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USDA/RUS

RIN: 0572-AC13

Publication ID: Fall 2008

Title: ●General Policies, Types of Loans, Loan Requirements-Telecommunications Program
Abstract: The Rural Development Utilities Programs Telecommunications Program makes loans to rural utilities and other entities to improve and expand telecommunications services in rural areas. One of the provisions contained in 7 CFR part 1735 requires a borrower to maintain a Times Interest Earned Ratio (TIER) of at least 1.0 during the loan forecast period when the construction is being undertaken. It has become necessary to revise 7 CFR part 1735 to eliminate this requirement. This proposed change would not constitute a loan security issue for the Agency because the borrower would still be required to maintain the prescribe TIER at the end of the forecast period (i.e. end of the construction period). The Agency believes that the proposed change will eliminate situation where an otherwise financially sound applicant or borrower is denied funding because it could not meet the TIER requirement.
Agency: Department of Agriculture(USDA)	Priority: Substantive, Nonsignificant
RIN Status: First time published in the Unified Agenda	Agenda Stage of Rulemaking: Proposed Rule Stage
Major: No	Unfunded Mandates: No
CFR Citation: 7 CFR 1735
Legal Authority: 7 USC 901

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	11/00/2008

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: Michele L. Brooks Director, Regulations Management Team, RD Innovation Center Department of Agriculture Rural Utilities Service Room 5159 South Building, STOP 1522, 1400 Independence Avenue SW, Washington, DC 20250 Phone:202 690-1078 Email: michele.brooks@wdc.usda.gov