Surety Bond Guarantee Program Fees, 36658-36659 [2018-16202]

Download as PDF 36658 Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices as the Framework owner and would make the ROO responsible to the ICC President for the successful operation and maintenance of the Framework. The Framework would also designate certain responsibilities to ICC’s CRO and the Risk Committee. The Commission believes that in doing so the Framework would allow ICC to establish clear and transparent arrangements for governing the Framework and its model validation procedures. The Commission further believes that these same arrangements would contribute to ICC’s fulfilling the public interest requirements in Section 17A of the Act 40 applicable to clearing agencies, and the objectives of owners and participants. Finally, the Commission believes that these procedures and arrangements would promote the effectiveness of ICC’s risk management procedures by clarifying the process for, and responsibilities associated with, using the Framework to improve ICC’s risk management system. Therefore, for the above reasons the Commission finds that the proposed rule change is consistent with Rule 17Ad–22(d)(8).41 IV. Conclusion On the basis of the foregoing, the Commission finds that the proposal is consistent with the requirements of the Act, and in particular, with the requirements of Section 17A(b)(3)(F) of the Act 42 and Rules 17Ad–22(b)(2), 17Ad–22(b)(3), 17Ad–22(b)(4), and 17Ad–22(d)(8) thereunder.43 It is therefore ordered pursuant to Section 19(b)(2) of the Act 44 that the proposed rule change (SR–ICC–2018– 004) be, and hereby is, approved.45 For the Commission, by the Division of Trading and Markets, pursuant to delegated authority.46 Eduardo A. Aleman, Assistant Secretary. [FR Doc. 2018–16164 Filed 7–27–18; 8:45 am] BILLING CODE 8011–01–P SMALL BUSINESS ADMINISTRATION [License No. 03/03–0249] Argosy Investment Partners IV, L.P.; Notice Seeking Exemption Under the Small Business Investment Act, Conflicts of Interest Notice is hereby given that Argosy Investment Partners IV, L.P., 950 West Valley Road, Suite 2900, Wayne, PA 19087, a Federal Licensee under the Small Business Investment Act of 1958, as amended (‘‘the Act’’), in connection with the financing of a small concern, has sought an exemption under Section 312 of the Act and Section 107.730, Financings which Constitute Conflicts of Interest of the Small Business Administration (‘‘SBA’’) Rules and Regulations (13 CFR 107.730). Argosy Investment Partners IV, L.P. is seeking post-financing approval from SBA for loan and equity financings it made to POSC Holdings LLC, formerly known as Panhandle Oilfield Service Companies, Inc., 14000 Quail Springs Parkway, Suite 300, Oklahoma City, OK 73134. The financing is brought within the purview of § 107.730(a)(1) of the Regulations because Argosy Investment Partners V, L.P., an Associate of Argosy Investment Partners IV, L.P., owns more than ten percent of POSC Holdings LLC, and therefore this transaction is considered Financing an Associate requiring prior SBA approval. Argosy Investment Partners IV, L.P. has already made its investments in POSC Holdings LLC and is seeking post-financing SBA approval. Notice is hereby given that any interested person may submit written comments on this transaction within fifteen days of the date of this publication to the Associate Administrator, Office of Investment and Innovation, U.S. Small Business Administration, 409 Third Street SW, Washington, DC 20416. A. Joseph Shepard, Associate Administrator for Office of Investment and Innovation. [FR Doc. 2018–16206 Filed 7–27–18; 8:45 am] BILLING CODE P SMALL BUSINESS ADMINISTRATION daltland on DSKBBV9HB2PROD with NOTICES 40 15 U.S.C. 78q–1. 41 17 CFR 240.17Ad–22(d)(8). 42 15 U.S.C. 78q–1(b)(3)(F). 43 17 CFR 240.17Ad–22(b)(2)–(4), (d)(8). 44 15 U.S.C. 78s(b)(2). 45 In approving the proposed rule change, the Commission considered the proposal’s impact on efficiency, competition, and capital formation. 15 U.S.C. 78c(f). 46 17 CFR 200.30–3(a)(12). VerDate Sep<11>2014 20:33 Jul 27, 2018 Jkt 244001 [Docket No.: SBA–2018–0007] Surety Bond Guarantee Program Fees U.S. Small Business Administration. ACTION: Notification of temporary initiative to test lower fees; request for public comments. AGENCY: PO 00000 Frm 00146 Fmt 4703 Sfmt 4703 This document announces a temporary decrease in the guarantee fees that the U.S. Small Business Administration (SBA) charges all Surety companies and Principals on each guaranteed bond (other than a bid bond) issued in SBA’s Surety Bond Guarantee (SBG) Program. DATES: Applicability Date: The fee decreases described in this document will apply to all SBA surety bond guarantees approved during the one year period beginning October 1, 2018 and ending September 30, 2019. Comment Date: SBA must receive comments on or before August 29, 2018. ADDRESSES: You may submit comments, identified by Docket No. SBA–2018– 0007, by any of the following methods: (1) Federal eRulemaking Portal: https:// www.regulations.gov, following the instructions for submitting comments; or (2) Mail/Hand Delivery/Courier: Jermanne Perry, Surety Bond Specialist, U.S. Small Business Administration, Office of Surety Guarantees, 409 Third Street SW, Suite 8600, Washington, DC 20416. SBA will post all comments on www.regulations.gov. If you wish to submit confidential business information (CBI) as defined in the User Notice at www.regulations.gov, you must submit such information to U.S. Small Business Administration, Jermanne Perry, Office of Surety Guarantees, 409 Third Street SW, Washington, DC 20416 or send an email to jermanne.perry@sba.gov. Highlight the information that you consider to be CBI and explain why you believe SBA should hold this information as confidential. SBA will review your information and determine whether it will make the information public. FOR FURTHER INFORMATION CONTACT: Jermanne Perry, Surety Bond Specialist, Office of Surety Guarantees, (202) 401– 8275; jermanne.perry@sba.gov. SUPPLEMENTARY INFORMATION: Under its SBG Program, the SBA guarantees bid, payment and performance bonds for small and emerging contractors who cannot obtain surety bonds through regular commercial channels. SBA’s guarantee gives Sureties an incentive to provide bonding for small businesses and, thereby, assists small businesses in obtaining greater access to contracting opportunities. SBA’s guarantee is an agreement between a Surety and SBA that SBA will assume a certain percentage of the Surety’s loss should a contractor default on the underlying contract. Pursuant to its statutory authority ‘‘to establish such fee or fees for small business concerns and SUMMARY: E:\FR\FM\30JYN1.SGM 30JYN1 daltland on DSKBBV9HB2PROD with NOTICES Federal Register / Vol. 83, No. 146 / Monday, July 30, 2018 / Notices premium or premiums for sureties as it deems reasonable and necessary,’’ and to administer the SBG Program ‘‘on a prudent and economically justifiable basis,’’ 15 U.S.C. 694b(h), SBA assesses a guarantee fee against both the small business concern (the Principal) and the Surety and deposits these fees into a revolving fund to cover the program’s liabilities and certain program expenses. SBA last changed the fees over 12 years ago when the fee charged to the Sureties was increased from 20% to 26% of the bond premium and the fee charged to Principals increased from $6.00 per thousand dollars of the contract amount to $7.29 per thousand dollars of the contract amount. Those fees have been in effect since April 3, 2006. At that time, SBA determined that the program’s revolving fund was insufficient to cover projected, unfunded liabilities. See 71 FR 9632 (February 24, 2006). SBA increased the guarantee fees to address the projected deficiency. Over the past 12 years, with the increased fee amounts, the revolving fund has accumulated sufficient funds to support the program. SBA’s rules provide that the amount of the fees to be paid by the Surety and the Principal ‘‘will be determined by SBA and published in Notices in the Federal Register from time to time.’’ See 13 CFR 115.32(b) and (c) and 115.66. The purpose of this document is to announce that, for the one year period beginning October 1, 2018, the Surety fee will decrease from 26% of the bond premium to 20% of the bond premium and the Principal fee will decrease from $7.29 per thousand dollars of the contract amount to $6 per thousand dollars of the contract amount. As indicated above, the decreases in the fees are temporary and will be in effect for guaranteed bonds approved during the one year period beginning October 1, 2018, and ending September 30, 2019. During the year, SBA will evaluate whether the lower fees will result in an increase in the bond activity level of the SBG Program and, if so, whether any such increased level of activity will generate sufficient revenues to offset the reduced fee amounts. After carefully reviewing program performance during the year, SBA will determine whether the guarantee fees should remain at these new amounts or if they should revert to the higher amounts or otherwise be changed. SBA invites public comments on the above stated fee decreases. Please clearly identify paper and electronic comments as ‘‘Public Comments on Fee Decreases under the SBG Program Docket No. SBA–2018–0007’’ and submit them by one of the methods VerDate Sep<11>2014 20:33 Jul 27, 2018 Jkt 244001 identified in the ADDRESSES section of this document. SBA will consider the comments and determine whether any revisions are necessary. Authority: 13 CFR 115.32(b) and (c) and 115.66. 36659 Administration, 409 Third Street SW, Washington, DC 20416. A. Joseph Shepard, Associate Administrator for Office of Investment and Innovation. [FR Doc. 2018–16205 Filed 7–27–18; 8:45 am] Dated: July 23, 2018. William Manger, Associate Administrator, Office of Capital Access. BILLING CODE P [FR Doc. 2018–16202 Filed 7–27–18; 8:45 am] [Public Notice: 10479] BILLING CODE 8025–01–P SMALL BUSINESS ADMINISTRATION [License No. 03/03–0263] Notice is hereby given that Argosy Investment Partners V, L.P., 950 West Valley Road, Suite 2900, Wayne, PA 19087, a Federal Licensee under the Small Business Investment Act of 1958, as amended (‘‘the Act’’), in connection with the financing of a small concern, has sought an exemption under Section 312 of the Act and Section 107.730, Financings which Constitute Conflicts of Interest of the Small Business Administration (‘‘SBA’’) Rules and Regulations (13 CFR 107.730). Argosy Investment Partners V, L.P. is seeking post-financing approval from SBA for loan and equity financings it made to POSC Holdings LLC, formerly known as Panhandle Oilfield Service Companies, Inc., 14000 Quail Springs Parkway, Suite 300, Oklahoma City, OK 73134. The financing is brought within the purview of § 107.730(a)(1) of the Regulations because Argosy Investment Partners IV, L.P., an Associate of Argosy Investment Partners V, L.P., owns more than ten percent of POSC Holdings LLC, and therefore this transaction is considered Financing an Associate requiring prior SBA approval. Argosy Investment Partners V, L.P. has already made its investments in POSC Holdings LLC and is seeking post-financing SBA approval. Notice is hereby given that any interested person may submit written comments on this transaction within fifteen days of the date of this publication to the Associate Administrator, Office of Investment and Innovation, U.S. Small Business Frm 00147 Fmt 4703 Sfmt 4703 Notice of Availability of the Draft Environmental Assessment for the Proposed Keystone XL Pipeline Mainline Alternative Route in Nebraska Notice of availability; solicitation of comments. ACTION: Argosy Investment Partners V, L.P.; Notice Seeking Exemption Under the Small Business Investment Act, Conflicts of Interest PO 00000 DEPARTMENT OF STATE The U.S. Department of State (Department) announces the availability of the Draft Environmental Assessment (Draft EA) for the Proposed Keystone XL Pipeline Mainline Alternative Route in Nebraska for public review and comment. The Draft EA evaluates the potential environmental impacts of the proposed Keystone XL Mainline Alternative Route —consistent with the National Environmental Policy Act of 1969— in support of the Bureau of Land Management’s (BLM) review of TransCanada Keystone Pipeline, L.P.’s (TransCanada) application for a right-ofway. DATES: The public comment period ends on August 29, 2018. ADDRESSES: Comments may be submitted at https:// www.regulations.gov by entering the title of this Notice or Docket Number: DOS–2018–0031 into the search field, and then following the prompts. FOR FURTHER INFORMATION CONTACT: The Draft EA, along with detailed records on the proposed project and general information about the Presidential permit process, are available at: https:// keystonepipeline-xl.state.gov. Marko Velikonja, Office of Environmental Quality and Transboundary Issues, (202) 647–4828, VelikonjaMG@state.gov. SUPPLEMENTARY INFORMATION: On January 26, 2017, TransCanada resubmitted its Presidential permit application for the proposed Keystone XL pipeline. On March 23, 2017, the Under Secretary of State for Political Affairs determined that issuance of a Presidential permit to TransCanada to construct, connect, operate, and maintain at the border of the United States pipeline facilities to transport crude oil from Canada to the United States would serve the national interest. SUMMARY: E:\FR\FM\30JYN1.SGM 30JYN1

Agencies

[Federal Register Volume 83, Number 146 (Monday, July 30, 2018)]
[Notices]
[Pages 36658-36659]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2018-16202]


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

SMALL BUSINESS ADMINISTRATION

[Docket No.: SBA-2018-0007]


Surety Bond Guarantee Program Fees

AGENCY: U.S. Small Business Administration.

ACTION: Notification of temporary initiative to test lower fees; 
request for public comments.

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

SUMMARY: This document announces a temporary decrease in the guarantee 
fees that the U.S. Small Business Administration (SBA) charges all 
Surety companies and Principals on each guaranteed bond (other than a 
bid bond) issued in SBA's Surety Bond Guarantee (SBG) Program.

DATES: 
    Applicability Date: The fee decreases described in this document 
will apply to all SBA surety bond guarantees approved during the one 
year period beginning October 1, 2018 and ending September 30, 2019.
    Comment Date: SBA must receive comments on or before August 29, 
2018.

ADDRESSES: You may submit comments, identified by Docket No. SBA-2018-
0007, by any of the following methods: (1) Federal eRulemaking Portal: 
https://www.regulations.gov, following the instructions for submitting 
comments; or (2) Mail/Hand Delivery/Courier: Jermanne Perry, Surety 
Bond Specialist, U.S. Small Business Administration, Office of Surety 
Guarantees, 409 Third Street SW, Suite 8600, Washington, DC 20416.
    SBA will post all comments on www.regulations.gov. If you wish to 
submit confidential business information (CBI) as defined in the User 
Notice at www.regulations.gov, you must submit such information to U.S. 
Small Business Administration, Jermanne Perry, Office of Surety 
Guarantees, 409 Third Street SW, Washington, DC 20416 or send an email 
to [email protected]. Highlight the information that you consider 
to be CBI and explain why you believe SBA should hold this information 
as confidential. SBA will review your information and determine whether 
it will make the information public.

FOR FURTHER INFORMATION CONTACT: Jermanne Perry, Surety Bond 
Specialist, Office of Surety Guarantees, (202) 401-8275; 
[email protected].

SUPPLEMENTARY INFORMATION: Under its SBG Program, the SBA guarantees 
bid, payment and performance bonds for small and emerging contractors 
who cannot obtain surety bonds through regular commercial channels. 
SBA's guarantee gives Sureties an incentive to provide bonding for 
small businesses and, thereby, assists small businesses in obtaining 
greater access to contracting opportunities. SBA's guarantee is an 
agreement between a Surety and SBA that SBA will assume a certain 
percentage of the Surety's loss should a contractor default on the 
underlying contract. Pursuant to its statutory authority ``to establish 
such fee or fees for small business concerns and

[[Page 36659]]

premium or premiums for sureties as it deems reasonable and 
necessary,'' and to administer the SBG Program ``on a prudent and 
economically justifiable basis,'' 15 U.S.C. 694b(h), SBA assesses a 
guarantee fee against both the small business concern (the Principal) 
and the Surety and deposits these fees into a revolving fund to cover 
the program's liabilities and certain program expenses.
    SBA last changed the fees over 12 years ago when the fee charged to 
the Sureties was increased from 20% to 26% of the bond premium and the 
fee charged to Principals increased from $6.00 per thousand dollars of 
the contract amount to $7.29 per thousand dollars of the contract 
amount. Those fees have been in effect since April 3, 2006. At that 
time, SBA determined that the program's revolving fund was insufficient 
to cover projected, unfunded liabilities. See 71 FR 9632 (February 24, 
2006). SBA increased the guarantee fees to address the projected 
deficiency. Over the past 12 years, with the increased fee amounts, the 
revolving fund has accumulated sufficient funds to support the program.
    SBA's rules provide that the amount of the fees to be paid by the 
Surety and the Principal ``will be determined by SBA and published in 
Notices in the Federal Register from time to time.'' See 13 CFR 
115.32(b) and (c) and 115.66. The purpose of this document is to 
announce that, for the one year period beginning October 1, 2018, the 
Surety fee will decrease from 26% of the bond premium to 20% of the 
bond premium and the Principal fee will decrease from $7.29 per 
thousand dollars of the contract amount to $6 per thousand dollars of 
the contract amount.
    As indicated above, the decreases in the fees are temporary and 
will be in effect for guaranteed bonds approved during the one year 
period beginning October 1, 2018, and ending September 30, 2019. During 
the year, SBA will evaluate whether the lower fees will result in an 
increase in the bond activity level of the SBG Program and, if so, 
whether any such increased level of activity will generate sufficient 
revenues to offset the reduced fee amounts. After carefully reviewing 
program performance during the year, SBA will determine whether the 
guarantee fees should remain at these new amounts or if they should 
revert to the higher amounts or otherwise be changed.
    SBA invites public comments on the above stated fee decreases. 
Please clearly identify paper and electronic comments as ``Public 
Comments on Fee Decreases under the SBG Program Docket No. SBA-2018-
0007'' and submit them by one of the methods identified in the 
ADDRESSES section of this document. SBA will consider the comments and 
determine whether any revisions are necessary.

    Authority: 13 CFR 115.32(b) and (c) and 115.66.

    Dated: July 23, 2018.
William Manger,
Associate Administrator, Office of Capital Access.
[FR Doc. 2018-16202 Filed 7-27-18; 8:45 am]
BILLING CODE 8025-01-P
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