Economic Development Administration – Federal Register Recent Federal Regulation Documents

Through this notice of proposed rulemaking (``NPRM''), the Economic Development Administration (``EDA''), U.S. Department of Commerce (``DOC''), proposes and requests comments on updates to the agency's regulations implementing the Public Works and Economic Development Act of 1965, as amended (``PWEDA''). In particular, through this NPRM EDA is proposing important changes to the regulations governing the Revolving Loan Fund (``RLF'') program that are intended to reflect current best practices and strengthen EDA's efforts to evaluate, monitor, and improve RLF performance by establishing the Risk Analysis System, a risk-based management framework, to evaluate and manage the RLF program. The proposed Risk Analysis System is modeled on the Uniform Financial Institutions Rating System, commonly known as the capital adequacy, assets, management capability, earnings, liquidity, and sensitivity (``CAMELS'') rating system, which has been used since 1979 to assess financial institutions on a uniform basis and to identify those in need of additional attention. EDA also proposes to reorganize the RLF regulations to improve their readability and clarify the requirements that apply to the distinct phases of an RLF award. In addition, EDA proposes specific changes to RLF requirements to make RLF awards more efficient for Recipients to administer and EDA to monitor. In addition, through this NPRM EDA proposes important, but less comprehensive updates to other parts of its regulations, including revising definitions, replacing references to superseded regulations to reflect the promulgation of the Uniform Administrative Requirements, Cost Principles, and Audit Requirements (2 CFR part 200) (``Uniform Guidance''), streamlining the provisions that outline EDA's application process, and clarifying EDA's property management regulations.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a public meeting on Wednesday, October 5, 2016. During this time, members will discuss and finalize the Council's various initiatives focused on innovation, entrepreneurship, and talent development and will formally conclude this Council's term.

Through this notice of proposed rulemaking (``NPRM''), the Economic Development Administration (``EDA'' or ``the Agency''), U.S. Department of Commerce (``DOC''), proposes and requests comments on the Agency's implementation of the Regional Innovation Program as authorized by section 27 of the Stevenson-Wydler Technology Innovation Act of 1980, as amended (``Stevenson-Wydler'' or the ``Act''). Through the Regional Innovation Strategies Program (``RIS Program''), the centerpiece of the Regional Innovation Program, EDA currently awards grants for capacity-building programs that provide proof-of-concept and commercialization assistance to innovators and entrepreneurs and for operational support for organizations that provide essential early- stage funding to startup companies. This NPRM, for the first time, lays out the overarching regulatory framework for the Regional Innovation Program and specifically focuses on outlining the structure of the RIS Program.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a public meeting on Thursday, June 16, 2016, from 2:00-4:00 p.m. Eastern Time (ET) and Friday, June 17, 2016, from 8:30 a.m.-12:00 p.m. ET. During this time, members will continue to work on various Council initiatives which include innovation, entrepreneurship, and talent development.

The Department of Commerce (DOC) is currently seeking applications for membership on the National Advisory Council on Innovation and Entrepreneurship (NACIE). NACIE advises the Secretary of Commerce (the Secretary) on matters related to accelerating innovation and entrepreneurship.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a public meeting on Thursday, March 3, 2016, 2:002:45 p.m. Central Standard Time (CST) and Friday, March 4, 2016, 8:45 a.m.12:00 p.m. CST. During this time, members will continue to work on various Council initiatives which include: Innovation, entrepreneurship and workforce talent.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a teleconference meeting on Thursday, February 18, 2016, 2:00-2:45 p.m. Eastern Standard Time (EST) and will be open to the public. During this time, members will discuss and vote on the Capital Continuum Exchange proposal. If approved, the recommendation will be presented to the Secretary in March. The meeting will take place via teleconference.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a public meeting on Thursday, December 3, 2015, 2:00-3:30 p.m. Eastern Time (ET) and Friday, December 4, 2015, 8:45 a.m.-12:00 p.m. ET. During this time, members will continue to work on various Council initiatives which include: innovation, entrepreneurship and workforce talent.

In accordance with 5 U.S.C. Sec. 4314(c)(4), the Economic Development Administration (EDA), Department of Commerce (DOC), announces the appointment of those individuals who have been selected to serve as members of EDA's Performance Review Board. The Performance Review Board is responsible for (1) reviewing performance appraisals and rating of Senior Executive Service (SES) members and (2) making recommendations to the appointing authority on other performance management issues, such as pay adjustments, bonuses and Presidential Rank Awards for SES members. The appointment of these members to the Performance Review Board will be for a period of twenty-four (24) months.

The National Advisory Council on Innovation and Entrepreneurship (NACIE) will hold a public meeting on Thursday, June 4, 2015, 2:00-3:00 p.m. Eastern Daylight Time (EDT) and Friday, June 5, 2015, 8:30 a.m.-12:00 p.m. EDT. During this time, members will present proposals to the Secretary of Commerce, identify next steps, and continue to work on potential committee initiatives on innovation, entrepreneurship, and workforce/talent.