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The Rural Utilities Service (RUS), intends to publish a final rule to update 7 CFR 1710, 1724, 1717, 1724 and 1730 to streamline its procedures for Electric Program borrowers, including: loan application requirements; approval of workplans and load forecasts; use of approved contracts and system design procedures; and reporting requirements. This is round 3 of streamlining updates.

It is expected that the proposed changes will streamline and make more efficient the requirements for applying for Electric Program loans and to streamline the Electric Program’s pre- and post-loan procedures. Specifically, the expected outcomes will: (1) reduce the regulatory burden on Electric Program borrowers; (2) ensure that loan funds will be repaid in the time agreed upon; and (3) that the RUS loans remain adequately secured during their lifetime. The proposed final rule is expected to also reduce the burden on RUS Electric Program staff by reducing the time and resources required to review routine or unnecessary documents. RUS expects that these actions will enhance RUS and customer efficiency, thereby increasing customer satisfaction and service.

To implement these changes, RUS will publish this as a final rule without prior notice. The Administrative Procedure Act exempts from prior notice rules with any actions "relating to agency management or personnel or to public property, loans, grants, benefits, or contracts" (5 U.S.C. 553(a)(2)).