–1315 Filed 3–14–07; 11:37 am] BILLING CODE 3410–02–P Rural Business–Cooperative Service 7 CFR Part 4279 RIN 0570–AA26 Business and Industry Guaranteed Loan Program; Technical Correction AGENCY: Rural Business—Cooperative Service, USDA. ACTION: Final rule. cprice-sewell on PROD1PC66 with RULES SUMMARY: The Rural BusinessCooperative Service (RBS) is revising its program regulations to correct an inadvertent omission in a sentence concerning eligibility of debt refinancing. The words ‘‘existing lender debt’’ will be added to a sentence that currently limits refinancing to less than 50 percent of the overall loan. The intended effect is to limit existing lender debt refinancing to less than 50 percent of the overall loan. DATES: Effective Date: March 19, 2007. FOR FURTHER INFORMATION CONTACT: Brenda Griffin, Loan Specialist, Business and Industry Division, Rural Business-Cooperative Service, U.S. Department of Agriculture, STOP 3224, 1400 Independence Avenue, SW., Washington, DC 20250–3224. Telephone: (202) 720–6802; TDD number is (800) 877–8339 or (202) 708– 9300; Fax number: (202) 720–6003; email: brenda.griffin@usda.gov. SUPPLEMENTARY INFORMATION: Classification This rule has been determined to be not significant for the purposes of Executive Order 12866 and, therefore, has not been reviewed by the Office of Management and Budget (OMB). 15:36 Mar 16, 2007 Jkt 211001 accordance with 7 CFR part 11 must be exhausted before bringing litigation challenging action taken under this rule unless these regulations specifically allow bringing suit at an earlier time. Intergovernmental Review Business and Industry Guaranteed Loans are subject to the provisions of Executive Order 12372, which require intergovernmental consultation with state and local officials. RBS will conduct intergovernmental consultation in the manner delineated in RD Instruction 1940–J, ‘‘Intergovernmental Review of Rural Development Programs and Activities,’’ available in any Rural Development office and on the Internet at https://rurdev.usda.gov.regs/ and in 7 CFR part 3015, subpart V. Environmental Impact Statement This document has been reviewed in accordance with 7 CFR part 1940, subpart G, ‘‘Environmental Program.’’ RBS has determined that this action does not constitute a major Federal action significantly affecting the quality of the human environment, and in accordance with the National Environmental Policy Act of 1969, 42 U.S.C. 4321 et seq., an Environmental Impact Statement is not required. Paperwork Reduction Act The information collection requirements contained in this regulation have been previously approved by OMB under the provisions of 44 U.S.C. chapter 35 and have been assigned OMB control number 0570– 0017, in accordance with the Paperwork Reduction Act (PRA) of 1995. There is no new paperwork burden associated with this correction. DEPARTMENT OF AGRICULTURE VerDate Aug<31>2005 Programs Affected The Catalog of Federal Domestic Assistance number for the program impacted by this action is 10.768, Business and Industry Loans. E-Government Act Compliance RBS is committed to complying with the E-Government Act, to promote the use of the Internet and other information technologies to provide increased opportunities for citizen access to Government information and services, and for other purposes. For information pertinent to E–GOV compliance related to this proposed rule, please contact Brenda Griffin at (202) 720–6802. Regulatory Flexibility Act In compliance with the Regulatory Flexibility Act (5 U.S.C. 601–612), the undersigned has determined and certified by signature of this document that this rule will not have a significant economic impact on a substantial number of small entities. Since this rule is a technical correction and has no significant economic impact on a substantial number of small entities, a regulatory flexibility analysis was not performed. Civil Justice Reform This rule has been reviewed under Executive Order 12988, Civil Justice Reform. In accordance with this Executive Order: (1) All State and local laws and regulations that are in conflict with this rule will be preempted, (2) no retroactive effect will be given this rule, and (3) administrative proceedings in PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 Unfunded Mandates Reform Act Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public Law 104–4, establishes requirements for Federal agencies to assess the effects of their regulatory actions on State, local, and tribal governments and the private sector. Under section 202 of the UMRA, RBS generally must prepare a written statement, including a cost-benefit analysis, for proposed and final rules with ‘‘Federal mandates’’ that may result in expenditures to State, local or tribal governments, in the aggregate, or to the private sector, of $100 million or more in any one year. When such a statement is needed for a rule, section 205 of UMRA generally requires RBS to identify and consider a reasonable number of regulatory alternatives and adopt the least costly, more cost effective or least burdensome alternative that achieves the objectives of the rule. This rule contains no Federal mandates (under the regulatory provisions of Title II of the UMRA) for State, local, and tribal governments or the private sector. Thus, this rule is not subject to the requirements of sections 202 and 205 of UMRA. Executive Order 13132 It has been determined under Executive Order 13132, Federalism, that this rule does not have sufficient federalism implications to warrant the preparation of a Federalism Assessment. The provisions contained in this rule will not have a substantial direct effect on States or their political subdivisions or on the distribution of power and responsibilities among the various levels of government. Background A final rule was published in the Federal Register on June 8, 2006, concerning tangible balance sheet equity requirements for the Business and Industry Guaranteed Loan Program. The E:\FR\FM\19MRR1.SGM 19MRR1 Federal Register / Vol. 72, No. 52 / Monday, March 19, 2007 / Rules and Regulations rule modified existing debt refinancing eligibility language and inadvertently omitted three key words that existed prior to the final rule taking effect. This rule inserts those three words back into the debt refinancing eligibility language. PART 4279—GUARANTEED LOANMAKING 1. The authority citation for part 4279 continues to read as follows: I Authority: 5 U.S.C. 301 and 7 U.S.C. 1989. Subpart B—Business and Industry Loans 2. In § 4279.113, paragraph (r) is revised to read as follows: I Eligible loan purposes. * * * * * (r) To refinance outstanding debt when it is determined that the project is viable and refinancing is necessary to improve cash flow and create new or save existing jobs. Except as provided for in § 4279.108(d)(4) of this subpart, existing lender debt may be included provided that, at the time of application, the loan has been current for at least the past 12 months (unless such status is achieved by the lender forgiving the borrower’s debt) and the lender is providing better rates or terms. Subordinated owner debt is not eligible under this paragraph. Unless the amount to be refinanced is owed directly to the Federal government or is federally guaranteed, the existing lender debt refinancing must be a secondary part (less than 50 percent) of the overall loan. * * * * * Dated: February 23, 2007. Jackie J. Gleason, Administrator, Rural Business—Cooperative Service. [FR Doc. E7–4920 Filed 3–16–07; 8:45 am] cprice-sewell on PROD1PC66 with RULES 15:36 Mar 16, 2007 Jkt 211001 The Nuclear Regulatory Commission (NRC) is amending its regulations that govern the requirements pertaining to the design basis threats (DBTs). This final rule makes generically applicable security requirements similar to those previously imposed by the Commission’s April 29, 2003 DBT Orders, based upon experience and insights gained by the Commission during implementation, and redefines the level of security requirements necessary to ensure that the public health and safety and common defense and security are adequately protected. Pursuant to Section 170E of the Atomic Energy Act (AEA), the final rule revises the DBT requirements for radiological sabotage, generally applicable to power reactors and Category I fuel cycle facilities, and for theft or diversion of NRC-licensed Strategic Special Nuclear Material (SSNM), applicable to Category I fuel cycle facilities. Additionally, a petition for rulemaking (PRM–73–12), filed by the Committee to Bridge the Gap, was considered as part of this rulemaking. The NRC partially granted PRM–73–12 in the proposed rule, but deferred action on other aspects of the petition to the final rule. The NRC’s final disposition of PRM–73–12 is contained in this document. SUMMARY: Accordingly, chapter XLII, title 7, Code of Federal Regulations, is amended as follows: VerDate Aug<31>2005 RIN 3150–AH60 Nuclear Regulatory Commission. ACTION: Final rule. I BILLING CODE 3410–XY–P 10 CFR Part 73 AGENCY: Business and industry, Loan programs, Rural areas, Rural development assistance. § 4279.113 IX. Availability of Documents X. Plain Language XI. Voluntary Consensus Standards XII. Finding of No Significant Environmental Impact: Environmental Assessment: Availability XIII. Paperwork Reduction Act Statement XIV. Regulatory Analysis XV. Regulatory Flexibility Act Certification XVI. Backfit Analysis XVII. Congressional Review Act NUCLEAR REGULATORY COMMISSION Design Basis Threat List of Subjects in 7 CFR Part 4279 DATES: Effective Date: April 18, 2007. FOR FURTHER INFORMATION CONTACT: Manash K. Bagchi, Office of Nuclear Reactor Regulation, U.S. Nuclear Regulatory Commission, Washington, DC 20555–0001, telephone 301–415– 2905, e-mail MKB2@NRC.GOV. SUPPLEMENTARY INFORMATION: Table of Contents I. Background II. Analysis of Public Comments and Consideration of the 12 Factors of the Energy Policy Act of 2005 III. Summary of Specific Changes Made to the Proposed Rule as a Result of Public Comments IV. Section by Section Analysis V. Guidance VI. Resolution of Petition (PRM–73–12) VII. Criminal Penalties VIII. Compatibility of Agreement State Regulations PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 12705 I. Background The DBT requirements in 10 CFR 73.1 describe general adversary characteristics that designated licensees must defend against with high assurance. These NRC requirements include protection against radiological sabotage (generally applied to power reactors and Category I fuel cycle facilities) and theft or diversion of NRClicensed SSNM (generally applied to Category I fuel cycle facilities). On November 7, 2005 (70 FR 67380), the Commission published a proposed rule for public comment seeking to amend its regulation that governs the requirements pertaining to the DBTs. The DBTs are used by licensees to form the basis for site-specific defensive strategies implemented through physical security plans, safeguards contingency plans, and security personnel training and qualifications plans. Amendment of the DBT rule was influenced by a number of factors described below. Following the terrorist attacks on September 11, 2001, the NRC conducted a thorough review of security practices to ensure that nuclear power plants and other licensed facilities continued to have effective security measures in place to address the changing threat environment. The NRC recognized that some elements of the DBTs required enhancement. After soliciting and receiving comments from Federal, State, and local agencies, and industry stakeholders, and reviewing an analysis of intelligence information regarding the trends and capabilities of potential adversaries, the NRC imposed supplemental DBT requirements by order on April 29, 2003. The Commission deliberated on the responsibilities of the local, State, and Federal stakeholders to protect the nation and the responsibility of the licensees to protect individual nuclear facilities before issuing the April 29, 2003 DBT Orders. The April 29, 2003 DBT Orders required nuclear power reactors and Category I fuel cycle facility licensees to revise their physical security plans, security personnel training and qualification plans, and safeguards contingency plans to defend against the E:\FR\FM\19MRR1.SGM 19MRR1

Agencies

[Federal Register Volume 72, Number 52 (Monday, March 19, 2007)]
[Rules and Regulations]
[Pages 12704-12705]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E7-4920]


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

DEPARTMENT OF AGRICULTURE

Rural Business-Cooperative Service

7 CFR Part 4279

RIN 0570-AA26


Business and Industry Guaranteed Loan Program; Technical 
Correction

AGENCY: Rural Business--Cooperative Service, USDA.

ACTION: Final rule.

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

SUMMARY: The Rural Business-Cooperative Service (RBS) is revising its 
program regulations to correct an inadvertent omission in a sentence 
concerning eligibility of debt refinancing. The words ``existing lender 
debt'' will be added to a sentence that currently limits refinancing to 
less than 50 percent of the overall loan. The intended effect is to 
limit existing lender debt refinancing to less than 50 percent of the 
overall loan.

DATES: Effective Date: March 19, 2007.

FOR FURTHER INFORMATION CONTACT: Brenda Griffin, Loan Specialist, 
Business and Industry Division, Rural Business-Cooperative Service, 
U.S. Department of Agriculture, STOP 3224, 1400 Independence Avenue, 
SW., Washington, DC 20250-3224. Telephone: (202) 720-6802; TDD number 
is (800) 877-8339 or (202) 708-9300; Fax number: (202) 720-6003; e-
mail: brenda.griffin@usda.gov.

SUPPLEMENTARY INFORMATION:

Classification

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

Programs Affected

    The Catalog of Federal Domestic Assistance number for the program 
impacted by this action is 10.768, Business and Industry Loans.

Intergovernmental Review

    Business and Industry Guaranteed Loans are subject to the 
provisions of Executive Order 12372, which require intergovernmental 
consultation with state and local officials. RBS will conduct 
intergovernmental consultation in the manner delineated in RD 
Instruction 1940-J, ``Intergovernmental Review of Rural Development 
Programs and Activities,'' available in any Rural Development office 
and on the Internet at https://rurdev.usda.gov.regs/ and in 7 CFR part 
3015, subpart V.

Paperwork Reduction Act

    The information collection requirements contained in this 
regulation have been previously approved by OMB under the provisions of 
44 U.S.C. chapter 35 and have been assigned OMB control number 0570-
0017, in accordance with the Paperwork Reduction Act (PRA) of 1995. 
There is no new paperwork burden associated with this correction.

E-Government Act Compliance

    RBS is committed to complying with the E-Government Act, to promote 
the use of the Internet and other information technologies to provide 
increased opportunities for citizen access to Government information 
and services, and for other purposes. For information pertinent to E-
GOV compliance related to this proposed rule, please contact Brenda 
Griffin at (202) 720-6802.

Regulatory Flexibility Act

    In compliance with the Regulatory Flexibility Act (5 U.S.C. 601-
612), the undersigned has determined and certified by signature of this 
document that this rule will not have a significant economic impact on 
a substantial number of small entities. Since this rule is a technical 
correction and has no significant economic impact on a substantial 
number of small entities, a regulatory flexibility analysis was not 
performed.

Civil Justice Reform

    This rule has been reviewed under Executive Order 12988, Civil 
Justice Reform. In accordance with this Executive Order: (1) All State 
and local laws and regulations that are in conflict with this rule will 
be preempted, (2) no retroactive effect will be given this rule, and 
(3) administrative proceedings in accordance with 7 CFR part 11 must be 
exhausted before bringing litigation challenging action taken under 
this rule unless these regulations specifically allow bringing suit at 
an earlier time.

Environmental Impact Statement

    This document has been reviewed in accordance with 7 CFR part 1940, 
subpart G, ``Environmental Program.'' RBS has determined that this 
action does not constitute a major Federal action significantly 
affecting the quality of the human environment, and in accordance with 
the National Environmental Policy Act of 1969, 42 U.S.C. 4321 et seq., 
an Environmental Impact Statement is not required.

Unfunded Mandates Reform Act

    Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public 
Law 104-4, establishes requirements for Federal agencies to assess the 
effects of their regulatory actions on State, local, and tribal 
governments and the private sector. Under section 202 of the UMRA, RBS 
generally must prepare a written statement, including a cost-benefit 
analysis, for proposed and final rules with ``Federal mandates'' that 
may result in expenditures to State, local or tribal governments, in 
the aggregate, or to the private sector, of $100 million or more in any 
one year. When such a statement is needed for a rule, section 205 of 
UMRA generally requires RBS to identify and consider a reasonable 
number of regulatory alternatives and adopt the least costly, more cost 
effective or least burdensome alternative that achieves the objectives 
of the rule.
    This rule contains no Federal mandates (under the regulatory 
provisions of Title II of the UMRA) for State, local, and tribal 
governments or the private sector. Thus, this rule is not subject to 
the requirements of sections 202 and 205 of UMRA.

Executive Order 13132

    It has been determined under Executive Order 13132, Federalism, 
that this rule does not have sufficient federalism implications to 
warrant the preparation of a Federalism Assessment. The provisions 
contained in this rule will not have a substantial direct effect on 
States or their political subdivisions or on the distribution of power 
and responsibilities among the various levels of government.

Background

    A final rule was published in the Federal Register on June 8, 2006, 
concerning tangible balance sheet equity requirements for the Business 
and Industry Guaranteed Loan Program. The

[[Page 12705]]

rule modified existing debt refinancing eligibility language and 
inadvertently omitted three key words that existed prior to the final 
rule taking effect. This rule inserts those three words back into the 
debt refinancing eligibility language.

List of Subjects in 7 CFR Part 4279

    Business and industry, Loan programs, Rural areas, Rural 
development assistance.

0
Accordingly, chapter XLII, title 7, Code of Federal Regulations, is 
amended as follows:

PART 4279--GUARANTEED LOANMAKING

0
1. The authority citation for part 4279 continues to read as follows:

    Authority: 5 U.S.C. 301 and 7 U.S.C. 1989.

Subpart B--Business and Industry Loans

0
2. In Sec.  4279.113, paragraph (r) is revised to read as follows:


Sec.  4279.113  Eligible loan purposes.

* * * * *
    (r) To refinance outstanding debt when it is determined that the 
project is viable and refinancing is necessary to improve cash flow and 
create new or save existing jobs. Except as provided for in Sec.  
4279.108(d)(4) of this subpart, existing lender debt may be included 
provided that, at the time of application, the loan has been current 
for at least the past 12 months (unless such status is achieved by the 
lender forgiving the borrower's debt) and the lender is providing 
better rates or terms. Subordinated owner debt is not eligible under 
this paragraph. Unless the amount to be refinanced is owed directly to 
the Federal government or is federally guaranteed, the existing lender 
debt refinancing must be a secondary part (less than 50 percent) of the 
overall loan.
* * * * *

    Dated: February 23, 2007.
Jackie J. Gleason,
Administrator, Rural Business--Cooperative Service.
[FR Doc. E7-4920 Filed 3-16-07; 8:45 am]
BILLING CODE 3410-XY-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.