Distance Education and Innovation; Correction, 49478-49480 [2021-19141]

Download as PDF 49478 Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Rules and Regulations E. Unfunded Mandates Reform Act The Unfunded Mandates Reform Act of 1995 (2 U.S.C. 1531–1538) requires Federal agencies to assess the effects of their discretionary regulatory actions. In particular, the Act addresses actions that may result in the expenditure by a State, local, or tribal government, in the aggregate, or by the private sector of $100,000,000 (adjusted for inflation) or more in any one year. Though this rule will not result in such an expenditure, we do discuss the effects of this rule elsewhere in this preamble. F. Environment We have analyzed this rule under Department of Homeland Security Directive 023–01, Rev. 1, associated implementing instructions, and Environmental Planning COMDTINST 5090.1 (series), which guide the Coast Guard in complying with the National Environmental Policy Act of 1969 (42 U.S.C. 4321–4370f), and have determined that this action is one of a category of actions that do not individually or cumulatively have a significant effect on the human environment. This rule involves implementation of regulations within 33 CFR part 100 applicable to organized marine events on the navigable waters of the United States that could negatively impact the safety of waterway users and shore side activities in the event area for 6 hours. It is categorically excluded from further review under paragraph L61 of Appendix A, Table 1 of DHS Instruction Manual 023–01–001–01, Rev. 1. A Memorandum for the Record supporting this determination is available in the docket. For instructions on locating the docket, see the ADDRESSES section of this preamble. G. Protest Activities The Coast Guard respects the First Amendment rights of protesters. Protesters are asked to call or email the person listed in the FOR FURTHER INFORMATION CONTACT section to coordinate protest activities so that your message can be received without jeopardizing the safety or security of people, places or vessels. lotter on DSK11XQN23PROD with RULES1 List of Subjects in 33 CFR Part 100 Marine safety, Navigation (water), Reporting and recordkeeping requirements, Waterways. For the reasons discussed in the preamble, the Coast Guard amends 33 CFR part 100 as follows: VerDate Sep<11>2014 16:01 Sep 02, 2021 Jkt 253001 PART 100—SAFETY OF LIFE ON NAVIGABLE WATERS 1. The authority citation for part 100 continues to read as follows: ■ Authority: 46 U.S.C. 70041; 33 CFR 1.05– 1. 2. Add § 100.T05–0505 to read as follows: ■ § 100.T05–0505 Bay Bridge Paddle, Chesapeake Bay, Between Sandy Point and Kent Island, MD. (a) Regulated area. The regulations in this section apply to the following area: All navigable waters of the Chesapeake Bay, adjacent to the shoreline at Sandy Point State Park and between and adjacent to the spans of the William P. Lane Jr. Memorial Bridges, from shoreline to shoreline, bounded to the north by a line drawn from the western shoreline at latitude 39°01′05.23″ N, longitude 076°23′47.93″ W; thence eastward to latitude 39°01′02.08″ N, longitude 076°22′40.24″ W; thence southeastward to eastern shoreline at latitude 38°59′13.70″ N, longitude 076°19′58.40″ W; and bounded to the south by a line drawn parallel and 500 yards south of the south bridge span that originates from the western shoreline at latitude 39°00′17.08″ N, longitude 076°24′28.36″ W; thence southward to latitude 38°59′38.36″ N, longitude 076°23′59.67″ W; thence eastward to latitude 38°59′26.93″ N, longitude 076°23′25.53″ W; thence eastward to the eastern shoreline at latitude 38°58′40.32″ N, longitude 076°20′10.45″ W, located between Sandy Point and Kent Island, MD. The coordinates are based on datum NAD 1983. (b) Definitions. As used in this section— Captain of the Port (COTP) MarylandNational Capital Region means the Commander, U.S. Coast Guard Sector Maryland-National Capital Region or any Coast Guard commissioned, warrant or petty officer who has been authorized by the COTP to act on his behalf. Coast Guard Event Patrol Commander (Event PATCOM) means a commissioned, warrant, or petty officer of the U.S. Coast Guard who has been designated by the Commander, Coast Guard Sector Maryland-National Capital Region. Official patrol means any vessel assigned or approved by Commander, Coast Guard Sector Maryland-National Capital Region with a commissioned, warrant, or petty officer on board and displaying a Coast Guard ensign. Participant means all persons and vessels registered with the event sponsor as participating in the ‘‘Bay PO 00000 Frm 00018 Fmt 4700 Sfmt 4700 Bridge Paddle’’ event, or otherwise designated by the event sponsor as having a function tied to the event. (c) Special local regulations. (1) Except for participants and vessels already at berth, all non-participants are prohibited from entering, transiting through, anchoring in, or remaining within the regulated area described in paragraph (a) of this section unless authorized by the COTP MarylandNational Capital Region or Event PATCOM. (2) To seek permission to enter, contact the COTP Maryland-National Capital Region at telephone number 410–576–2693 or on Marine Band Radio, VHF–FM channel 16 (156.8 MHz) or the Event PATCOM on Marine Band Radio, VHF–FM channel 16 (156.8 MHz). Those in the regulated area must comply with all lawful orders or directions given to them by the COTP Maryland-National Capital Region or Event PATCOM. (3) Official patrols will direct nonparticipants while within the regulated area. Official patrols enforcing the regulated area can be contacted on VHF–FM channel 16 and channel 22A. (4) The COTP Maryland-National Capital Region will provide notice of the regulated area through advanced notice via Fifth Coast Guard District Local Notice to Mariners, broadcast notice to mariners, and on-scene official patrols. (d) Enforcement officials. The Coast Guard may be assisted with marine event patrol and enforcement of the regulated area by other federal, state, and local agencies. (e) Enforcement period. This section will be enforced from 7 a.m. to 1 p.m. on September 26, 2021. Dated: August 30, 2021. David E. O’Connell, Captain, U.S. Coast Guard, Captain of the Port Maryland-National Capital Region. [FR Doc. 2021–19102 Filed 9–2–21; 8:45 am] BILLING CODE 9110–04–P DEPARTMENT OF EDUCATION 34 CFR Part 600 [Docket ID ED–2018–OPE–0076] RIN 1840–AD38 Distance Education and Innovation; Correction Office of Postsecondary Education, Department of Education. ACTION: Correcting amendments. AGENCY: On September 2, 2020, the Department of Education (Department) published in the Federal Register a final SUMMARY: E:\FR\FM\03SER1.SGM 03SER1 Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Rules and Regulations lotter on DSK11XQN23PROD with RULES1 rule to amend the general, establishing eligibility, maintaining eligibility, and losing eligibility sections of the Institutional Eligibility regulations issued under the Higher Education Act of 1965, as amended (HEA), related to distance education and innovation, as well as the Student Assistance General Provisions regulations issued under the HEA (Distance Education and Innovation Rule). This document corrects the text in the regulations. DATES: This correction is effective on September 3, 2021. FOR FURTHER INFORMATION CONTACT: Gregory Martin at (202) 453–7535 or Gregory.Martin@ed.gov. If you use a telecommunications device for the deaf (TDD) or a text telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1–800–877– 8339. SUPPLEMENTARY INFORMATION: The Department’s Distance Education and Innovation Rule, published in the Federal Register on September 2, 2020 (85 FR 54742), contained an error in the amendatory language that resulted in the deletion of 34 CFR 600.20(f), (g), and (h). This correction restores those paragraphs. Waiver of Proposed Rulemaking and Negotiated Rulemaking In accordance with the Administrative Procedure Act, 5 U.S.C. 553, the Department generally offers interested parties the opportunity to comment on proposed regulations. However, the actions in this document merely correct a technical error, and thus, the Department has determined that publication of a proposed rule is unnecessary under 5 U.S.C. 553(b)(B). In addition, under section 492 of the HEA (20 U.S.C. 1098a), all regulations proposed by the Department for programs authorized under title IV of the HEA are subject to negotiated rulemaking requirements. Section 492(b)(2) of the HEA provides that negotiated rulemaking may be waived for good cause when doing so would be ‘‘impracticable, unnecessary, or contrary to the public interest.’’ There is likewise good cause to waive the negotiated rulemaking requirement in this case, since, as explained above, notice and comment rulemaking is unnecessary. Accessible Format: On request to the program contact person listed under FOR FURTHER INFORMATION CONTACT, individuals with disabilities can obtain this document in an accessible format. The Department will provide the requestor with an accessible format that may include Rich Text Format (RTF) or text format (txt), a thumb drive, an MP3 VerDate Sep<11>2014 16:01 Sep 02, 2021 Jkt 253001 file, braille, large print, audiotape, or compact disc, or other accessible format. Electronic Access to This Document: The official version of this document is the document published in the Federal Register. You may access the official edition of the Federal Register and the Code of Federal Regulations at www.govinfo.gov. At this site you can view this document, as well as all other documents of this Department published in the Federal Register, in text or Portable Document Format (PDF). To use PDF you must have Adobe Acrobat Reader, which is available free at the site. You may also access documents of the Department published in the Federal Register by using the article search feature at www.federalregister.gov. Specifically, through the advanced search feature at this site, you can limit your search to documents published by the Department. List of Subjects in 34 CFR Part 600 Colleges and universities, Grant programs—education, Loan programs— education, Reporting and recordkeeping requirements, Student aid, Vocational education. Michelle Asha Cooper, Acting Assistant Secretary for Postsecondary Education. Accordingly, the Secretary corrects 34 CFR part 600 by making the following correcting amendment: PART 600—INSTITUTIONAL ELIGIBILITY UNDER THE HIGHER EDUCATION ACT OF 1965, AS AMENDED 1. The authority citation for part 600 continues to read as follows: ■ Authority: 20 U.S.C. 1001, 1002, 1003, 1088, 1091, 1094, 1099b, and 1099c, unless otherwise noted. 2. Section 600.20 is amended by adding paragraphs (f) through (h) and a parenthetical OMB approval note to read as follows: ■ § 600.20 Notice and application procedures for establishing, reestablishing, maintaining, or expanding institutional eligibility and certification. * * * * * (f) Disbursement rules related to applications. (1)(i) Except as provided under paragraph (f)(1)(ii) of this section and 34 CFR 668.26, if an institution submits an application under paragraph (b)(2)(i) of this section because its participation period is scheduled to expire, after that expiration date the institution may not disburse title IV, HEA program funds to students attending that institution until the PO 00000 Frm 00019 Fmt 4700 Sfmt 4700 49479 institution receives the Secretary’s notification that the institution is again eligible to participate in those programs. (ii) An institution described in paragraph (f)(1)(i) of this section may disburse title IV, HEA program funds to its students if the institution submits to the Secretary a materially complete renewal application in accordance with the provisions of 34 CFR 668.13(b)(2), and has not received a final decision from the Department on that application. (2)(i) Except as provided under paragraph (f)(2)(ii) of this section and 34 CFR 668.26, if a private nonprofit, private for-profit, or public institution submits an application under paragraph (b)(2)(ii) or (iii) of this section because it has undergone or will undergo a change in ownership that results in a change of control or a change in status, the institution may not disburse title IV, HEA program funds to students attending that institution after the change of ownership or status until the institution receives the Secretary’s notification that the institution is eligible to participate in those programs. (ii) An institution described in paragraph (f)(2)(i) of this section may disburse title IV, HEA program funds to its students if the Secretary issues a provisional extension of certification under paragraph (g) of this section. (3) If an institution must apply to the Secretary under paragraphs (c)(1) through (4) of this section, the institution may not disburse title IV, HEA program funds to students attending the subject location, program, or branch until the institution receives the Secretary’s notification that the location, program, or branch is eligible to participate in the title IV, HEA programs. (4) If an institution applies to the Secretary under paragraph (c)(5) of this section to convert an eligible location to a branch campus, the institution may continue to disburse title IV, HEA program funds to students attending that eligible location. (5) If an institution does not apply to the Secretary to obtain the Secretary’s approval of a new location, program, increased level of program offering, or branch, and the location, program, or branch does not qualify as an eligible location, program, or branch of that institution under this part and 34 CFR part 668, the institution is liable for all title IV, HEA program funds it disburses to students enrolled at that location or branch or in that program. (g) Application for provisional extension of certification. (1) If a private nonprofit institution, a private for-profit institution, or a public institution E:\FR\FM\03SER1.SGM 03SER1 lotter on DSK11XQN23PROD with RULES1 49480 Federal Register / Vol. 86, No. 169 / Friday, September 3, 2021 / Rules and Regulations participating in the title IV, HEA programs undergoes a change in ownership that results in a change of control as described in § 600.31, the Secretary may continue the institution’s participation in those programs on a provisional basis, if the institution under the new ownership submits a ‘‘materially complete application’’ that is received by the Secretary no later than 10 business days after the day the change occurs. (2) For purposes of this section, a private nonprofit institution, a private for-profit institution, or a public institution submits a materially complete application if it submits a fully completed application form designated by the Secretary supported by— (i) A copy of the institution’s State license or equivalent document that—as of the day before the change in ownership—authorized or will authorize the institution to provide a program of postsecondary education in the State in which it is physically located; (ii) A copy of the document from the institution’s accrediting association that—as of the day before the change in ownership—granted or will grant the institution accreditation status, including approval of any non-degree programs it offers; (iii) Audited financial statements of the institution’s two most recently completed fiscal years that are prepared and audited in accordance with the requirements of 34 CFR 668.23; and (iv) Audited financial statements of the institution’s new owner’s two most recently completed fiscal years that are prepared and audited in accordance with the requirements of 34 CFR 668.23, or equivalent information for that owner that is acceptable to the Secretary. (h) Terms of the extension. (1) If the Secretary approves the institution’s materially complete application, the Secretary provides the institution with a provisional Program Participation Agreement (PPA). The provisional PPA extends the terms and conditions of the program participation agreement that were in effect for the institution before its change of ownership. (2) The provisional PPA expires on the earlier of— (i) The date on which the Secretary signs a new program participation agreement; VerDate Sep<11>2014 16:01 Sep 02, 2021 Jkt 253001 (ii) The date on which the Secretary notifies the institution that its application is denied; or (iii) The last day of the month following the month in which the change of ownership occurred, unless the provisions of paragraph (h)(3) of this section apply. (3) If the provisional PPA will expire under the provisions of paragraph (h)(2)(iii) of this section, the Secretary extends the provisional PPA on a month-to-month basis after the expiration date described in paragraph (h)(2)(iii) of this section if, prior to that expiration date, the institution provides the Secretary with— (i) A ‘‘same day’’ balance sheet showing the financial position of the institution, as of the date of the ownership change, that is prepared in accordance with Generally Accepted Accounting Principles (GAAP) published by the Financial Accounting Standards Board and audited in accordance with Generally Accepted Government Auditing Standards (GAGAS) published by the U.S. General Accounting Office; (ii) If not already provided, approval of the change of ownership from the State in which the institution is located by the agency that authorizes the institution to legally provide postsecondary education in that State; (iii) If not already provided, approval of the change of ownership from the institution’s accrediting agency; and (iv) A default management plan unless the institution is exempt from providing that plan under 34 CFR 668.14(b)(15). (Approved by the Office of Management and Budget under control number 1845–0012) [FR Doc. 2021–19141 Filed 9–2–21; 8:45 am] BILLING CODE 4000–01–P approve a revision to the San Diego County Air Pollution Control District (SDCAPCD or ‘‘District’’) portion of the California State Implementation Plan (SIP). This revision concerns emissions of volatile organic compounds (VOCs) from gasoline transfers into underground stationary storage tanks at gasoline dispensing facilities. We are approving a local rule that regulates these emission sources under the Clean Air Act (CAA or ‘‘Act’’). This rule will be effective on October 4, 2021. DATES: The EPA has established a docket for this action under Docket ID No. EPA–R09–OAR–2021–0366. All documents in the docket are listed on the https://www.regulations.gov website. Although listed in the index, some information is not publicly available, e.g., Confidential Business Information or other information whose disclosure is restricted by statute. Certain other material, such as copyrighted material, is not placed on the internet and will be publicly available only in hard copy form. Publicly available docket materials are available through https:// www.regulations.gov, or please contact the person identified in the FOR FURTHER INFORMATION CONTACT section for additional availability information. If you need assistance in a language other than English or if you are a person with disabilities who needs a reasonable accommodation at no cost to you, please contact the person identified in the FOR FURTHER INFORMATION CONTACT section. ADDRESSES: FOR FURTHER INFORMATION CONTACT: Rebecca Newhouse, EPA Region IX, 75 Hawthorne St., San Francisco, CA 94105. By phone: (415) 972–3004 or by email at newhouse.rebecca@epa.gov. ENVIRONMENTAL PROTECTION AGENCY SUPPLEMENTARY INFORMATION: Throughout this document, ‘‘we,’’ ‘‘us’’ and ‘‘our’’ refer to the EPA. 40 CFR Part 52 Table of Contents [EPA–R09–OAR–2021–0366; FRL–8797–02– R9] I. Proposed Action II. Public Comments and EPA Responses III. EPA Action IV. Incorporation by Reference V. Statutory and Executive Order Reviews Air Plan Approval; California; San Diego County Air Pollution Control District Environmental Protection Agency (EPA). ACTION: Final rule. AGENCY: The Environmental Protection Agency (EPA) is taking final action to I. Proposed Action On June 7, 2021,1 the EPA proposed to approve the following rule into the California SIP. SUMMARY: PO 00000 Frm 00020 Fmt 4700 Sfmt 4700 1 86 E:\FR\FM\03SER1.SGM FR 30232. 03SER1

Agencies

[Federal Register Volume 86, Number 169 (Friday, September 3, 2021)]
[Rules and Regulations]
[Pages 49478-49480]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-19141]


=======================================================================
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DEPARTMENT OF EDUCATION

34 CFR Part 600

[Docket ID ED-2018-OPE-0076]
RIN 1840-AD38


Distance Education and Innovation; Correction

AGENCY: Office of Postsecondary Education, Department of Education.

ACTION: Correcting amendments.

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

SUMMARY: On September 2, 2020, the Department of Education (Department) 
published in the Federal Register a final

[[Page 49479]]

rule to amend the general, establishing eligibility, maintaining 
eligibility, and losing eligibility sections of the Institutional 
Eligibility regulations issued under the Higher Education Act of 1965, 
as amended (HEA), related to distance education and innovation, as well 
as the Student Assistance General Provisions regulations issued under 
the HEA (Distance Education and Innovation Rule). This document 
corrects the text in the regulations.

DATES: This correction is effective on September 3, 2021.

FOR FURTHER INFORMATION CONTACT: Gregory Martin at (202) 453-7535 or 
[email protected].
    If you use a telecommunications device for the deaf (TDD) or a text 
telephone (TTY), call the Federal Relay Service (FRS), toll free, at 1-
800-877-8339.

SUPPLEMENTARY INFORMATION: The Department's Distance Education and 
Innovation Rule, published in the Federal Register on September 2, 2020 
(85 FR 54742), contained an error in the amendatory language that 
resulted in the deletion of 34 CFR 600.20(f), (g), and (h). This 
correction restores those paragraphs.

Waiver of Proposed Rulemaking and Negotiated Rulemaking

    In accordance with the Administrative Procedure Act, 5 U.S.C. 553, 
the Department generally offers interested parties the opportunity to 
comment on proposed regulations. However, the actions in this document 
merely correct a technical error, and thus, the Department has 
determined that publication of a proposed rule is unnecessary under 5 
U.S.C. 553(b)(B).
    In addition, under section 492 of the HEA (20 U.S.C. 1098a), all 
regulations proposed by the Department for programs authorized under 
title IV of the HEA are subject to negotiated rulemaking requirements. 
Section 492(b)(2) of the HEA provides that negotiated rulemaking may be 
waived for good cause when doing so would be ``impracticable, 
unnecessary, or contrary to the public interest.'' There is likewise 
good cause to waive the negotiated rulemaking requirement in this case, 
since, as explained above, notice and comment rulemaking is 
unnecessary.
    Accessible Format: On request to the program contact person listed 
under FOR FURTHER INFORMATION CONTACT, individuals with disabilities 
can obtain this document in an accessible format. The Department will 
provide the requestor with an accessible format that may include Rich 
Text Format (RTF) or text format (txt), a thumb drive, an MP3 file, 
braille, large print, audiotape, or compact disc, or other accessible 
format.
    Electronic Access to This Document: The official version of this 
document is the document published in the Federal Register. You may 
access the official edition of the Federal Register and the Code of 
Federal Regulations at www.govinfo.gov. At this site you can view this 
document, as well as all other documents of this Department published 
in the Federal Register, in text or Portable Document Format (PDF). To 
use PDF you must have Adobe Acrobat Reader, which is available free at 
the site.
    You may also access documents of the Department published in the 
Federal Register by using the article search feature at 
www.federalregister.gov. Specifically, through the advanced search 
feature at this site, you can limit your search to documents published 
by the Department.

List of Subjects in 34 CFR Part 600

    Colleges and universities, Grant programs--education, Loan 
programs--education, Reporting and recordkeeping requirements, Student 
aid, Vocational education.

Michelle Asha Cooper,
Acting Assistant Secretary for Postsecondary Education.
    Accordingly, the Secretary corrects 34 CFR part 600 by making the 
following correcting amendment:

PART 600--INSTITUTIONAL ELIGIBILITY UNDER THE HIGHER EDUCATION ACT 
OF 1965, AS AMENDED

0
1. The authority citation for part 600 continues to read as follows:

    Authority: 20 U.S.C. 1001, 1002, 1003, 1088, 1091, 1094, 1099b, 
and 1099c, unless otherwise noted.


0
2. Section 600.20 is amended by adding paragraphs (f) through (h) and a 
parenthetical OMB approval note to read as follows:


Sec.  600.20  Notice and application procedures for establishing, 
reestablishing, maintaining, or expanding institutional eligibility and 
certification.

* * * * *
    (f) Disbursement rules related to applications. (1)(i) Except as 
provided under paragraph (f)(1)(ii) of this section and 34 CFR 668.26, 
if an institution submits an application under paragraph (b)(2)(i) of 
this section because its participation period is scheduled to expire, 
after that expiration date the institution may not disburse title IV, 
HEA program funds to students attending that institution until the 
institution receives the Secretary's notification that the institution 
is again eligible to participate in those programs.
    (ii) An institution described in paragraph (f)(1)(i) of this 
section may disburse title IV, HEA program funds to its students if the 
institution submits to the Secretary a materially complete renewal 
application in accordance with the provisions of 34 CFR 668.13(b)(2), 
and has not received a final decision from the Department on that 
application.
    (2)(i) Except as provided under paragraph (f)(2)(ii) of this 
section and 34 CFR 668.26, if a private nonprofit, private for-profit, 
or public institution submits an application under paragraph (b)(2)(ii) 
or (iii) of this section because it has undergone or will undergo a 
change in ownership that results in a change of control or a change in 
status, the institution may not disburse title IV, HEA program funds to 
students attending that institution after the change of ownership or 
status until the institution receives the Secretary's notification that 
the institution is eligible to participate in those programs.
    (ii) An institution described in paragraph (f)(2)(i) of this 
section may disburse title IV, HEA program funds to its students if the 
Secretary issues a provisional extension of certification under 
paragraph (g) of this section.
    (3) If an institution must apply to the Secretary under paragraphs 
(c)(1) through (4) of this section, the institution may not disburse 
title IV, HEA program funds to students attending the subject location, 
program, or branch until the institution receives the Secretary's 
notification that the location, program, or branch is eligible to 
participate in the title IV, HEA programs.
    (4) If an institution applies to the Secretary under paragraph 
(c)(5) of this section to convert an eligible location to a branch 
campus, the institution may continue to disburse title IV, HEA program 
funds to students attending that eligible location.
    (5) If an institution does not apply to the Secretary to obtain the 
Secretary's approval of a new location, program, increased level of 
program offering, or branch, and the location, program, or branch does 
not qualify as an eligible location, program, or branch of that 
institution under this part and 34 CFR part 668, the institution is 
liable for all title IV, HEA program funds it disburses to students 
enrolled at that location or branch or in that program.
    (g) Application for provisional extension of certification. (1) If 
a private nonprofit institution, a private for-profit institution, or a 
public institution

[[Page 49480]]

participating in the title IV, HEA programs undergoes a change in 
ownership that results in a change of control as described in Sec.  
600.31, the Secretary may continue the institution's participation in 
those programs on a provisional basis, if the institution under the new 
ownership submits a ``materially complete application'' that is 
received by the Secretary no later than 10 business days after the day 
the change occurs.
    (2) For purposes of this section, a private nonprofit institution, 
a private for-profit institution, or a public institution submits a 
materially complete application if it submits a fully completed 
application form designated by the Secretary supported by--
    (i) A copy of the institution's State license or equivalent 
document that--as of the day before the change in ownership--authorized 
or will authorize the institution to provide a program of postsecondary 
education in the State in which it is physically located;
    (ii) A copy of the document from the institution's accrediting 
association that--as of the day before the change in ownership--granted 
or will grant the institution accreditation status, including approval 
of any non-degree programs it offers;
    (iii) Audited financial statements of the institution's two most 
recently completed fiscal years that are prepared and audited in 
accordance with the requirements of 34 CFR 668.23; and
    (iv) Audited financial statements of the institution's new owner's 
two most recently completed fiscal years that are prepared and audited 
in accordance with the requirements of 34 CFR 668.23, or equivalent 
information for that owner that is acceptable to the Secretary.
    (h) Terms of the extension. (1) If the Secretary approves the 
institution's materially complete application, the Secretary provides 
the institution with a provisional Program Participation Agreement 
(PPA). The provisional PPA extends the terms and conditions of the 
program participation agreement that were in effect for the institution 
before its change of ownership.
    (2) The provisional PPA expires on the earlier of--
    (i) The date on which the Secretary signs a new program 
participation agreement;
    (ii) The date on which the Secretary notifies the institution that 
its application is denied; or
    (iii) The last day of the month following the month in which the 
change of ownership occurred, unless the provisions of paragraph (h)(3) 
of this section apply.
    (3) If the provisional PPA will expire under the provisions of 
paragraph (h)(2)(iii) of this section, the Secretary extends the 
provisional PPA on a month-to-month basis after the expiration date 
described in paragraph (h)(2)(iii) of this section if, prior to that 
expiration date, the institution provides the Secretary with--
    (i) A ``same day'' balance sheet showing the financial position of 
the institution, as of the date of the ownership change, that is 
prepared in accordance with Generally Accepted Accounting Principles 
(GAAP) published by the Financial Accounting Standards Board and 
audited in accordance with Generally Accepted Government Auditing 
Standards (GAGAS) published by the U.S. General Accounting Office;
    (ii) If not already provided, approval of the change of ownership 
from the State in which the institution is located by the agency that 
authorizes the institution to legally provide postsecondary education 
in that State;
    (iii) If not already provided, approval of the change of ownership 
from the institution's accrediting agency; and
    (iv) A default management plan unless the institution is exempt 
from providing that plan under 34 CFR 668.14(b)(15).

(Approved by the Office of Management and Budget under control 
number 1845-0012)

[FR Doc. 2021-19141 Filed 9-2-21; 8:45 am]
BILLING CODE 4000-01-P
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