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USDA/RBS

RIN: 0570-AA35

Publication ID: Fall 2008

Title: Rural Business Investment Program
Abstract: The Agency published an interim rule on June 8, 2004 [69 FR 32200], to implement the provisions of section 6029 of the Farm Security and Rural Investment Act, which authorizes the Rural Business Investment Program. Section 6027 of the Food, Conservation, and Energy Act of 2008 (2008 Farm Bill) reauthorized and amended the Rural Business Investment Program. The purpose of the program is the establishment of equity capital investment in Rural Business Investment Companies and other entities through a combination of grants and guarantees of debentures with the objective of fostering economic development in rural areas. By law, the program is required to be administered by another Federal agency that has considerable expertise in operating a similar program. The Rural Business-Cooperative Service has contracted with the Small Business Administration. An Advance Notice of Proposed Rulemaking was published on March 29, 2007 [72 FR 14712], seeking public comments regarding the possibility of operating the Rural Business Investment Program to provide for non-leveraged rural business investment companies. All comments will be addressed in the final rule when published.
Agency: Department of Agriculture(USDA)	Priority: Other Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 7 CFR 4290
Legal Authority: PL 107-171, sec 6029

Legal Deadline: None

Timetable:

Action	Date	FR Cite
Interim Final Rule	06/08/2004	69 FR 32200
Interim Final Rule Comment Period End	07/08/2004	69 FR 32200
ANPRM	03/29/2007	72 FR 14712
ANPRM Comment Period End	04/27/2007	72 FR 14712
Final Action	03/00/2009

Regulatory Flexibility Analysis Required: No	Government Levels Affected: None
Small Entities Affected: No	Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Agency Contact: Michael Foore Program Policy Advisor, Office of the Administrator Department of Agriculture Rural Business-Cooperative Service STOP 3221, 1400 Independence Avenue SW, STOP 3201, Washington, DC 20250 Phone:202 205-0056 Fax:202 690-4737 Email: michael.foore@wdc.usda.gov