Streamlining Electric Program Procedures, 37059 [2019-15859]
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37059
Rules and Regulations
Federal Register
Vol. 84, No. 147
Wednesday, July 31, 2019
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.
1717.856, which resulted in eliminating
paragraphs (c)(1) through (4) instead of
revising the introductory text only of
paragraph (c). This document corrects
the final regulation to add those
portions that were removed by mistake.
The Code of Federal Regulations is sold by
the Superintendent of Documents.
List of Subject in 7 CFR Part 1717
DEPARTMENT OF AGRICULTURE
Rural Utilities Service
7 CFR Part 1717
RIN 0572–AC40
Streamlining Electric Program
Procedures
Rural Utilities Service, USDA.
ACTION: Correcting amendment.
AGENCY:
The Rural Utilities Service
(RUS or Agency) published a final rule
in the Federal Register on July 9, 2019,
entitled ‘‘Streamlining Electric Program
Procedures,’’ to make revisions to
several regulations to streamline its
procedures for Electric Program
borrowers, including its loan
application requirements, approval of
work plans and load forecasts, use of
approved contracts and system design
procedures. The Agency found an error
in this publication, after the published
rule became effective. This document
will correct the final regulation.
DATES: Effective on July 31, 2019.
FOR FURTHER INFORMATION CONTACT:
Michele Brooks, Team Lead, Rural
Development Innovation Center—
Regulatory Team, USDA, 1400
Independence Avenue SW, Stop 1522,
Room 4266, South Building,
Washington, DC 20250–1522.
Telephone: (202) 690–1078. Email
michele.brooks@wdc.usda.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
Need for Correction
On July 9, 2019 (84 FR 32607), the
Rural Utilities Services (RUS) issued a
final rule entitled ‘‘Streamlining Electric
Program Procedures,’’ to revise several
regulations to streamline its procedures
for Electric Program borrowers,
including its loan application
requirements, approval of work plans
and load forecasts, use of approved
contracts and system design procedures.
Inadvertently, revisions were made to
the entire paragraph (c) of section
VerDate Sep<11>2014
19:26 Jul 30, 2019
Jkt 247001
Administrative practice and
procedure, Electric power, Electric
power rates, Electric Utilities,
Intergovernmental relations,
Investments, Loan program-energy,
Reporting and recordkeeping
requirements, Rural areas.
PART 1717—POST-LOAN POLICIES
AND PROCEDURES COMMON TO
INSURED AND GUARANTEED
ELECTRIC LOANS
1. The authority citation for part 1717
continues to read as follows:
■
Authority: 7 U.S.C. 901 et seq., 1921 et
seq., 6941 et seq.
Subpart R—Lien Accommodations and
Subordinations for 100 Percent Private
Financing
2. Amend § 1717.856 by adding
paragraph (c)(1) through (c)(4), to read
as follows:
■
§ 1717.856 Application contents: Normal
review—100 percent private financing.
*
*
*
*
*
(c) * * *
(1) The borrower is current on all of
its financial obligations and is in
compliance with all requirements of its
mortgage and loan agreement with RUS;
(2) In RUS’s judgment, granting a lien
accommodation or subordination for the
proposed loan will not adversely affect
the repayment and security of
outstanding debt of the borrower owed
to or guaranteed by RUS;
(3) The borrower has achieved the
TIER and DSC and any other coverage
ratios required by its mortgage or loan
contract in each of the two most recent
calendar years; and
(4) The amount of the proposed loan
does not exceed the lesser of $10
million or 10 percent of the borrower’s
current net utility plant;
*
*
*
*
*
Chad Rupe,
Administrator, Rural Utilities Service.
[FR Doc. 2019–15859 Filed 7–30–19; 8:45 am]
BILLING CODE 3410–15–P
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[Federal Register Volume 84, Number 147 (Wednesday, July 31, 2019)]
[Rules and Regulations]
[Page 37059]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2019-15859]
========================================================================
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.
========================================================================
Federal Register / Vol. 84, No. 147 / Wednesday, July 31, 2019 /
Rules and Regulations
[[Page 37059]]
DEPARTMENT OF AGRICULTURE
Rural Utilities Service
7 CFR Part 1717
RIN 0572-AC40
Streamlining Electric Program Procedures
AGENCY: Rural Utilities Service, USDA.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: The Rural Utilities Service (RUS or Agency) published a final
rule in the Federal Register on July 9, 2019, entitled ``Streamlining
Electric Program Procedures,'' to make revisions to several regulations
to streamline its procedures for Electric Program borrowers, including
its loan application requirements, approval of work plans and load
forecasts, use of approved contracts and system design procedures. The
Agency found an error in this publication, after the published rule
became effective. This document will correct the final regulation.
DATES: Effective on July 31, 2019.
FOR FURTHER INFORMATION CONTACT: Michele Brooks, Team Lead, Rural
Development Innovation Center--Regulatory Team, USDA, 1400 Independence
Avenue SW, Stop 1522, Room 4266, South Building, Washington, DC 20250-
1522. Telephone: (202) 690-1078. Email [email protected].
SUPPLEMENTARY INFORMATION:
Need for Correction
On July 9, 2019 (84 FR 32607), the Rural Utilities Services (RUS)
issued a final rule entitled ``Streamlining Electric Program
Procedures,'' to revise several regulations to streamline its
procedures for Electric Program borrowers, including its loan
application requirements, approval of work plans and load forecasts,
use of approved contracts and system design procedures.
Inadvertently, revisions were made to the entire paragraph (c) of
section 1717.856, which resulted in eliminating paragraphs (c)(1)
through (4) instead of revising the introductory text only of paragraph
(c). This document corrects the final regulation to add those portions
that were removed by mistake.
List of Subject in 7 CFR Part 1717
Administrative practice and procedure, Electric power, Electric
power rates, Electric Utilities, Intergovernmental relations,
Investments, Loan program-energy, Reporting and recordkeeping
requirements, Rural areas.
PART 1717--POST-LOAN POLICIES AND PROCEDURES COMMON TO INSURED AND
GUARANTEED ELECTRIC LOANS
0
1. The authority citation for part 1717 continues to read as follows:
Authority: 7 U.S.C. 901 et seq., 1921 et seq., 6941 et seq.
Subpart R--Lien Accommodations and Subordinations for 100 Percent
Private Financing
0
2. Amend Sec. 1717.856 by adding paragraph (c)(1) through (c)(4), to
read as follows:
Sec. 1717.856 Application contents: Normal review--100 percent
private financing.
* * * * *
(c) * * *
(1) The borrower is current on all of its financial obligations and
is in compliance with all requirements of its mortgage and loan
agreement with RUS;
(2) In RUS's judgment, granting a lien accommodation or
subordination for the proposed loan will not adversely affect the
repayment and security of outstanding debt of the borrower owed to or
guaranteed by RUS;
(3) The borrower has achieved the TIER and DSC and any other
coverage ratios required by its mortgage or loan contract in each of
the two most recent calendar years; and
(4) The amount of the proposed loan does not exceed the lesser of
$10 million or 10 percent of the borrower's current net utility plant;
* * * * *
Chad Rupe,
Administrator, Rural Utilities Service.
[FR Doc. 2019-15859 Filed 7-30-19; 8:45 am]
BILLING CODE 3410-15-P
