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This rule will remove certain regulations governing the PRIME grant program, which was established in 1999. SBA has not amended the regulations for the program since they were first published in 2001. At that time, Grants.gov had not been established, and OMB had not yet issued its standard grants guidance, OMB Uniform Administrative Requirements, Cost Principles, and Audit Requirements for Federal Awards, 2 CFR part 200. The PRIME regulations are duplicative of the Government-wide principles since they do not add anything that is not covered by those principles. Therefore, SBA has determined that the Government-wide principles provide adequate guidance to PRIME grantees on meeting their obligations under the grant award. In addition, the Program Announcement and Notice of Award both provide detailed guidance for implementing the grant requirements, including how to comply with the reporting, recordkeeping, and other operational requirements associated with an award. Removing the regulations will eliminate the risks of having inconsistent guidance, which could lead to confusion and operational and enforceability issues.