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USDA/RBS | RIN: 0570-AA71 | Publication ID: Fall 2010 |
Title: Rural Microentrepreneur Assistance Program—Section 6022 | |
Abstract: The Food Conservation, and Energy Act of 2008 (2008 Farm Bill) establishes the Rural Microentrepreneur Assistance Program (Section 6022). The 2008 Farm Bill mandates that the Secretary of Agriculture establish a program to make loans and grants to support microentrepreneurs in the development and ongoing success of rural microenterprises. The Act further mandates that entities will used funds borrowed from the Rural Business Service to make microloans of not more than $50,000 to rural microenterprises for eligible purposes; that the Agency will make grants to provide business based training and technical assistance; and that the Agency will provide funding to improve the capacity of rural Microenterprise Development Organizations (MDOs) to provide services to rural microenterprise clients. Upon enactment of the 2008 Farm Bill, a committee was formed to discuss policy, implementation, and processes needed to move the program forward. In mid-January 2009, a listening forum was held at USDA. The object of the listening forum was to allow public comment regarding the statute and to obtain opinions regarding the implementation of the program. The proposed rule was published in October 2009, with a 45-day public comment period. Comments to the proposed rule were reviewed and incorporated into the interim rule which was published on May 28, 2010, with a 60-day comment period. No changes are discussed in this document as it is being written prior to publication of the final rule. This program will require a complete final set of regulations. | |
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 4280-D (To search for a specific CFR, visit the Code of Federal Regulations.) | |
Legal Authority: PL 110-246 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: No | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: No | |
Agency Contact: Lori Pittman Business Loan and Grant Analyst, Program Management Division Department of Agriculture Rural Business-Cooperative Service STOP 3225, 1400 Independence Avenue SW, Washington, DC 20250-3225 Phone:202 720-9815 Fax:202 720-2213 Email: lori.pittman@usda.gov |