View Rule
View EO 12866 Meetings | Printer-Friendly Version Download RIN Data in XML |
USDA/RUS | RIN: 0572-AC56 | Publication ID: Spring 2021 |
Title: ●Changes to 7 CFR 5001--OneRD Guarantee Loan Regulation | |
Abstract:
The Rural Housing Service (RHS), the Rural Business-Cooperative Service (RBCS), and the Rural Utilities Service (RUS), agencies of the Rural Development mission area, hereinafter referred to as the Agency, published a final rule with comment on July 14, 2020 (85 FR 42494) that created a unified guaranteed loan platform for enhanced delivery of four existing guaranteed loan programs: Community Facilities (CF) administered by RHS; Water and Waste Disposal (WWD) administered by RUS; and Business and Industry (B&I) and Rural Energy for America (REAP) administered by the RBCS. The final rule was effective on October 1, 2020, and Rural Development began operating under the new guarantee loan platform. Collectively, Rural Development’s guaranteed loan programs work to assist in building and maintaining sustainable rural communities. Through the public comment period and monthly office hours with lenders and staff, the Agency has solicited feedback on the requirements and policies contained in the rule implemented on October 1, 2020. The Agency has identified areas for revision or clarification and plan is to issue a second final rule with comment to make amendments to the regulation. The second OneRD final rule with comment incorporates revisions intended to simplify, clarify, improve, expand and enhance the delivery of the four guaranteed loan programs. These provisions include, among others, clearly defining specific project eligibility criteria, revising the requirements for lenders to participate in the programs, and streamlining the documentation requirements for submission of guaranteed loan applications.
|
|
Agency: Department of Agriculture(USDA) | Priority: Substantive, Nonsignificant |
RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: No | Unfunded Mandates: No |
CFR Citation: 7 CFR 5001 | |
Legal Authority: 5 U.S.C. 301 7 U.S.C. 1926(a) 7 U.S.C. 1932(a) 7 U.S.C. 8107 |
Legal Deadline:
None |
||||||
Timetable:
|
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 | |
Related RINs: Related to 0572-AC43 | |
Agency Contact: Thomas P. Dickson Department of Agriculture 1400 Independence Avenue SW, Washington, DC 20250 Phone:202 690-4492 Email: thomas.dickson@wdc.usda.gov |