Annual Guarantee Fee Due Date, 11811-11812 [E8-4288]

Download as PDF 11811 Rules and Regulations Federal Register Vol. 73, No. 44 Wednesday, March 5, 2008 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. Regulatory Flexibility Act The Agency Administrator has determined that this 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 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. DEPARTMENT OF AGRICULTURE Rural Housing Service 7 CFR Part 3565 RIN 0575–AC62 Annual Guarantee Fee Due Date AGENCY: ACTION: Rural Housing Service, USDA. Final rule. SUMMARY: The Rural Housing Service, an Agency under USDA Rural Development, is amending its regulations to change the due date of the annual guarantee fee for the Section 538 Guarantee Rural Rental Housing loans. 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. Effective Date: This rule is effective April 4, 2008. DATES: C.B. Alonso, Guaranteed Rural Rental Housing Program, Multi Family Housing Processing Division, USDA Rural Development, 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. yshivers on PROD1PC62 with RULES FOR FURTHER INFORMATION CONTACT: SUPPLEMENTARY INFORMATION: VerDate Aug<31>2005 14:21 Mar 04, 2008 Jkt 214001 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). Public Comments The Agency received no comments from the publication of the Proposed Rule in the Federal Register on October 4, 2006 [Volume 71 Federal Register 58545–58546]. Paperwork Reduction Act There are no new reporting or recordkeeping requirements associated with this rule. Unfunded Mandates Reform Act This 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 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. PO 00000 Frm 00001 Fmt 4700 Sfmt 4700 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 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 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 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. Rural Development has been charging this fee since the inception of the GRRHP and is authorized under 42 U.S.C. 1490p–2(g) and is authorized under 42 U.S.C. 1490p–2(u) to retain this fee to offset the cost of the guarantee. E:\FR\FM\05MRR1.SGM 05MRR1 11812 Federal Register / Vol. 73, No. 44 / Wednesday, March 5, 2008 / Rules and Regulations List of Subjects in 7 CFR Part 3565 Guaranteed loans, Low and moderate income housing, Surety bonds. I For the reasons set forth in the preamble, Title 7, Chapter XXXV of the Code of Federal Regulations is amended as follows: PART 3565—GUARANTEED RURAL RENTAL HOUSING PROGRAM 1. The authority citation for part 3565 continues to read as follows: I 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: I § 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: February 19, 2008. Russell T. Davis, Administrator, Rural Housing Service. [FR Doc. E8–4288 Filed 3–4–08; 8:45 am] BILLING CODE 3410–XV–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2008–0195; Directorate Identifier 2008–CE–008–AD; Amendment 39–15387; AD 2008–04–15] yshivers on PROD1PC62 with RULES Airworthiness Directives; Cameron Balloons Ltd. Models AX5–42 (S.1), AX5–42 BOLT, AX6–56 (S.1), AX6–56A, AX6–56Z, AX6–56 BOLT, AX7–65 (S.1), AX7–65Z, AX7–65 BOLT, AX7–77 (S.1.), AX7–77A, AX7–77Z, AX7–77 BOLT, AX8–90 (S.1), AX8–90 (S.2), AX8–105 (S.1), AX8–105 (S.2), AX9–120 (S.1), AX9–120 (S.2), AX9–140 (S.2), AX10– 160 (S.1), AX10–160 (S.2), AX10–180 (S.1), AX10–180 (S.2), AX210 (S.2), AX11–225 (S.2), and AX11–250 (S.2) Balloons Federal Aviation Administration (FAA), DOT. ACTION: Final rule; request for comments. AGENCY: 14:21 Mar 04, 2008 Defective inlet self-seal valves have been identified. Detachment of a seal inside the valve could result in partial or complete blockage of the burner supply. On a hopper balloon this failure would result in an uncontrolled descent. In some circumstances this could result in serious injury. This AD requires actions that are intended to address the unsafe condition described in the MCAI. DATES: This AD becomes effective March 25, 2008. On March 25, 2008, the Director of the Federal Register approved the incorporation by reference of certain publications listed in this AD. We must receive comments on this AD by April 4, 2008. ADDRESSES: You may send comments by any of the following methods: • Federal eRulemaking Portal: Go to https://www.regulations.gov. Follow the instructions for submitting comments. • Fax: (202) 493–2251. • Mail: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590. • Hand Delivery: U.S. Department of Transportation, Docket Operations, M– 30, West Building Ground Floor, Room W12–140, 1200 New Jersey Avenue, SE., Washington, DC 20590, between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. Examing the AD Docket RIN 2120–AA64 VerDate Aug<31>2005 SUMMARY: We are adopting a new airworthiness directive (AD) for the products listed above. This AD results from mandatory continuing airworthiness information (MCAI) issued by the aviation authority of another country to identify and correct an unsafe condition on an aviation product. The MCAI describes the unsafe condition as: Jkt 214001 You may examine the AD docket on the Internet at https:// www.regulations.gov; or in person at the Docket Management Facility between 9 a.m. and 5 p.m., Monday through Friday, except Federal holidays. The AD docket contains this AD, the regulatory evaluation, any comments received, and other information. The street address for the Docket Office (telephone (800) 647– 5527) is in the ADDRESSES section. Comments will be available in the AD docket shortly after receipt. FOR FURTHER INFORMATION CONTACT: Taylor Martin, Aerospace Engineer, 901 Locust, Room 301, Kansas City, Missouri 64106; telephone: (816) 329– 4138; fax: (816) 329–4090. SUPPLEMENTARY INFORMATION: PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 Discussion The Civil Aviation Authority, which is the aviation authority for the United Kingdom, has issued AD No: G–2008– 0002, dated January 14, 2008 (referred to after this as ‘‘the MCAI’’), to correct an unsafe condition for the specified products. The MCAI states: Defective inlet self-seal valves have been identified. Detachment of a seal inside the valve could result in partial or complete blockage of the burner supply. On a hopper balloon this failure would result in an uncontrolled descent. In some circumstances this could result in serious injury. The MCAI requires you inspect fuel gas cylinder to identify whether the cylinder liquid valve is from the affected batch of valves and replace any self-seal valve found from the affected batch. You may obtain further information by examining the MCAI in the AD docket. Relevant Service Information Cameron Balloons Ltd. has issued Service Bulletin No. SB16, dated January 8, 2008; and Service Bulletin No. SB17, dated January 8, 2008. The actions described in this service information are intended to correct the unsafe condition identified in the MCAI. FAA’s Determination and Requirements of the AD This product has been approved by the aviation authority of another country, and is approved for operation in the United States. Pursuant to our bilateral agreement with this State of Design Authority, they have notified us of the unsafe condition described in the MCAI and service information referenced above. We are issuing this AD because we evaluated all information provided by the State of Design Authority and determined the unsafe condition exists and is likely to exist or develop on other products of the same type design. This design cylinder liquid valve may also be installed on balloon models of Cameron Balloons USA. The corrective actions in the AD are specified to Cameron Balloons Ltd. Models, for which the United Kingdom is the State of Design. We are currently evaluating other valve installations on Cameron Balloons USA, for which the United States is the State of Design. We are evaluating these other installations and, based on the evaluation, may consider additional rulemaking on this subject. E:\FR\FM\05MRR1.SGM 05MRR1

Agencies

[Federal Register Volume 73, Number 44 (Wednesday, March 5, 2008)]
[Rules and Regulations]
[Pages 11811-11812]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E8-4288]



========================================================================
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. 73, No. 44 / Wednesday, March 5, 2008 / Rules 
and Regulations

[[Page 11811]]



DEPARTMENT OF AGRICULTURE

Rural Housing Service

7 CFR Part 3565

RIN 0575-AC62


Annual Guarantee Fee Due Date

AGENCY: Rural Housing Service, USDA.

ACTION: Final rule.

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

SUMMARY: The Rural Housing Service, an Agency under USDA Rural 
Development, is amending its regulations to change the due date of the 
annual guarantee fee for the Section 538 Guarantee Rural Rental Housing 
loans. 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: Effective Date: This rule is effective April 4, 2008.

FOR FURTHER INFORMATION CONTACT: C.B. Alonso, Guaranteed Rural Rental 
Housing Program, Multi Family Housing Processing Division, USDA Rural 
Development, 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 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 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.

Public Comments

    The Agency received no comments from the publication of the 
Proposed Rule in the Federal Register on October 4, 2006 [Volume 71 
Federal Register 58545-58546].

Paperwork Reduction Act

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

Unfunded Mandates Reform Act

    This 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 
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 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 
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 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. Rural Development has been charging this fee since 
the inception of the GRRHP and is authorized under 42 U.S.C. 1490p-2(g) 
and is authorized under 42 U.S.C. 1490p-2(u) to retain this fee to 
offset the cost of the guarantee.

[[Page 11812]]

List of Subjects in 7 CFR Part 3565

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

0
For the reasons set forth in the preamble, Title 7, Chapter XXXV of the 
Code of Federal Regulations is amended as follows:

PART 3565--GUARANTEED RURAL RENTAL HOUSING PROGRAM

0
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

0
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: February 19, 2008.
Russell T. Davis,
Administrator, Rural Housing Service.
 [FR Doc. E8-4288 Filed 3-4-08; 8:45 am]
BILLING CODE 3410-XV-P