Rural Development Guaranteed Loans, 9759 [E9-4839]

Agencies

• DEPARTMENT OF AGRICULTURE
• Rural Business-Cooperative Service
• Rural Housing Service
• Rural Utilities Service

[Federal Register Volume 74, Number 43 (Friday, March 6, 2009)]
[Rules and Regulations]
[Page 9759]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-4839]



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Federal Register / Vol. 74, No. 43 / Friday, March 6, 2009 / Rules 
and Regulations

[[Page 9759]]



DEPARTMENT OF AGRICULTURE

Rural Utilities Service

7 CFR Part 1779

Rural Housing Service

7 CFR Part 3575

Rural Business--Cooperative Service

Rural Utilities Service

7 CFR Parts 4279 and 4280

Rural Business--Cooperative Service

Rural Housing Service

Rural Utilities Service

7 CFR Part 5001

[FR Doc. E9-3092]
RIN 0570-AA65


Rural Development Guaranteed Loans

AGENCIES: Rural Business--Cooperative Service, Rural Housing Service, 
Rural Utilities Service, USDA.

ACTION: Interim rule; delay of the effective date.

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SUMMARY: Rural Development is further delaying the effective date of 
the interim rule for Rural Development Guaranteed Loans, which was 
published on December 17, 2008, to June 1, 2009. The interim rule 
establishes a unified guaranteed loan platform for the enhanced 
delivery of four existing Rural Development guaranteed loan programs--
Community Facility; Water and Waste Disposal; Business and Industry; 
and Rural Energy for America Program, formerly known as Renewable 
Energy Systems and Energy Efficiency Improvement Projects.

DATES: The effective date of the interim rule, which was published on 
December 17, 2008 [73 FR 76698], delayed until February 17, 2008 [74 FR 
2823], delayed until March 9, 2009 [74 FR 7179], is further delayed 
until June 1, 2009.

FOR FURTHER INFORMATION CONTACT: Mr. Michael Foore, Rural Development, 
Business and Cooperative Programs, U.S. Department of Agriculture, 1400 
Independence Avenue, SW., Stop 3201, Washington, DC 20250-3201; e-mail: 
Michael.Foore@wdc.usda.gov; telephone (202) 690-4730.

SUPPLEMENTARY INFORMATION: On January 16, 2009, Rural Development 
delayed the original effective date of the interim rule from January 
16, 2009, to February 17, 2009, because there was insufficient time to 
correct a technical error in the interim rule before the interim rule 
became effective on January 16, 2009.
    Subsequently, Rural Development again delayed the effective date of 
the interim rule from February 17, 2009, to March 9, 2009 [74 FR 7179, 
February 13, 2009] allowing for public comments to extend the effective 
date to June 1, 2009. As stated in the Federal Register, Rural 
Development identified several administrative actions, including 
providing the best guidance to its field staff on the interim rule, it 
believed were necessary to occur prior to the February 17, 2009, 
effective date in order to ensure the successful implementation of the 
interim rule. Consequently, Rural Development determined that it was 
necessary to extend the effective date to June 1, 2009, in order to 
provide Rural Development the necessary time to implement these 
administrative actions.
    As noted in the February 13, 2009, Federal Register, Rural 
Development made this change to the effective date, as is provided for 
under the Administrative Procedures Act (5 U.S.C. 553(b)(3)(B)), 
because:
    1. Implementing the interim rule on February 17, 2009, would have 
created substantial legal and operation risks to the affected programs 
because the rule contains certain flaws that must be corrected and 
would not have provided the Agency sufficient time to properly train 
field staff and make changes to IT systems critical to the 
implementation of these programs. These actions could not have been 
completed by February 17, 2009.
    2. The two week extension would allow the public a reasonable 
opportunity to comment on this proposed extension of the effective date 
to June 1, 2009, and the Agency to consider such comments before making 
the decision to make such extension.
    3. Extending the effective date to June 1, 2009, allows the Agency 
to finish the 60-day review described in the January 20, 2009, memo 
from the Assistant to the President and Chief of Staff, entitled 
``Regulatory Review.''
    The public comment period on the Agency's proposed June 1, 2009, 
effective date closed on February 20, 2009. The Agency received three 
comment letters on the proposed extension of the effective date. None 
of the commenters suggested that the interim rule become effective 
prior to June 1, 2009. Two of the three commenters also submitted 
comments during the public comment period on the interim rule. Because 
the comments submitted by these commenters, address issues that are 
very similar to those included in comments submitted during the public 
comment period for the interim rule, the Agency will consider these 
issues when it considers the comments on the interim rule. Therefore, 
the effective of the interim rule is extended to June 1, 2009.

    Dated: March 3, 2009.
William F. Hagy III,
Acting Deputy Under Secretary, Rural Development.
[FR Doc. E9-4839 Filed 3-5-09; 8:45 am]
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