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SBA | RIN: 3245-AG04 | Publication ID: Fall 2011 |
Title: 504 Regulatory Enhancements | |
Abstract: SBA proposes to revise the regulations for the Agency's 504 Certified Development Company (CDC) Loan Program in order to (1) simplify processes and reduce the regulatory burdens on program participants while maintaining appropriate controls to mitigate risk; (2) increase opportunities for other nonprofit economic development entities to participate in the program either as independent CDCs or affiliates of CDCs, especially in communities not currently served; (3) expand the area of operations for CDCs from statewide to regional; (4) hold CDC Board of Directors more accountable for the CDCs economic development, financial strength, executive compensation and portfolio performance; (5) clarify current regulations; and (6) update the regulations with statutory requirements. | |
Agency: Small Business Administration(SBA) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Proposed Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 13 CFR 120 | |
Legal Authority: 15 USC 695 et seq |
Legal Deadline:
None |
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Timetable:
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Additional Information: Includes Retrospective Review under Executive Order 13563 with small business burden reduction. | |
Regulatory Flexibility Analysis Required: Yes | Government Levels Affected: None |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Andrew B. McConnell Jr. Chief, 504 Loan Program, Office of Financial Assistance Small Business Administration 409 Third Street SW., Washington, DC 20416 Phone:202 205-7238 Email: andrew.mcconnell@sba.gov |