Regulatory Reform Initiative: Disaster Loan Program, 12862-12864 [2020-03657]

Download as PDF 12862 Federal Register / Vol. 85, No. 44 / Thursday, March 5, 2020 / Rules and Regulations System. Amendment No. 8 revised the technical specifications to delete Technical Specification A5.6 and revised the maximum pellet diameter in the technical specifications, Appendix B, Table B2–3, from 0.325 inches to 0.3255 inches for the CE16H1 hybrid fuel assembly, which includes Combustion Engineering 16 x 16 fuel assemblies. In the direct final rule, the NRC stated that if no significant adverse comments were received, the direct final rule would become effective on March 24, 2020. The NRC did not receive any comments on the direct final rule. Therefore, this direct final rule will become effective as scheduled. Dated at Rockville, Maryland, this 14th day of February 2020. For the Nuclear Regulatory Commission. Cindy K. Bladey, Chief, Regulatory Analysis and Rulemaking Support Branch, Division of Rulemaking, Envionmental and Financial Support, Office of Nuclear Material Safety and Safeguards. [FR Doc. 2020–03947 Filed 3–4–20; 8:45 am] BILLING CODE 7590–01–P SMALL BUSINESS ADMINISTRATION 13 CFR Part 123 I. Background Information RIN 3245–AH12 Regulatory Reform Initiative: Disaster Loan Program U. S. Small Business Administration. ACTION: Direct final rule. AGENCY: The U.S. Small Business Administration (SBA) is removing from the Code of Federal Regulations (CFR) 20 regulations that are no longer necessary because the programs they govern are no longer in effect. The rule will remove all regulations applicable to two subparts: Pre-Disaster Mitigation Loans and Economic Injury Disaster Loans as a Result of the September 11, 2001 Terrorist Attacks. The removal of these regulations will assist the public by simplifying SBA’s regulations in the CFR. DATES: This rule is effective on June 3, 2020 without further action, unless significant adverse comment is received by May 4, 2020. If significant adverse comment is received, SBA will publish a timely withdrawal of the rule in the Federal Register. ADDRESSES: You may submit comments, identified by RIN: 3245–AH12 by any of the following methods: khammond on DSKJM1Z7X2PROD with RULES SUMMARY: VerDate Sep<11>2014 15:45 Mar 04, 2020 • Federal eRulemaking Portal: https:// www.regulations.gov. Follow the instructions for submitting comments. • Mail or Hand Delivery/Courier: Jerome Edwards, Director, Program Policy and Evaluation, Office of Disaster Assistance, Small Business Administration, 409 Third Street SW, Washington, DC 20416. SBA will post all comments on https:// www.regulations.gov. If you wish to submit confidential business information (CBI), as defined in the User Notice at https://www.regulations.gov, please submit the information to Jerome Edwards, Director, Program Policy and Evaluation, Office of Disaster Assistance, Small Business Administration, 409 Third Street SW, Washington, DC 20416, or send an email to jerome.edwards@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 the information and make the final determination on whether it will publish the information. FOR FURTHER INFORMATION CONTACT: Jerome Edwards, Director, Program Policy and Evaluation, (202) 205–6734, jerome.edwards@sba.gov. SUPPLEMENTARY INFORMATION: Jkt 250001 A. Pre-Disaster Mitigation Loans, Part 123, Subpart E Pre-disaster mitigation loans were authorized by Congress in 1999 to encourage disaster preparedness rather than reliance on response and recovery. The program was authorized for five fiscal years (2000–2004). During that time, SBA made four loans under the program. SBA published regulations implementing the Pre-Disaster Mitigation Loan program on October 7, 2002 (67 FR 62337). SBA is now removing those regulations as the program is no longer authorized. B. Economic Injury Disaster Loans as a Result of the September 11, 2001 Terrorist Attacks, Part 123, Subpart G In response to the September 11, 2001, terrorist attacks, SBA published regulations authorizing economic injury disaster loans outside the declared disaster areas to small businesses that suffered economic injury as a direct result of the attacks or any related Federal action following the attacks. The rule, published on October 22, 2001 (66 FR 53331), outlined the eligibility criteria and loan terms. On June 24, 2002, SBA extended the deadline for businesses to apply for the loans from May 22, 2002 to September 30, 2002 (67 PO 00000 Frm 00004 Fmt 4700 Sfmt 4700 FR 42594). SBA made 4,996 loans under the program. SBA is now removing these regulations as they are now obsolete. C. Executive Order 13771 On January 30, 2017, President Trump signed Executive Order 13771, Reducing Regulation and Controlling Regulatory Costs, which, among other objectives, is intended to ensure that an agency’s regulatory costs are prudently managed and controlled so as to minimize the compliance burden imposed on the public. For every new regulation an agency proposes to implement, unless prohibited by law, this Executive order requires the agency to (i) identify at least two existing regulations that the agency can cancel; and (ii) use the cost savings from the cancelled regulations to offset the cost of the new regulation. D. Executive Order 13777 On February 24, 2017, the President issued Executive Order 13777, Enforcing the Regulatory Reform Agenda, which further emphasized the goal of the Administration to alleviate the regulatory burdens placed on the public. Under Executive Order 13777, agencies must evaluate their existing regulations to determine which ones should be repealed, replaced, or modified. In doing so, agencies should focus on identifying regulations that, among other things: Eliminate jobs or inhibit job creation; are outdated, unnecessary or ineffective; impose costs that exceed benefits; create a serious inconsistency or otherwise interfere with regulatory reform initiatives and policies; or are associated with Executive orders or other Presidential directives that have been rescinded or substantially modified. SBA has engaged in this process and has identified the regulations in this rulemaking as appropriate for removal in accordance with Executive Order 13777. II. Section by Section Analysis A. Pre-Disaster Mitigation Loans, Part 123, Subpart E SBA is removing subpart E from part 123 of SBA’s regulations because the regulations are no longer necessary. The regulations at 13 CFR 123.400 through 123.412 describe eligibility requirements, allowable uses of proceeds, loan terms, and application procedures for Pre-Disaster Mitigation Loans. Specifically, the provisions to be removed are: (1) § 123.400 What is the Pre-Disaster Mitigation Loan Program?; (2) § 123.401 What types of mitigation measures can your business include in E:\FR\FM\05MRR1.SGM 05MRR1 Federal Register / Vol. 85, No. 44 / Thursday, March 5, 2020 / Rules and Regulations khammond on DSKJM1Z7X2PROD with RULES an application for a pre-disaster mitigation loan?; (3) § 123.402 Can your business include its relocation as a mitigation measure in an application for a pre-disaster mitigation loan?; (4) § 123.403 When is your business eligible to apply for a pre-disaster mitigation loan?; (5) § 123.404 When is your business ineligible to apply for a predisaster mitigation loan?; (6) § 123.405 How much can your business borrow with a pre-disaster mitigation loan?; (7) § 123.406 What is the interest rate on a pre-disaster mitigation loan?; (8) § 123.407 When does your business apply for a pre-disaster mitigation loan and where does your business get an application?; (9) § 123.408 How does your business apply for a pre-disaster mitigation loan?; (10) § 123.409 Which pre-disaster mitigation loan requests will SBA consider for funding?; (11) § 123.410 Which loan requests will SBA fund?; (12) § 123.411 What if SBA determines that your business loan request meets the selection criteria of § 123.409 but SBA is unable to fund it because SBA has already allocated all program funds?; and (13) § 123.412 What happens if SBA declines your business’ pre-disaster mitigation loan request? The statutory authority for PreDisaster Mitigation Loans expired in 2004; therefore, SBA is no longer making these loans. There are no outstanding loans. B. Economic Injury Disaster Loans as a Result of the September 11, 2001 Terrorist Attacks, Part 123, Subpart G SBA is also removing subpart G from part 123 of SBA’s regulations because the regulations are no longer necessary. The regulations at 13 CFR 123.600 through 123.606 describe eligibility requirements, allowable uses of proceeds, loan terms, and application procedures for economic injury disaster loans made under Subpart G. Specifically, the provisions to be removed are: (1) § 123.600 Are economic injury disaster loans under this subpart limited to the geographic areas contiguous to the declared disaster areas?; (2) § 123.601 Is my business eligible to apply for an economic injury disaster loan under this subpart?; (3) § 123.602 When would my business not be eligible to apply for an economic injury disaster loan under this subpart?; (4) § 123.603 What is the interest rate on an economic injury disaster loan under this subpart?; (5) § 123.604 How can my business spend my economic injury disaster loan under this subpart?; (6) § 123.605 How long do I have to apply for a loan under this subpart?; and (7) § 123.606 May I request an increase in VerDate Sep<11>2014 15:45 Mar 04, 2020 Jkt 250001 the amount of an economic injury disaster loan under this subpart? This loan program was intended to specifically address the unique injury caused by the September 11, 2001 terrorist attacks. Since the deadline for businesses to apply for the loans was September 30, 2002 (67 FR 42594), SBA is no longer making these loans. Therefore, the regulations are no longer necessary. There are approximately 478 outstanding loans; existing borrowers can refer to their loan documents for information on loan terms. C. Conforming Amendment SBA is removing regulatory text that cross-references the regulations being removed by this rule. Specifically, this conforming change removes the text in § 123.21 that references pre-disaster mitigation loans. D. Administrative Procedure Act— Direct Final Rule SBA is publishing this rule as a direct final rule because SBA views this action as a non-controversial administrative action that relates solely to expired SBA programs. This rule will be effective on the date shown in the DATES section unless SBA receives any significant adverse comments on or before the deadline for comments set forth in the DATES section. Significant adverse comments are comments that SBA determines provide strong justifications for why the rule should not be adopted or for changing the rule. If SBA receives any significant adverse comments, SBA will publish a document in the Federal Register withdrawing this rule before the effective date. III. Compliance With Executive Orders 12866, 13771, 12988, and 13132, the Paperwork Reduction Act (44 U.S.C., Ch. 35), and the Regulatory Flexibility Act (5 U.S.C. 601–612) A. Executive Order 12866 The Office of Management and Budget (OMB) has determined that this rule does not constitute a significant regulatory action for purposes of Executive Order 12866 and is not a major rule under the Congressional Review Act, 5 U.S.C. 801, et seq. B. Executive Order 13771 This direct final rule is an Executive Order 13771 deregulatory action with an annualized net savings of $45,245 and a net present value of $646,355, both in 2016 dollars. This rule will remove information, which will save potential applicants time in reading and inquiring about these obsolete programs and reduce confusion around whether applications are being accepted. PO 00000 Frm 00005 Fmt 4700 Sfmt 4700 12863 Approximately 109,131 applicants apply for SBA disaster assistance loans per year on average, based on data from 2014–2018. These calculations assume 3% of disaster loan applicants read the regulations per year (or approximately 3,300 applicants) and that the removal of these obsolete regulations would save each applicant 30 minutes of time otherwise spent reviewing or inquiring about non-existent programs. This time is valued at $28.80 per hour—the median wage of a full-time working adult based on 2018 Bureau of Labor Statistics (BLS) data, adding 30% more for benefits. The removal of these regulations produces a total savings per year of $47,145 in current dollars. C. Executive Order 12988 This action meets applicable standards set forth in Sections 3(a) and 3(b)(2) of Executive Order 12988, Civil Justice Reform, to minimize litigation, eliminate ambiguity, and reduce burden. The action does not have retroactive or preemptive effect. D. Executive Order 13132 This rule does not have federalism implications as defined in Executive Order 13132. It will not have substantial direct effects 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, as specified in the Executive order. As such it does not warrant the preparation of a Federalism Assessment. E. Paperwork Reduction Act The SBA has determined that this final rule does not affect any existing collection of information. F. Regulatory Flexibility Act When an agency issues a rule, the Regulatory Flexibility Act (RFA) requires the agency to prepare a final regulatory flexibility analysis (FRFA), which describes whether the rule will have a significant economic impact on a substantial number of small entities. However, Section 605 of the RFA allows an agency to certify a rule, in lieu of preparing a FRFA, if the rulemaking is not expected to have a significant economic impact on a substantial number of small entities. This direct final rule is removing descriptions of obsolete programs in the current regulations, which will reduce confusion and the time required to read and/or inquire about obsolete programs. Approximately 109,131 applicants apply for SBA disaster assistance loans per year, on average based on data from E:\FR\FM\05MRR1.SGM 05MRR1 12864 Federal Register / Vol. 85, No. 44 / Thursday, March 5, 2020 / Rules and Regulations 2014–2018. The net savings to potential disaster loan applicants is $47,145 per year in current dollars, or less than a dollar per applicant. Therefore, SBA hereby certifies that this rule will not have a significant economic impact on a substantial number of small entities. List of Subjects in 13 CFR Part 123 Disaster assistance, Loan programsbusiness, Small businesses, Terrorism. Accordingly, for the reasons stated in the preamble, SBA is amending 13 CFR part 123 as follows: PART 123—DISASTER LOAN PROGRAM 1. The authority citation for part 123 is revised to read as follows: ■ Authority: 15 U.S.C. 632, 634(b)(6), 636(b), 636(d), and 657n. § 123.21 [Amended] 2. Amend § 123.21 by removing the last sentence. ■ Subpart E—[Removed and Reserved] 3. Remove and reserve subpart E, consisting of §§ 123.400 through 123.412. ■ Subpart G—[Removed and Reserved] 4. Remove and reserve subpart G, consisting of §§ 123.600 through 123.606. ■ Dated: February 11, 2020. Jovita Carranza, Administrator. [FR Doc. 2020–03657 Filed 3–4–20; 8:45 am] DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 25 [Docket No. FAA–2019–0329; Special Conditions No. 25–760–SC] Special Conditions: The Boeing Company (Boeing) Model 777–9 Series Airplane; Interior Design To Facilitate Searches Above Passenger Cabin High Wall Suites Federal Aviation Administration (FAA), DOT. ACTION: Final special conditions. khammond on DSKJM1Z7X2PROD with RULES AGENCY: These special conditions are issued for The Boeing Company (Boeing) Model 777–9 series airplane. This airplane will have novel or unusual design features when compared VerDate Sep<11>2014 15:45 Mar 04, 2020 Jkt 250001 Background On April 24, 2018, Boeing applied for an amendment to Type Certificate No. T00001SE to include the new Model 777–9 series airplane. The Boeing Model 777–9 series airplane, which is a derivative of the 777–300ER currently approved under Type Certificate No. T00001SE, is a twin-engine, transport category airplane with seating for up to 495 passengers depending upon airplane configuration, and a maximum takeoff weight of approximately 775,000 lbs. Type Certification Basis BILLING CODE 8025–01–P SUMMARY: to the state of technology envisioned in the airworthiness standards for transport category airplanes. These design features are passenger cabins with high wall suites (HWS). The applicable airworthiness regulations do not contain adequate or appropriate safety standards for this design feature. These special conditions contain the additional safety standards that the Administrator considers necessary to establish a level of safety equivalent to that established by the existing airworthiness standards. DATES: Effective April 6, 2020. FOR FURTHER INFORMATION CONTACT: Shannon Lennon, Airframe and Cabin Safety Section, AIR–675, Transport Standards Branch, Policy and Innovation Division, Aircraft Certification Service, Federal Aviation Administration, 2200 South 216th Street, Des Moines, Washington 98198; telephone and fax 206–231–3209; email shannon.lennon@faa.gov. SUPPLEMENTARY INFORMATION: Under the provisions of title 14, Code of Federal Regulations (14 CFR) 21.101, Boeing must show that the Model 777– 9 series airplane continues to meet the applicable provisions of part 25, through amendment 139, and the regulations listed in Type Certificate No. T00001SE, or the applicable regulations in effect on the date of application for the change, except for earlier amendments as agreed upon by the FAA. If the Administrator finds that the applicable airworthiness regulations (e.g., 14 CFR part 25) do not contain adequate or appropriate safety standards for the Boeing Model 777–9 series airplane because of a novel or unusual design feature, special conditions are prescribed under the provisions of § 21.16. Special conditions are initially applicable to the model for which they are issued. Should the type certificate for that model be amended later to PO 00000 Frm 00006 Fmt 4700 Sfmt 4700 include any other model that incorporates the same novel or unusual design feature, these special conditions would also apply to the other model under § 21.101. In addition to the applicable airworthiness regulations and special conditions, the Boeing Model 777–9 series airplane must comply with the fuel vent and exhaust emission requirements of 14 CFR part 34, and the noise certification requirements of 14 CFR part 36. The FAA issues special conditions, as defined in 14 CFR 11.19, in accordance with § 11.38, and they become part of the type certification basis under § 21.101. Novel or Unusual Design Features The Boeing Model 777–9 series airplane will incorporate the following novel or unusual design features: This airplane will include a passenger cabin with six HWS arranged in two rows of three suites each in a 1–1–1 configuration. Each HWS has a door and walls that extend from the floor to the ceiling or close to the ceiling. The characteristics of the HWS design are novel or unusual in that the suites are within, but not fully open to the cabin (such as for conventional mini-suites with partial height surrounds). They are not remote from the main cabin, as are overhead crew rest areas. Discussion This Boeing Model 777–9 series airplane HWS with interfacing ceiling design is novel or unusual since its design was not specifically considered during the development of § 25.795(c)(3), which requires that certain areas of the airplane incorporate features that deter the concealment, or promote the discovery, of weapons, explosives, or other objects. The areas regulated by that rule are toilets, life preservers and their storage areas, and the areas above overhead bins. These areas are not readily visible, but are readily accessible. For example, areas above overhead bins may not be easily visible when conducting a search due to light fixtures that could inhibit both the visual and physical inspection, but these areas could be accessible places to hide an explosive device. The wall-to-ceiling interface presented in the HWS design in this application is similar to overhead bin designs with respect to such challenges associated with conducting searches. These special conditions address those challenges. However, as opposed to areas above overhead bins, which often exist in continuous sections in the passenger E:\FR\FM\05MRR1.SGM 05MRR1

Agencies

[Federal Register Volume 85, Number 44 (Thursday, March 5, 2020)]
[Rules and Regulations]
[Pages 12862-12864]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03657]


=======================================================================
-----------------------------------------------------------------------

SMALL BUSINESS ADMINISTRATION

13 CFR Part 123

RIN 3245-AH12


Regulatory Reform Initiative: Disaster Loan Program

AGENCY: U. S. Small Business Administration.

ACTION: Direct final rule.

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

SUMMARY: The U.S. Small Business Administration (SBA) is removing from 
the Code of Federal Regulations (CFR) 20 regulations that are no longer 
necessary because the programs they govern are no longer in effect. The 
rule will remove all regulations applicable to two subparts: Pre-
Disaster Mitigation Loans and Economic Injury Disaster Loans as a 
Result of the September 11, 2001 Terrorist Attacks. The removal of 
these regulations will assist the public by simplifying SBA's 
regulations in the CFR.

DATES: This rule is effective on June 3, 2020 without further action, 
unless significant adverse comment is received by May 4, 2020. If 
significant adverse comment is received, SBA will publish a timely 
withdrawal of the rule in the Federal Register.

ADDRESSES: You may submit comments, identified by RIN: 3245-AH12 by any 
of the following methods:
     Federal eRulemaking Portal: https://www.regulations.gov. 
Follow the instructions for submitting comments.
     Mail or Hand Delivery/Courier: Jerome Edwards, Director, 
Program Policy and Evaluation, Office of Disaster Assistance, Small 
Business Administration, 409 Third Street SW, Washington, DC 20416.
    SBA will post all comments on https://www.regulations.gov. If you 
wish to submit confidential business information (CBI), as defined in 
the User Notice at https://www.regulations.gov, please submit the 
information to Jerome Edwards, Director, Program Policy and Evaluation, 
Office of Disaster Assistance, Small Business Administration, 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 the information and make the final 
determination on whether it will publish the information.

FOR FURTHER INFORMATION CONTACT: Jerome Edwards, Director, Program 
Policy and Evaluation, (202) 205-6734, [email protected].

SUPPLEMENTARY INFORMATION: 

I. Background Information

A. Pre-Disaster Mitigation Loans, Part 123, Subpart E

    Pre-disaster mitigation loans were authorized by Congress in 1999 
to encourage disaster preparedness rather than reliance on response and 
recovery. The program was authorized for five fiscal years (2000-2004). 
During that time, SBA made four loans under the program. SBA published 
regulations implementing the Pre-Disaster Mitigation Loan program on 
October 7, 2002 (67 FR 62337). SBA is now removing those regulations as 
the program is no longer authorized.

B. Economic Injury Disaster Loans as a Result of the September 11, 2001 
Terrorist Attacks, Part 123, Subpart G

    In response to the September 11, 2001, terrorist attacks, SBA 
published regulations authorizing economic injury disaster loans 
outside the declared disaster areas to small businesses that suffered 
economic injury as a direct result of the attacks or any related 
Federal action following the attacks. The rule, published on October 
22, 2001 (66 FR 53331), outlined the eligibility criteria and loan 
terms. On June 24, 2002, SBA extended the deadline for businesses to 
apply for the loans from May 22, 2002 to September 30, 2002 (67 FR 
42594). SBA made 4,996 loans under the program. SBA is now removing 
these regulations as they are now obsolete.

C. Executive Order 13771

    On January 30, 2017, President Trump signed Executive Order 13771, 
Reducing Regulation and Controlling Regulatory Costs, which, among 
other objectives, is intended to ensure that an agency's regulatory 
costs are prudently managed and controlled so as to minimize the 
compliance burden imposed on the public. For every new regulation an 
agency proposes to implement, unless prohibited by law, this Executive 
order requires the agency to (i) identify at least two existing 
regulations that the agency can cancel; and (ii) use the cost savings 
from the cancelled regulations to offset the cost of the new 
regulation.

D. Executive Order 13777

    On February 24, 2017, the President issued Executive Order 13777, 
Enforcing the Regulatory Reform Agenda, which further emphasized the 
goal of the Administration to alleviate the regulatory burdens placed 
on the public. Under Executive Order 13777, agencies must evaluate 
their existing regulations to determine which ones should be repealed, 
replaced, or modified. In doing so, agencies should focus on 
identifying regulations that, among other things: Eliminate jobs or 
inhibit job creation; are outdated, unnecessary or ineffective; impose 
costs that exceed benefits; create a serious inconsistency or otherwise 
interfere with regulatory reform initiatives and policies; or are 
associated with Executive orders or other Presidential directives that 
have been rescinded or substantially modified. SBA has engaged in this 
process and has identified the regulations in this rulemaking as 
appropriate for removal in accordance with Executive Order 13777.

II. Section by Section Analysis

A. Pre-Disaster Mitigation Loans, Part 123, Subpart E

    SBA is removing subpart E from part 123 of SBA's regulations 
because the regulations are no longer necessary. The regulations at 13 
CFR 123.400 through 123.412 describe eligibility requirements, 
allowable uses of proceeds, loan terms, and application procedures for 
Pre-Disaster Mitigation Loans. Specifically, the provisions to be 
removed are: (1) Sec.  123.400 What is the Pre-Disaster Mitigation Loan 
Program?; (2) Sec.  123.401 What types of mitigation measures can your 
business include in

[[Page 12863]]

an application for a pre-disaster mitigation loan?; (3) Sec.  123.402 
Can your business include its relocation as a mitigation measure in an 
application for a pre-disaster mitigation loan?; (4) Sec.  123.403 When 
is your business eligible to apply for a pre-disaster mitigation loan?; 
(5) Sec.  123.404 When is your business ineligible to apply for a pre-
disaster mitigation loan?; (6) Sec.  123.405 How much can your business 
borrow with a pre-disaster mitigation loan?; (7) Sec.  123.406 What is 
the interest rate on a pre-disaster mitigation loan?; (8) Sec.  123.407 
When does your business apply for a pre-disaster mitigation loan and 
where does your business get an application?; (9) Sec.  123.408 How 
does your business apply for a pre-disaster mitigation loan?; (10) 
Sec.  123.409 Which pre-disaster mitigation loan requests will SBA 
consider for funding?; (11) Sec.  123.410 Which loan requests will SBA 
fund?; (12) Sec.  123.411 What if SBA determines that your business 
loan request meets the selection criteria of Sec.  123.409 but SBA is 
unable to fund it because SBA has already allocated all program funds?; 
and (13) Sec.  123.412 What happens if SBA declines your business' pre-
disaster mitigation loan request?
    The statutory authority for Pre-Disaster Mitigation Loans expired 
in 2004; therefore, SBA is no longer making these loans. There are no 
outstanding loans.

B. Economic Injury Disaster Loans as a Result of the September 11, 2001 
Terrorist Attacks, Part 123, Subpart G

    SBA is also removing subpart G from part 123 of SBA's regulations 
because the regulations are no longer necessary. The regulations at 13 
CFR 123.600 through 123.606 describe eligibility requirements, 
allowable uses of proceeds, loan terms, and application procedures for 
economic injury disaster loans made under Subpart G. Specifically, the 
provisions to be removed are: (1) Sec.  123.600 Are economic injury 
disaster loans under this subpart limited to the geographic areas 
contiguous to the declared disaster areas?; (2) Sec.  123.601 Is my 
business eligible to apply for an economic injury disaster loan under 
this subpart?; (3) Sec.  123.602 When would my business not be eligible 
to apply for an economic injury disaster loan under this subpart?; (4) 
Sec.  123.603 What is the interest rate on an economic injury disaster 
loan under this subpart?; (5) Sec.  123.604 How can my business spend 
my economic injury disaster loan under this subpart?; (6) Sec.  123.605 
How long do I have to apply for a loan under this subpart?; and (7) 
Sec.  123.606 May I request an increase in the amount of an economic 
injury disaster loan under this subpart?
    This loan program was intended to specifically address the unique 
injury caused by the September 11, 2001 terrorist attacks. Since the 
deadline for businesses to apply for the loans was September 30, 2002 
(67 FR 42594), SBA is no longer making these loans. Therefore, the 
regulations are no longer necessary. There are approximately 478 
outstanding loans; existing borrowers can refer to their loan documents 
for information on loan terms.

C. Conforming Amendment

    SBA is removing regulatory text that cross-references the 
regulations being removed by this rule. Specifically, this conforming 
change removes the text in Sec.  123.21 that references pre-disaster 
mitigation loans.

D. Administrative Procedure Act--Direct Final Rule

    SBA is publishing this rule as a direct final rule because SBA 
views this action as a non-controversial administrative action that 
relates solely to expired SBA programs. This rule will be effective on 
the date shown in the DATES section unless SBA receives any significant 
adverse comments on or before the deadline for comments set forth in 
the DATES section. Significant adverse comments are comments that SBA 
determines provide strong justifications for why the rule should not be 
adopted or for changing the rule. If SBA receives any significant 
adverse comments, SBA will publish a document in the Federal Register 
withdrawing this rule before the effective date.

III. Compliance With Executive Orders 12866, 13771, 12988, and 13132, 
the Paperwork Reduction Act (44 U.S.C., Ch. 35), and the Regulatory 
Flexibility Act (5 U.S.C. 601-612)

A. Executive Order 12866

    The Office of Management and Budget (OMB) has determined that this 
rule does not constitute a significant regulatory action for purposes 
of Executive Order 12866 and is not a major rule under the 
Congressional Review Act, 5 U.S.C. 801, et seq.

B. Executive Order 13771

    This direct final rule is an Executive Order 13771 deregulatory 
action with an annualized net savings of $45,245 and a net present 
value of $646,355, both in 2016 dollars. This rule will remove 
information, which will save potential applicants time in reading and 
inquiring about these obsolete programs and reduce confusion around 
whether applications are being accepted.
    Approximately 109,131 applicants apply for SBA disaster assistance 
loans per year on average, based on data from 2014-2018. These 
calculations assume 3% of disaster loan applicants read the regulations 
per year (or approximately 3,300 applicants) and that the removal of 
these obsolete regulations would save each applicant 30 minutes of time 
otherwise spent reviewing or inquiring about non-existent programs. 
This time is valued at $28.80 per hour--the median wage of a full-time 
working adult based on 2018 Bureau of Labor Statistics (BLS) data, 
adding 30% more for benefits. The removal of these regulations produces 
a total savings per year of $47,145 in current dollars.

C. Executive Order 12988

    This action meets applicable standards set forth in Sections 3(a) 
and 3(b)(2) of Executive Order 12988, Civil Justice Reform, to minimize 
litigation, eliminate ambiguity, and reduce burden. The action does not 
have retroactive or preemptive effect.

D. Executive Order 13132

    This rule does not have federalism implications as defined in 
Executive Order 13132. It will not have substantial direct effects 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, as specified in the Executive order. As 
such it does not warrant the preparation of a Federalism Assessment.

E. Paperwork Reduction Act

    The SBA has determined that this final rule does not affect any 
existing collection of information.

F. Regulatory Flexibility Act

    When an agency issues a rule, the Regulatory Flexibility Act (RFA) 
requires the agency to prepare a final regulatory flexibility analysis 
(FRFA), which describes whether the rule will have a significant 
economic impact on a substantial number of small entities. However, 
Section 605 of the RFA allows an agency to certify a rule, in lieu of 
preparing a FRFA, if the rulemaking is not expected to have a 
significant economic impact on a substantial number of small entities.
    This direct final rule is removing descriptions of obsolete 
programs in the current regulations, which will reduce confusion and 
the time required to read and/or inquire about obsolete programs. 
Approximately 109,131 applicants apply for SBA disaster assistance 
loans per year, on average based on data from

[[Page 12864]]

2014-2018. The net savings to potential disaster loan applicants is 
$47,145 per year in current dollars, or less than a dollar per 
applicant.
    Therefore, SBA hereby certifies that this rule will not have a 
significant economic impact on a substantial number of small entities.

List of Subjects in 13 CFR Part 123

    Disaster assistance, Loan programs-business, Small businesses, 
Terrorism.

    Accordingly, for the reasons stated in the preamble, SBA is 
amending 13 CFR part 123 as follows:

PART 123--DISASTER LOAN PROGRAM

0
1. The authority citation for part 123 is revised to read as follows:

    Authority:  15 U.S.C. 632, 634(b)(6), 636(b), 636(d), and 657n.


Sec.  123.21   [Amended]

0
2. Amend Sec.  123.21 by removing the last sentence.

Subpart E--[Removed and Reserved]

0
3. Remove and reserve subpart E, consisting of Sec. Sec.  123.400 
through 123.412.

Subpart G--[Removed and Reserved]

0
4. Remove and reserve subpart G, consisting of Sec. Sec.  123.600 
through 123.606.

    Dated: February 11, 2020.
Jovita Carranza,
Administrator.
[FR Doc. 2020-03657 Filed 3-4-20; 8:45 am]
 BILLING CODE 8025-01-P
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.