Regulatory Streamlining of the Farm Service Agency's Direct Farm Loan Programs; Conforming Changes, 64119-64123 [07-5659]
Download as PDF
<![CDATA[
64119
Rules and Regulations
Federal Register
Vol. 72, No. 220
Thursday, November 15, 2007
This section of the FEDERAL REGISTER
contains regulatory documents having general
applicability and legal effect, most of which
are keyed to and codified in the Code of
Federal Regulations, which is published under
50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by
the Superintendent of Documents. Prices of
new books are listed in the first FEDERAL
REGISTER issue of each week.
DEPARTMENT OF AGRICULTURE
Farm Service Agency
7 CFR Parts 771, 772, 773, and 774
Rural Business-Cooperative Service
Rural Housing Service
Rural Utilities Service
Farm Service Agency
7 CFR Parts 1806, 1901, 1910, 1924,
1925, 1927, 1940, 1941, 1943, 1950,
1951, 1955, 1956, 1962, and 1965
RIN 0560–AF60
Regulatory Streamlining of the Farm
Service Agency’s Direct Farm Loan
Programs; Conforming Changes
Farm Service Agency, Rural
Business-Cooperative Service; Rural
Housing Service; and Rural Utilities
Service, USDA.
ACTION: Final rule.
rfrederick on PROD1PC67 with RULES
AGENCIES:
SUMMARY: This rule removes the Farm
Service Agency’s direct Farm Loan
Programs regulations from the Rural
Development’s mission area loan
program regulations. In addition, it
makes conforming changes to FSA’s
regulations for the boll weevil
eradication loan program, the servicing
of minor program loans, the special
apple loan program, and the emergency
loan for seed producers program.
DATES: Effective Date: December 31,
2007.
FOR FURTHER INFORMATION CONTACT:
William D. Cobb, USDA, FSA, DAFLP,
STOP 0520, 1400 Independence
Avenue, SW., Washington, DC 20250–
0520; telephone (202) 720–1059;
electronic mail:
bill_cobb@wdc.usda.gov.
SUPPLEMENTARY INFORMATION:
VerDate Aug<31>2005
15:27 Nov 14, 2007
Jkt 214001
Discussion of the Final Rule
FSA proposed to move the majority of
its Farm Loan Programs direct loan
making and servicing rules from
Chapter XVIII to Chapter VII of the Code
of Federal Regulations (CFR) in a
proposed rule it published on February
9, 2004 (69 FR 6055–6121). Prior to the
Department of Agriculture
Reorganization Act of 1994 (1994 Act),
Chapter XVIII contained the former
Farmers Home Administration (FmHA)
program regulations and Chapter VII
contained the former Agricultural
Stabilization and Conservation Service
(ASCS) program regulations. The 1994
Act abolished both FmHA and ASCS
and consolidated FmHA’s Farm Loan
Programs and ASCS programs under the
newly created FSA, while the remaining
FmHA programs were transferred to the
Rural Development mission area
agencies. With the exceptions listed
below, this final rule removes from
Chapter XVIII references to FmHA Farm
Loan Programs, now operated by FSA.
As a result of the 1994 Act, some of
the CFR subparts published by FmHA
were used by FSA and one or more of
the Rural Development mission area
agencies, while others were used
exclusively by FSA. The Farm Loan
Programs direct loan making and
servicing rules were dispersed
throughout Chapter XVIII, making their
use difficult for all but the most wellinformed user. Therefore, in a final rule
published on November 8, 2007 (72 FR
63241–63361), FSA is moving its Farm
Loan Programs regulations from Chapter
XVIII to Chapter VII, and is
consolidating and reorganizing them in
a logical manner making them easier to
use by the general public, applicants
and borrowers, and FSA. In the
proposed rule of February 9, 2004, FSA
stated that when the final rule was
published, it would remove the Chapter
XVIII subparts used only by FSA.
However, as provided in the prefatory
remarks to the final rule published on
November 8, 2007, FSA will continue to
use subpart G of 7 CFR part 1940,
subpart C of 7 CFR part 1951, and
subpart B of 7 CFR part 1956 until it
publishes a final rule revising 7 CFR 799
for environmental procedures and 7
CFR part 792 for debt settlement
policies and procedures.
Lastly, FSA is amending 7 CFR parts
771, 772, 773, and 774 to remove CFR
citations that no longer are valid.
PO 00000
Frm 00001
Fmt 4700
Sfmt 4700
Executive Order 12866
This rule has been determined to be
not significant under Executive Order
12866 and was not reviewed by OMB.
Regulatory Flexibility Act
In compliance with the Regulatory
Flexibility Act (5 U.S.C. 601–602), 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. This rule does
not impose any new requirements on
FSA applicants and borrowers. In some
cases, existing information collections
and regulatory requirements have been
reduced as a result of streamlining the
loan making and servicing application
processes.
Environmental Assessment
FSA has completed an Environmental
Assessment (EA) in accordance with the
provisions of the National
Environmental Policy Act of 1969
(NEPA), 42 U.S.C. 4321–4347, the
regulations of the Council on
Environmental Quality (40 CFR parts
1500–1508) and the FSA regulations for
compliance with NEPA, 7 CFR part
1940, subpart G. A finding of no
significant impact (FONSI) was
determined as a result of the EA
process. The final EA and FONSI are
available for review at https://
www.fsa.usda.gov/FSA/webapp?
area=home&subject=ecrc&topic=enl-ea.
FSA will accept comments on the final
EA and FONSI for a period of 30 days
from the date of publication of this rule.
Executive Order 13132
The policies contained in this rule do
not have a substantial direct effect on
the States, on the relationship between
the national government and the States,
or on the distribution of power and
responsibilities among the various
levels of government. Nor does this final
rule impose substantial direct
compliance costs on state and local
governments. Therefore, consultation
with the States is not required.
Executive Order 12988
This final rule has been reviewed in
accordance with 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
E:\FR\FM\15NOR1.SGM
15NOR1
64120
Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 / Rules and Regulations
preempted; (2) no retroactive effect will
be given to this rule; and (3)
administrative proceedings in
accordance with 7 CFR parts 11 and 780
must be exhausted before bringing suit
in court challenging action taken under
this rule unless those regulations
specifically allow bringing suit at an
earlier time.
Executive Order 12372
For reasons contained in the Notice
regarding 7 CFR part 3015, subpart V
(48 FR 29115, June 24, 1983), the
programs within this rule are excluded
from the scope of E.O. 12372, which
requires intergovernmental consultation
with State and local officials.
Unfunded Mandates
Title II of the Unfunded Mandates
Reform Act of 1995 (UMRA), Public
Law 104–4, requires Federal agencies to
assess the effects of their regulatory
actions on state, local, and tribal
governments or the private sector of
$100 million or more in any 1 year.
When such a statement is needed for a
rule, section 205 of the UMRA requires
FSA to prepare a written statement,
including a cost benefit assessment, for
proposed and final rules with ‘‘Federal
mandates’’ that may result in such
expenditures for state, local, or tribal
governments, in the aggregate, or to the
private sector. UMRA generally requires
agencies to consider alternatives and
adopt the more cost effective or least
burdensome alternative that achieves
the objectives of the rule.
This rule contains no Federal
mandates, as defined under 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.
Paperwork Reduction Act
The amendments to 7 CFR 1806,
1901, 1924, 1925, 1927, 1951, and 1955
contained in this final rule have been
approved by OMB under control
numbers 0575–0042, 0575–0075, 0575–
0087, 0575–0088, 0575–0093, 0575–
0147, 0575–0158, and 0575–0172. In
accordance with 5 CFR 1320, FSA
submitted to OMB correction
worksheets to transfer applicable
information collections to FSA-assigned
OMB control numbers.
rfrederick on PROD1PC67 with RULES
E-Government Act Compliance
FSA 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
VerDate Aug<31>2005
15:27 Nov 14, 2007
Jkt 214001
access to Government information and
services, and for other purposes.
FSA has posted on the e-Gov Web site
at https://www.sc.egov.usda.gov all the
forms an applicant or borrower has to
complete in their entirety, or review and
execute. Further, FSA has made
available its handbooks at https://
www.fsa.usda.gov/FSA/webapp?area=
home&subject=lare&topic=hbk.
Applicants or borrowers may download
and review any agency handbook
through the ‘‘Laws and Regulations’’
link, and become familiar with the
requirements for applying for benefits.
Federal Assistance Programs
These changes affect the following
FSA programs as listed in the Catalog of
Federal Domestic Assistance:
10.404—Emergency Loans
10.406—Farm Operating Loans
10.407—Farm Ownership Loans
7 CFR Part 771
Loan programs—agriculture,
Pesticides and pests, Cotton.
7 CFR Part 772
Agriculture, Credit, Rural areas.
7 CFR Part 773
Fruits, Loan programs—agriculture.
7 CFR Part 774
Seeds, Loan programs—agriculture.
7 CFR Part 1806
Buildings, Community development,
Disaster assistance, Flood plains,
Housing, Loan programs—Housing and
Community Development, Insurance,
Loan programs—Agriculture, Real
property insurance, Rural areas.
7 CFR Part 1901
Finance, Historic preservation, Loan
Programs—Agriculture, Loan
programs—Housing and community
development, Natural resources, Rural
areas.
7 CFR Part 1910
Administrative practice and
procedures, Applications, Credit,
Government contracts, Loan programs—
Agriculture, Loan programs—Housing
and community development, Low and
moderate income housing, Marital
status discrimination, Reporting
requirements, Sex discrimination.
7 CFR Part 1924
Agriculture, Construction
management, Construction and repair,
Energy conservation, Housing, Loan
programs—Agriculture, Loan
programs—Housing and community
Frm 00002
Fmt 4700
Sfmt 4700
7 CFR Part 1925
Real property taxes, Taxes.
7 CFR Part 1927
Loan programs—Agriculture, Loan
programs—Housing and community
development, Mortgages.
7 CFR Part 1940
Administrative practice and
procedure, Agriculture, Allocations,
Grant programs—Housing and
community development, Loan
programs—Agriculture, Rural areas.
7 CFR Parts 1941 and 1943
Applicant eligibility, Beginning
farmers and ranchers, Loan programs—
agriculture.
7 CFR Part 1950
List of Subjects
PO 00000
development, Low and moderate
income housing.
Accounting, Loan programs—
Agriculture, Military personnel.
7 CFR Part 1951
Accounting, Account servicing,
Credit, Debt restructuring, Foreclosure,
Government acquired property, Loan
programs—Agriculture, Loan
programs—Housing and community
development, Low and moderate
income housing loans—Servicing,
Mortgages, Rural areas, Sale of
government acquired property, Surplus
government property.
7 CFR Part 1955
Foreclosure, Government acquired
property, Government property
management, Sale of government
acquired property, Surplus government
property.
7 CFR Part 1956
Accounting, Loan programs—
Agriculture, Rural areas.
7 CFR Part 1962
Crops, Government property,
Livestock, Loan programs—Agriculture,
Rural areas.
7 CFR Part 1965
Foreclosure, Loan programs—
Agriculture, Rural areas.
I Accordingly, 7 CFR Chapters VII and
XVIII are amended as follows:
PART 771—BOLL WEEVIL
ERADICATION LOAN PROGRAM
1. The authority citation for part 771
continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; and
Pub. L. 104–180, 110 Stat. 1569.
E:\FR\FM\15NOR1.SGM
15NOR1
Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 / Rules and Regulations
I
§ 772.16
§ 771.15
* * * If such a transfer or voluntary
sale is not carried out, the loan will be
liquidated according to 7 CFR part 766.
* * *
I 9. Revise § 772.17 to read as follows:
2. Revise the first sentence of
§ 771.15(c) introductory text to read as
follows:
Loan servicing.
*
*
*
*
*
(c) Restructuring. The provisions of 7
CFR part 766 are not applicable to loans
made under this section. * * *
*
*
*
*
*
Liquidation.
64121
Subpart A—Real Property Insurance
§ 772.17 Equal opportunity and nondiscrimination requirements.
16. Section 1806.1(a) is amended by
removing the text ‘‘the Farm Credit
Programs of the Farm Service Agency
(FSA) or’’ in the first sentence; and
adding a new last sentence to read as
follows:
I
§ 1806.1
General.
3. The authority citation for part 772
continues to read as follows:
With respect to any aspect of a credit
transaction, the Agency will comply
with the requirements of the Equal
Credit Opportunity Act and the
Department’s civil rights policy in 7
CFR part 15d.
(a) * * * This subpart is inapplicable
to Farm Service Agency, Farm Loan
Programs.
*
*
*
*
*
Authority: 5 U.S.C. 301, 7 U.S.C. 1989, 25
U.S.C. 490.
PART 773—SPECIAL APPLE LOAN
PROGRAM
I
4. Revise the second sentence of
§ 772.9 (b) to read as follows:
I
PART 772—SERVICING MINOR
PROGRAM LOANS
I
I
§ 772.9
10. The authority citation for part 773
continues to read as follows:
Releases.
*
*
*
*
*
(b) Borrower liability. * * * IMP
borrowers who have had previous debt
forgiveness on a farm loan program loan
as defined in 7 CFR part 761, however,
cannot be released from liability by FSA
until the previous loss to the Agency
has been repaid with interest from the
date of debt forgiveness. * * *
*
*
*
*
*
I 5. Revise the first sentence of § 772.11
to read as follows:
§ 772.11
loans.
Transfer and assumption—IMP
Transfers and assumptions for IMP
loans are processed in accordance with
7 CFR part 765. * * *
I 6. Revise the first sentence of § 772.12
(b)(2) to read as follows:
§ 772.12
Graduation.
*
*
*
*
*
(b) * * *
(1) * * *
(2) All IMP borrowers classified as
‘‘commercial’’ or ‘‘standard’’ by the
agency must be reviewed at least every
2 years. * * *
*
*
*
*
*
I 7. Revise § 772.13 (b) to read as
follows:
§ 772.12
rfrederick on PROD1PC67 with RULES
*
*
*
*
(b) IMP loans. Delinquent IMP
borrowers will be serviced according to
7 CFR part 3, part 766, and part 1951,
subpart C, concerning internal agency
offset and referral to the Department of
the Treasury Offset Program and
Treasury Cross-Servicing (or successor
regulations).
*
*
*
*
*
I 8. Revise the second sentence of
§ 772.16 to read as follows:
VerDate Aug<31>2005
15:27 Nov 14, 2007
Jkt 214001
I
11. Revise § 773.22 to read as follows:
§ 773.22
Loan servicing.
Loans will be serviced as a Nonprogram loan in accordance with 7 CFR
part 766 during the term of the loan. If
the loan is not paid in full during this
term, servicing will proceed in
accordance with 7 CFR part 766, subpart
H.
PART 774—EMERGENCY LOAN FOR
SEED PRODUCERS PROGRAM
12. The authority citation for part 774
continues to read as follows:
I
Authority: Pub. L. 106–224.
13. Revise the second sentence of
§ 774.18(b)(2) to read as follows:
17. Section 1806.21(a) is amended by
revising the last sentence to read as
follows:
§ 1806.21
General.
(a) * * * This subpart does not apply
to Farm Service Agency, Farm Loan
Programs and to Rural Rental Housing,
Rural Cooperative Housing, or Farm
Labor Housing programs of the Rural
Housing Service.
*
*
*
*
*
PART 1901—PROGRAM-RELATED
INSTRUCTIONS
18. The authority citation for part
1901 continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart F—Procedures for the
Protection of Historical and
Archeological Properties
I
I
§ 774.18 Interest rate, terms and security
requirements.
§ 1901.251
*
*
*
*
*
(b) * * *
(2) * * * If the loan is not paid in full
during this time and default occurs,
servicing will proceed in accordance
with 7 CFR part 766, subpart H.
*
*
*
*
*
I 14. Revise § 774.23 to read as follows:
§ 774.23
Delinquent account servicing.
*
Authority: Pub. L. 106–224.
Subpart B—National Flood Insurance
Loan servicing.
Loans will be serviced as a Nonprogram loan in accordance with 7 CFR
part 766. If the loan is not repaid as
agreed and default occurs, servicing will
proceed in accordance with 7 CFR part
766, subpart H.
15. The authority citation for part
1806 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480; 42 U.S.C. 2942.
Fmt 4700
Sfmt 4700
Subpart K—Certificates of Beneficial
Ownership and Insured Notes
20. Section 1901.501 is amended by
adding a new last sentence to read as
follows:
I
§ 1901.501
Purpose.
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
Subpart N [Removed]
21. Subpart N is removed and
reserved.
I
Frm 00003
Purpose.
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
I
PART 1806—INSURANCE
PO 00000
19. Section 1901.251 is amended by
adding a new last sentence to read as
follows:
PART 1910—GENERAL
22. The authority citation for part
1910 continues to read as follows:
I
E:\FR\FM\15NOR1.SGM
15NOR1
64122
Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 / Rules and Regulations
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart A [Removed]
23. Subpart A is removed and
reserved.
Emergency (EM), Economic Opportunity
(EO),’’ and ‘‘Softwood Timber (ST),’’ in
the first sentence; and adding a new last
sentence to read as follows:
§ 1925.1
Subpart B—Credit Reports (Individual)
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
24. Amend § 1910.51 by adding a new
last sentence to read as follows:
§ 1910.51
PART 1927—TITLE CLEARANCE AND
LOAN CLOSING
25. Amend § 1910.101 by adding a
new last sentence to read as follows:
I
§ 1910.101
31. The authority citation for part
1927 continues to read as follows:
I
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
PART 1924—CONSTRUCTION AND
REPAIR
26. The authority citation for part
1924 continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart A—Planning and Performing
Construction and Other Development
27. Section 1924.1 is amended by
removing the text ‘‘, insured Farm
Ownership (FO), Soil and Water (SW),
Softwood Timber (ST)’’ and the text ‘‘,
and Emergency (EM) loans for
individuals’’ from the first sentence; and
adding a new last sentence to read as
follows:
I
Purpose
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
32. Section 1927.51(a) is amended by
removing the text ‘‘and Farm Service
Agency (FSA) loans: Farm Ownership
(FO), Nonfarm Enterprise (FO–NFE),
Emergency (EM), Operating (OL)’’ in the
first sentence; removing the text ‘‘Soil
and Water (SW), Indian Land
acquisition loan involving nontrust
property,’’ in the first sentence; and
adding a new last sentence to read as
follows:
I
§ 1927.51
General.
(a) * * * This subpart is inapplicable
to Farm Service Agency, Farm Loan
Programs.
PART 1940—GENERAL
33. The authority citation for part
1940 continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart L—Methodology and
Formulas for Allocation of Loan and
Grant Program Funds
34. Section 1940.551(a) is amended by
adding a new last sentence to read as
follows:
I
§ 1940.551
(a) * * * This subpart is inapplicable
to Farm Service Agency, Farm Loan
Programs.
*
*
*
*
*
PART 1925—TAXES
29. The authority citation for part
1925 continues to read as follows:
I
rfrederick on PROD1PC67 with RULES
Subpart A—Real Estate Tax Servicing
Jkt 214001
Purpose and general policy.
§§ 1940.555 through 1940.559
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
15:27 Nov 14, 2007
Purpose.
PART 1951—SERVICING AND
COLLECTIONS
28. Subpart B is removed and
reserved.
I
VerDate Aug<31>2005
§ 1950.101
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart B—[Removed]
30. Section 1925.1 is amended by
removing the text ‘‘a Farm Ownership
(FO), Operating Loan (OL), Soil and
Water (SW), Recreation Loan (RL),
39. Section 1950.101 is amended by
adding a new last sentence to read as
follows:
I
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
I
Preface.
I
Subpart C—Servicing Accounts of
Borrowers Entering the Armed Forces
Subpart B—Real Estate Title Clearance
and Loan Closing
Subpart C—Commercial Credit
Reports
§ 1924.1
General.
Purpose.
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
38. The authority citation for part
1950 continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
I
I
PART 1950—GENERAL
[Removed]
35. Remove and reserve §§ 1940.555
through 1940.559.
I
PART 1941—[REMOVED]
I
36. Remove and reserve part 1941.
PART 1943—[REMOVED]
I
37. Remove and reserve part 1943.
PO 00000
Frm 00004
Fmt 4700
Sfmt 4700
40. The authority citation for part
1951 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C 1932 Note;
7 U.S.C. 1989; 31 U.S.C. 3716; 42 U.S.C.
1480.
Subpart A—Account Servicing Policies
41. Section 1951.1 is amended by
removing the text ‘‘Farmer Program
loans (FP) which include Softwood
Timber (ST), Operating Loan (OL), Farm
Ownership (FO), Soil and Water (SW),
Recreation Loan (RL), Emergency Loan
(EM), Economic Emergency Loan (EE),
Special Livestock Loan (SL), Economic
Opportunity Loan (EO), and Rural
Housing Loan for farm service buildings
(RHF)’’; and adding a new last sentence
to read as follows:
I
§ 1951.1
Purpose.
* * * In addition, this subpart is
inapplicable to Farm Service Agency,
Farm Loan Programs.
Subpart C—Offsets of Federal
Payments to USDA Agency Borrowers
42. Revise the fourth and fifth
sentences of the introductory text of
§ 1951.111 and the third sentence of
§ 1951.111(d)(1) to read as follows:
I
§ 1951.111
Salary offset.
* * * For delinquent Farm Loan
Programs direct loans, salary offset will
not begin until the borrower has been
notified of servicing options in
accordance with 7 CFR part 766. In
addition, for Farm Loan Programs direct
loans, salary offset will not be instituted
if the Federal salary has been
considered on the farm operating plan,
and it was determined the funds were
to be used for another purpose other
than payment on the USDA Agency
loan. * * *
*
*
*
*
*
E:\FR\FM\15NOR1.SGM
15NOR1
Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 / Rules and Regulations
(d) * * *
(1) * * * For Farm Loan Programs
direct loans, this notice will be sent
after the borrower is over 90 days past
due and immediately after sending
notification of servicing rights in
accordance with 7 CFR part 766. * * *
*
*
*
*
*
Subpart D—Final Payment on Loans
43. Section 1951.151 is amended by
removing the text ‘‘Farm Service Agency
(FSA),’’ in the first sentence; and adding
a new last sentence to read as follows:
I
Subpart B—Management of Property
48. Section 1955.51 is amended by
removing the comma immediately
following ‘‘(RBS)’’ and adding the word
‘‘and’’ in its place; by removing the text
‘‘, and Farm Service Agency (FSA),’’ in
the first sentence of the introductory
paragraph; and revising the second
sentence of the introductory paragraph
to read as follows:
I
§ 1955.51
* * * In addition, this subpart is
inapplicable to Farm Service Agency,
Farm Loan Programs.
Subpart F—Analyzing Credit Needs
and Graduation of Borrowers
Subpart C—Disposal of Inventory
Property
44. Section 1951.251 is amended by
removing the text ‘‘Farm Service Agency
(FSA)’’, in the third sentence; and
revising the fourth sentence to read as
follows:
I
Purpose.
I
49. Section 1955.101 is amended by
revising the fifth sentence to read as
follows:
§ 1955.101
Subpart A—Servicing and Liquidation
of Chattel Security
53. Section 1962.1 is amended by
adding a new last sentence to read as
follows:
I
§ 1962.1
Purpose.
* * * This subpart is inapplicable to
Farm Service Agency, Farm Loan
Programs.
PART 1965—REAL PROPERTY
Purpose.
* * * This subpart does not apply to
Farm Service Agency, Farm Loan
Programs, or to RHS single family
housing loans or community program
loans sold without insurance to the
private sector. * * *
*
*
*
*
*
§ 1951.151
64123
Subpart A—[Removed]
54. Subpart A is removed and
reserved.
I
Dated: November 5, 2007.
Mark Keenum,
Under Secretary for Farm and Foreign
Agricultural Services.
Dated: November 2, 2007.
Thomas C. Dorr,
Under Secretary for Rural Development.
[FR Doc. 07–5659 Filed 11–14–07; 8:45 am]
BILLING CODE 3410–05–P
Purpose.
* * * This subpart does not apply to
Farm Service Agency, Farm Loan
Programs and to RHS direct single
family housing (SFH) customers. * * *
*
*
*
*
*
* * * This subpart does not apply to
Farm Service Agency, Farm Loan
Programs, Single Family Housing (SFH)
inventory property, or to the Rural
Rental Housing, Rural Cooperative
Housing, and Farm Labor Housing
Programs. * * *
*
*
*
*
*
Subparts J, L, S, and T—[Removed]
PART 1956—DEBT SETTLEMENT
Tomatoes Grown in Florida; Decreased
Assessment Rate
50. The authority citation for part
1956 continues to read as follows:
AGENCY:
§ 1951.251
Purpose.
I
45. Subparts J, L, S, and T are
removed and reserved.
I
PART 1955—PROPERTY
MANAGEMENT
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 31
U.S.C. 3711; 42 U.S.C. 1480.
46. The authority citation for part
1955 continues to read as follows:
Subpart B—Debt Settlement—Farm
Loan Programs and Multi-Family
Housing
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
Subpart A—Liquidation of Loans
Secured by Real Estate and
Acquisition of Real and Chattel
Property
§ 1956.54
*
*
*
*
Debt forgiveness. * * * Included, but
not limited to, are losses from a
writedown or writeoff under 7 CFR part
766, debt settlement, after discharge
under the provisions of the bankruptcy
code, and associated with release of
liability. * * *
*
*
*
*
*
47. Section 1955.1 is amended by
removing the text ‘‘Farm Credit
programs of the Farm Service Agency
(FSA),’’ in the second sentence; and
revising the fourth sentence to read as
follows:
rfrederick on PROD1PC67 with RULES
Purpose.
* * * This subpart does not apply to
Farm Service Agency, Farm Loan
Programs, to RHS single family housing
loans, or to CF loans sold without
insurance in the private sector. * * *
*
*
*
*
*
VerDate Aug<31>2005
15:27 Nov 14, 2007
Jkt 214001
Definitions.
*
I
§ 1955.1
51. Revise the second sentence of the
‘‘debt forgiveness’’ definition in
§ 1956.54 to read as follows:
I
PART 1962—PERSONAL PROPERTY
52. The authority citation for part
1962 continues to read as follows:
I
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42
U.S.C. 1480.
PO 00000
Frm 00005
Fmt 4700
Sfmt 4700
DEPARTMENT OF AGRICULTURE
Agricultural Marketing Service
7 CFR Part 966
[Docket No. AMS–FV–07–0114; FV07–966–
2 IFR]
Agricultural Marketing Service,
USDA.
ACTION: Interim final rule with request
for comments.
SUMMARY: This rule decreases the
assessment rate established for the
Florida Tomato Committee (Committee)
for the 2007–08 and subsequent fiscal
periods from $0.035 to $0.0325 per 25pound carton of tomatoes handled. The
Committee locally administers the
marketing order which regulates the
handling of tomatoes grown in Florida.
Assessments upon tomato handlers are
used by the Committee to fund
reasonable and necessary expenses of
the program. The fiscal period begins
August 1 and ends July 31. The
assessment rate will remain in effect
indefinitely unless modified,
suspended, or terminated.
DATES: Effective November 16, 2007.
Comments received by January 14, 2008,
will be considered prior to issuance of
a final rule.
ADDRESSES: Interested persons are
invited to submit written comments
concerning this rule. Comments must be
E:\FR\FM\15NOR1.SGM
15NOR1
]]>Agencies
[Federal Register Volume 72, Number 220 (Thursday, November 15, 2007)]
[Rules and Regulations]
[Pages 64119-64123]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 07-5659]
========================================================================
Rules and Regulations
Federal Register
________________________________________________________________________
This section of the FEDERAL REGISTER contains regulatory documents
having general applicability and legal effect, most of which are keyed
to and codified in the Code of Federal Regulations, which is published
under 50 titles pursuant to 44 U.S.C. 1510.
The Code of Federal Regulations is sold by the Superintendent of Documents.
Prices of new books are listed in the first FEDERAL REGISTER issue of each
week.
========================================================================
Federal Register / Vol. 72, No. 220 / Thursday, November 15, 2007 /
Rules and Regulations
[[Page 64119]]
DEPARTMENT OF AGRICULTURE
Farm Service Agency
7 CFR Parts 771, 772, 773, and 774
Rural Business-Cooperative Service
Rural Housing Service
Rural Utilities Service
Farm Service Agency
7 CFR Parts 1806, 1901, 1910, 1924, 1925, 1927, 1940, 1941, 1943,
1950, 1951, 1955, 1956, 1962, and 1965
RIN 0560-AF60
Regulatory Streamlining of the Farm Service Agency's Direct Farm
Loan Programs; Conforming Changes
AGENCIES: Farm Service Agency, Rural Business-Cooperative Service;
Rural Housing Service; and Rural Utilities Service, USDA.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: This rule removes the Farm Service Agency's direct Farm Loan
Programs regulations from the Rural Development's mission area loan
program regulations. In addition, it makes conforming changes to FSA's
regulations for the boll weevil eradication loan program, the servicing
of minor program loans, the special apple loan program, and the
emergency loan for seed producers program.
DATES: Effective Date: December 31, 2007.
FOR FURTHER INFORMATION CONTACT: William D. Cobb, USDA, FSA, DAFLP,
STOP 0520, 1400 Independence Avenue, SW., Washington, DC 20250-0520;
telephone (202) 720-1059; electronic mail: bill_cobb@wdc.usda.gov.
SUPPLEMENTARY INFORMATION:
Discussion of the Final Rule
FSA proposed to move the majority of its Farm Loan Programs direct
loan making and servicing rules from Chapter XVIII to Chapter VII of
the Code of Federal Regulations (CFR) in a proposed rule it published
on February 9, 2004 (69 FR 6055-6121). Prior to the Department of
Agriculture Reorganization Act of 1994 (1994 Act), Chapter XVIII
contained the former Farmers Home Administration (FmHA) program
regulations and Chapter VII contained the former Agricultural
Stabilization and Conservation Service (ASCS) program regulations. The
1994 Act abolished both FmHA and ASCS and consolidated FmHA's Farm Loan
Programs and ASCS programs under the newly created FSA, while the
remaining FmHA programs were transferred to the Rural Development
mission area agencies. With the exceptions listed below, this final
rule removes from Chapter XVIII references to FmHA Farm Loan Programs,
now operated by FSA.
As a result of the 1994 Act, some of the CFR subparts published by
FmHA were used by FSA and one or more of the Rural Development mission
area agencies, while others were used exclusively by FSA. The Farm Loan
Programs direct loan making and servicing rules were dispersed
throughout Chapter XVIII, making their use difficult for all but the
most well-informed user. Therefore, in a final rule published on
November 8, 2007 (72 FR 63241-63361), FSA is moving its Farm Loan
Programs regulations from Chapter XVIII to Chapter VII, and is
consolidating and reorganizing them in a logical manner making them
easier to use by the general public, applicants and borrowers, and FSA.
In the proposed rule of February 9, 2004, FSA stated that when the
final rule was published, it would remove the Chapter XVIII subparts
used only by FSA. However, as provided in the prefatory remarks to the
final rule published on November 8, 2007, FSA will continue to use
subpart G of 7 CFR part 1940, subpart C of 7 CFR part 1951, and subpart
B of 7 CFR part 1956 until it publishes a final rule revising 7 CFR 799
for environmental procedures and 7 CFR part 792 for debt settlement
policies and procedures.
Lastly, FSA is amending 7 CFR parts 771, 772, 773, and 774 to
remove CFR citations that no longer are valid.
Executive Order 12866
This rule has been determined to be not significant under Executive
Order 12866 and was not reviewed by OMB.
Regulatory Flexibility Act
In compliance with the Regulatory Flexibility Act (5 U.S.C. 601-
602), 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. This rule does not impose any
new requirements on FSA applicants and borrowers. In some cases,
existing information collections and regulatory requirements have been
reduced as a result of streamlining the loan making and servicing
application processes.
Environmental Assessment
FSA has completed an Environmental Assessment (EA) in accordance
with the provisions of the National Environmental Policy Act of 1969
(NEPA), 42 U.S.C. 4321-4347, the regulations of the Council on
Environmental Quality (40 CFR parts 1500-1508) and the FSA regulations
for compliance with NEPA, 7 CFR part 1940, subpart G. A finding of no
significant impact (FONSI) was determined as a result of the EA
process. The final EA and FONSI are available for review at https://
www.fsa.usda.gov/FSA/webapp?area=home&subject=ecrc&topic=enl-ea. FSA
will accept comments on the final EA and FONSI for a period of 30 days
from the date of publication of this rule.
Executive Order 13132
The policies contained in this rule do not have a substantial
direct effect on the States, on the relationship between the national
government and the States, or on the distribution of power and
responsibilities among the various levels of government. Nor does this
final rule impose substantial direct compliance costs on state and
local governments. Therefore, consultation with the States is not
required.
Executive Order 12988
This final rule has been reviewed in accordance with 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
[[Page 64120]]
preempted; (2) no retroactive effect will be given to this rule; and
(3) administrative proceedings in accordance with 7 CFR parts 11 and
780 must be exhausted before bringing suit in court challenging action
taken under this rule unless those regulations specifically allow
bringing suit at an earlier time.
Executive Order 12372
For reasons contained in the Notice regarding 7 CFR part 3015,
subpart V (48 FR 29115, June 24, 1983), the programs within this rule
are excluded from the scope of E.O. 12372, which requires
intergovernmental consultation with State and local officials.
Unfunded Mandates
Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Public
Law 104-4, requires Federal agencies to assess the effects of their
regulatory actions on state, local, and tribal governments or the
private sector of $100 million or more in any 1 year. When such a
statement is needed for a rule, section 205 of the UMRA requires FSA to
prepare a written statement, including a cost benefit assessment, for
proposed and final rules with ``Federal mandates'' that may result in
such expenditures for state, local, or tribal governments, in the
aggregate, or to the private sector. UMRA generally requires agencies
to consider alternatives and adopt the more cost effective or least
burdensome alternative that achieves the objectives of the rule.
This rule contains no Federal mandates, as defined under 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.
Paperwork Reduction Act
The amendments to 7 CFR 1806, 1901, 1924, 1925, 1927, 1951, and
1955 contained in this final rule have been approved by OMB under
control numbers 0575-0042, 0575-0075, 0575-0087, 0575-0088, 0575-0093,
0575-0147, 0575-0158, and 0575-0172. In accordance with 5 CFR 1320, FSA
submitted to OMB correction worksheets to transfer applicable
information collections to FSA-assigned OMB control numbers.
E-Government Act Compliance
FSA 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.
FSA has posted on the e-Gov Web site at https://www.sc.egov.usda.gov
all the forms an applicant or borrower has to complete in their
entirety, or review and execute. Further, FSA has made available its
handbooks at https://www.fsa.usda.gov/FSA/
webapp?area=home&subject=lare&topic=hbk. Applicants or borrowers may
download and review any agency handbook through the ``Laws and
Regulations'' link, and become familiar with the requirements for
applying for benefits.
Federal Assistance Programs
These changes affect the following FSA programs as listed in the
Catalog of Federal Domestic Assistance:
10.404--Emergency Loans
10.406--Farm Operating Loans
10.407--Farm Ownership Loans
List of Subjects
7 CFR Part 771
Loan programs--agriculture, Pesticides and pests, Cotton.
7 CFR Part 772
Agriculture, Credit, Rural areas.
7 CFR Part 773
Fruits, Loan programs--agriculture.
7 CFR Part 774
Seeds, Loan programs--agriculture.
7 CFR Part 1806
Buildings, Community development, Disaster assistance, Flood
plains, Housing, Loan programs--Housing and Community Development,
Insurance, Loan programs--Agriculture, Real property insurance, Rural
areas.
7 CFR Part 1901
Finance, Historic preservation, Loan Programs--Agriculture, Loan
programs--Housing and community development, Natural resources, Rural
areas.
7 CFR Part 1910
Administrative practice and procedures, Applications, Credit,
Government contracts, Loan programs--Agriculture, Loan programs--
Housing and community development, Low and moderate income housing,
Marital status discrimination, Reporting requirements, Sex
discrimination.
7 CFR Part 1924
Agriculture, Construction management, Construction and repair,
Energy conservation, Housing, Loan programs--Agriculture, Loan
programs--Housing and community development, Low and moderate income
housing.
7 CFR Part 1925
Real property taxes, Taxes.
7 CFR Part 1927
Loan programs--Agriculture, Loan programs--Housing and community
development, Mortgages.
7 CFR Part 1940
Administrative practice and procedure, Agriculture, Allocations,
Grant programs--Housing and community development, Loan programs--
Agriculture, Rural areas.
7 CFR Parts 1941 and 1943
Applicant eligibility, Beginning farmers and ranchers, Loan
programs--agriculture.
7 CFR Part 1950
Accounting, Loan programs--Agriculture, Military personnel.
7 CFR Part 1951
Accounting, Account servicing, Credit, Debt restructuring,
Foreclosure, Government acquired property, Loan programs--Agriculture,
Loan programs--Housing and community development, Low and moderate
income housing loans--Servicing, Mortgages, Rural areas, Sale of
government acquired property, Surplus government property.
7 CFR Part 1955
Foreclosure, Government acquired property, Government property
management, Sale of government acquired property, Surplus government
property.
7 CFR Part 1956
Accounting, Loan programs--Agriculture, Rural areas.
7 CFR Part 1962
Crops, Government property, Livestock, Loan programs--Agriculture,
Rural areas.
7 CFR Part 1965
Foreclosure, Loan programs--Agriculture, Rural areas.
0
Accordingly, 7 CFR Chapters VII and XVIII are amended as follows:
PART 771--BOLL WEEVIL ERADICATION LOAN PROGRAM
0
1. The authority citation for part 771 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; and Pub. L. 104-180, 110
Stat. 1569.
[[Page 64121]]
0
2. Revise the first sentence of Sec. 771.15(c) introductory text to
read as follows:
Sec. 771.15 Loan servicing.
* * * * *
(c) Restructuring. The provisions of 7 CFR part 766 are not
applicable to loans made under this section. * * *
* * * * *
PART 772--SERVICING MINOR PROGRAM LOANS
0
3. The authority citation for part 772 continues to read as follows:
Authority: 5 U.S.C. 301, 7 U.S.C. 1989, 25 U.S.C. 490.
0
4. Revise the second sentence of Sec. 772.9 (b) to read as follows:
Sec. 772.9 Releases.
* * * * *
(b) Borrower liability. * * * IMP borrowers who have had previous
debt forgiveness on a farm loan program loan as defined in 7 CFR part
761, however, cannot be released from liability by FSA until the
previous loss to the Agency has been repaid with interest from the date
of debt forgiveness. * * *
* * * * *
0
5. Revise the first sentence of Sec. 772.11 to read as follows:
Sec. 772.11 Transfer and assumption--IMP loans.
Transfers and assumptions for IMP loans are processed in accordance
with 7 CFR part 765. * * *
0
6. Revise the first sentence of Sec. 772.12 (b)(2) to read as follows:
Sec. 772.12 Graduation.
* * * * *
(b) * * *
(1) * * *
(2) All IMP borrowers classified as ``commercial'' or ``standard''
by the agency must be reviewed at least every 2 years. * * *
* * * * *
0
7. Revise Sec. 772.13 (b) to read as follows:
Sec. 772.12 Delinquent account servicing.
* * * * *
(b) IMP loans. Delinquent IMP borrowers will be serviced according
to 7 CFR part 3, part 766, and part 1951, subpart C, concerning
internal agency offset and referral to the Department of the Treasury
Offset Program and Treasury Cross-Servicing (or successor regulations).
* * * * *
0
8. Revise the second sentence of Sec. 772.16 to read as follows:
Sec. 772.16 Liquidation.
* * * If such a transfer or voluntary sale is not carried out, the
loan will be liquidated according to 7 CFR part 766. * * *
0
9. Revise Sec. 772.17 to read as follows:
Sec. 772.17 Equal opportunity and non-discrimination requirements.
With respect to any aspect of a credit transaction, the Agency will
comply with the requirements of the Equal Credit Opportunity Act and
the Department's civil rights policy in 7 CFR part 15d.
PART 773--SPECIAL APPLE LOAN PROGRAM
0
10. The authority citation for part 773 continues to read as follows:
Authority: Pub. L. 106-224.
0
11. Revise Sec. 773.22 to read as follows:
Sec. 773.22 Loan servicing.
Loans will be serviced as a Non-program loan in accordance with 7
CFR part 766 during the term of the loan. If the loan is not paid in
full during this term, servicing will proceed in accordance with 7 CFR
part 766, subpart H.
PART 774--EMERGENCY LOAN FOR SEED PRODUCERS PROGRAM
0
12. The authority citation for part 774 continues to read as follows:
Authority: Pub. L. 106-224.
0
13. Revise the second sentence of Sec. 774.18(b)(2) to read as
follows:
Sec. 774.18 Interest rate, terms and security requirements.
* * * * *
(b) * * *
(2) * * * If the loan is not paid in full during this time and
default occurs, servicing will proceed in accordance with 7 CFR part
766, subpart H.
* * * * *
0
14. Revise Sec. 774.23 to read as follows:
Sec. 774.23 Loan servicing.
Loans will be serviced as a Non-program loan in accordance with 7
CFR part 766. If the loan is not repaid as agreed and default occurs,
servicing will proceed in accordance with 7 CFR part 766, subpart H.
PART 1806--INSURANCE
0
15. The authority citation for part 1806 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480; 42
U.S.C. 2942.
Subpart A--Real Property Insurance
0
16. Section 1806.1(a) is amended by removing the text ``the Farm Credit
Programs of the Farm Service Agency (FSA) or'' in the first sentence;
and adding a new last sentence to read as follows:
Sec. 1806.1 General.
(a) * * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
* * * * *
Subpart B--National Flood Insurance
0
17. Section 1806.21(a) is amended by revising the last sentence to read
as follows:
Sec. 1806.21 General.
(a) * * * This subpart does not apply to Farm Service Agency, Farm
Loan Programs and to Rural Rental Housing, Rural Cooperative Housing,
or Farm Labor Housing programs of the Rural Housing Service.
* * * * *
PART 1901--PROGRAM-RELATED INSTRUCTIONS
0
18. The authority citation for part 1901 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart F--Procedures for the Protection of Historical and
Archeological Properties
0
19. Section 1901.251 is amended by adding a new last sentence to read
as follows:
Sec. 1901.251 Purpose.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
Subpart K--Certificates of Beneficial Ownership and Insured Notes
0
20. Section 1901.501 is amended by adding a new last sentence to read
as follows:
Sec. 1901.501 Purpose.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
Subpart N [Removed]
0
21. Subpart N is removed and reserved.
PART 1910--GENERAL
0
22. The authority citation for part 1910 continues to read as follows:
[[Page 64122]]
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart A [Removed]
0
23. Subpart A is removed and reserved.
Subpart B--Credit Reports (Individual)
0
24. Amend Sec. 1910.51 by adding a new last sentence to read as
follows:
Sec. 1910.51 Purpose.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
Subpart C--Commercial Credit Reports
0
25. Amend Sec. 1910.101 by adding a new last sentence to read as
follows:
Sec. 1910.101 Preface.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
PART 1924--CONSTRUCTION AND REPAIR
0
26. The authority citation for part 1924 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart A--Planning and Performing Construction and Other
Development
0
27. Section 1924.1 is amended by removing the text ``, insured Farm
Ownership (FO), Soil and Water (SW), Softwood Timber (ST)'' and the
text ``, and Emergency (EM) loans for individuals'' from the first
sentence; and adding a new last sentence to read as follows:
Sec. 1924.1 Purpose
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
Subpart B--[Removed]
0
28. Subpart B is removed and reserved.
PART 1925--TAXES
0
29. The authority citation for part 1925 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart A--Real Estate Tax Servicing
0
30. Section 1925.1 is amended by removing the text ``a Farm Ownership
(FO), Operating Loan (OL), Soil and Water (SW), Recreation Loan (RL),
Emergency (EM), Economic Opportunity (EO),'' and ``Softwood Timber
(ST),'' in the first sentence; and adding a new last sentence to read
as follows:
Sec. 1925.1 General.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
PART 1927--TITLE CLEARANCE AND LOAN CLOSING
0
31. The authority citation for part 1927 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart B--Real Estate Title Clearance and Loan Closing
0
32. Section 1927.51(a) is amended by removing the text ``and Farm
Service Agency (FSA) loans: Farm Ownership (FO), Nonfarm Enterprise
(FO-NFE), Emergency (EM), Operating (OL)'' in the first sentence;
removing the text ``Soil and Water (SW), Indian Land acquisition loan
involving nontrust property,'' in the first sentence; and adding a new
last sentence to read as follows:
Sec. 1927.51 General.
(a) * * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
PART 1940--GENERAL
0
33. The authority citation for part 1940 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart L--Methodology and Formulas for Allocation of Loan and
Grant Program Funds
0
34. Section 1940.551(a) is amended by adding a new last sentence to
read as follows:
Sec. 1940.551 Purpose and general policy.
(a) * * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
* * * * *
Sec. Sec. 1940.555 through 1940.559 [Removed]
0
35. Remove and reserve Sec. Sec. 1940.555 through 1940.559.
PART 1941--[REMOVED]
0
36. Remove and reserve part 1941.
PART 1943--[REMOVED]
0
37. Remove and reserve part 1943.
PART 1950--GENERAL
0
38. The authority citation for part 1950 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart C--Servicing Accounts of Borrowers Entering the Armed
Forces
0
39. Section 1950.101 is amended by adding a new last sentence to read
as follows:
Sec. 1950.101 Purpose.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
PART 1951--SERVICING AND COLLECTIONS
0
40. The authority citation for part 1951 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C 1932 Note; 7 U.S.C. 1989; 31
U.S.C. 3716; 42 U.S.C. 1480.
Subpart A--Account Servicing Policies
0
41. Section 1951.1 is amended by removing the text ``Farmer Program
loans (FP) which include Softwood Timber (ST), Operating Loan (OL),
Farm Ownership (FO), Soil and Water (SW), Recreation Loan (RL),
Emergency Loan (EM), Economic Emergency Loan (EE), Special Livestock
Loan (SL), Economic Opportunity Loan (EO), and Rural Housing Loan for
farm service buildings (RHF)''; and adding a new last sentence to read
as follows:
Sec. 1951.1 Purpose.
* * * In addition, this subpart is inapplicable to Farm Service
Agency, Farm Loan Programs.
Subpart C--Offsets of Federal Payments to USDA Agency Borrowers
0
42. Revise the fourth and fifth sentences of the introductory text of
Sec. 1951.111 and the third sentence of Sec. 1951.111(d)(1) to read
as follows:
Sec. 1951.111 Salary offset.
* * * For delinquent Farm Loan Programs direct loans, salary offset
will not begin until the borrower has been notified of servicing
options in accordance with 7 CFR part 766. In addition, for Farm Loan
Programs direct loans, salary offset will not be instituted if the
Federal salary has been considered on the farm operating plan, and it
was determined the funds were to be used for another purpose other than
payment on the USDA Agency loan. * * *
* * * * *
[[Page 64123]]
(d) * * *
(1) * * * For Farm Loan Programs direct loans, this notice will be
sent after the borrower is over 90 days past due and immediately after
sending notification of servicing rights in accordance with 7 CFR part
766. * * *
* * * * *
Subpart D--Final Payment on Loans
0
43. Section 1951.151 is amended by removing the text ``Farm Service
Agency (FSA),'' in the first sentence; and adding a new last sentence
to read as follows:
Sec. 1951.151 Purpose.
* * * In addition, this subpart is inapplicable to Farm Service
Agency, Farm Loan Programs.
Subpart F--Analyzing Credit Needs and Graduation of Borrowers
0
44. Section 1951.251 is amended by removing the text ``Farm Service
Agency (FSA)'', in the third sentence; and revising the fourth sentence
to read as follows:
Sec. 1951.251 Purpose.
* * * This subpart does not apply to Farm Service Agency, Farm Loan
Programs and to RHS direct single family housing (SFH) customers. * * *
* * * * *
Subparts J, L, S, and T--[Removed]
0
45. Subparts J, L, S, and T are removed and reserved.
PART 1955--PROPERTY MANAGEMENT
0
46. The authority citation for part 1955 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart A--Liquidation of Loans Secured by Real Estate and
Acquisition of Real and Chattel Property
0
47. Section 1955.1 is amended by removing the text ``Farm Credit
programs of the Farm Service Agency (FSA),'' in the second sentence;
and revising the fourth sentence to read as follows:
Sec. 1955.1 Purpose.
* * * This subpart does not apply to Farm Service Agency, Farm Loan
Programs, to RHS single family housing loans, or to CF loans sold
without insurance in the private sector. * * *
* * * * *
Subpart B--Management of Property
0
48. Section 1955.51 is amended by removing the comma immediately
following ``(RBS)'' and adding the word ``and'' in its place; by
removing the text ``, and Farm Service Agency (FSA),'' in the first
sentence of the introductory paragraph; and revising the second
sentence of the introductory paragraph to read as follows:
Sec. 1955.51 Purpose.
* * * This subpart does not apply to Farm Service Agency, Farm Loan
Programs, or to RHS single family housing loans or community program
loans sold without insurance to the private sector. * * *
* * * * *
Subpart C--Disposal of Inventory Property
0
49. Section 1955.101 is amended by revising the fifth sentence to read
as follows:
Sec. 1955.101 Purpose.
* * * This subpart does not apply to Farm Service Agency, Farm Loan
Programs, Single Family Housing (SFH) inventory property, or to the
Rural Rental Housing, Rural Cooperative Housing, and Farm Labor Housing
Programs. * * *
* * * * *
PART 1956--DEBT SETTLEMENT
0
50. The authority citation for part 1956 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 31 U.S.C. 3711; 42
U.S.C. 1480.
Subpart B--Debt Settlement--Farm Loan Programs and Multi-Family
Housing
0
51. Revise the second sentence of the ``debt forgiveness'' definition
in Sec. 1956.54 to read as follows:
Sec. 1956.54 Definitions.
* * * * *
Debt forgiveness. * * * Included, but not limited to, are losses
from a writedown or writeoff under 7 CFR part 766, debt settlement,
after discharge under the provisions of the bankruptcy code, and
associated with release of liability. * * *
* * * * *
PART 1962--PERSONAL PROPERTY
0
52. The authority citation for part 1962 continues to read as follows:
Authority: 5 U.S.C. 301; 7 U.S.C. 1989; 42 U.S.C. 1480.
Subpart A--Servicing and Liquidation of Chattel Security
0
53. Section 1962.1 is amended by adding a new last sentence to read as
follows:
Sec. 1962.1 Purpose.
* * * This subpart is inapplicable to Farm Service Agency, Farm
Loan Programs.
PART 1965--REAL PROPERTY
Subpart A--[Removed]
0
54. Subpart A is removed and reserved.
Dated: November 5, 2007.
Mark Keenum,
Under Secretary for Farm and Foreign Agricultural Services.
Dated: November 2, 2007.
Thomas C. Dorr,
Under Secretary for Rural Development.
[FR Doc. 07-5659 Filed 11-14-07; 8:45 am]
BILLING CODE 3410-05-P
