Rule2023-26751
Guaranteed Loanmaking and Servicing Regulations
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
December 14, 2023
Effective
December 14, 2023
Issuing agencies
Agriculture DepartmentRural Business-Cooperative Service
Abstract
The Rural Business- Cooperative Service (RB-CS or Agency), a Rural Development (RD) agency of the United States Department of Agriculture (USDA), is publishing a stay of effective date for the final rule published in the Federal Register on November 24, 2023. The stay of the effective date for 60-days as provided in this notification will bring the final rule into compliance with the Congressional Review Act. This notification also corrects the reference to Executive Order 12866, Regulatory Planning and Review, which the final rule was determined to be significant.
Full Text
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<title>Federal Register, Volume 88 Issue 239 (Thursday, December 14, 2023)</title>
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[Federal Register Volume 88, Number 239 (Thursday, December 14, 2023)]
[Rules and Regulations]
[Page 86566]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26751]
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DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service
7 CFR Part 4279
[Docket No. RBS-20-BUSINESS-0016]
RIN 0570-AB07
Guaranteed Loanmaking and Servicing Regulations
AGENCY: Rural Business-Cooperative Service, USDA.
ACTION: Final rule; correction and stay of effectiveness.
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SUMMARY: The Rural Business- Cooperative Service (RB-CS or Agency), a
Rural Development (RD) agency of the United States Department of
Agriculture (USDA), is publishing a stay of effective date for the
final rule published in the Federal Register on November 24, 2023. The
stay of the effective date for 60-days as provided in this notification
will bring the final rule into compliance with the Congressional Review
Act. This notification also corrects the reference to Executive Order
12866, Regulatory Planning and Review, which the final rule was
determined to be significant.
DATES: The correction is effective December 14, 2023. Effective
December 14, 2023, 7 CFR 4279.190(a), (c)(1) through (3) and (5),
(d)(1) through (3), (h), (k)(1) through (3), (m) introductory text, and
(m)(4) are stayed until February 12, 2024.
FOR FURTHER INFORMATION CONTACT: Mark Brodziski, Deputy Administrator,
Rural Business and Cooperative Service, Rural Development, U.S.
Department of Agriculture, 1400 Independence Avenue SW, Stop
Washington, DC 20250-3221; email: <a href="/cdn-cgi/l/email-protection#610c00130a4f03130e051b08120a0821141205004f060e17"><span class="__cf_email__" data-cfemail="325f5340591c50405d56485b41595b72474156531c555d44">[email protected]</span></a>; telephone
(202) 205-0903.
SUPPLEMENTARY INFORMATION: On November 24, 2023, RBCS issued a final
rule which published in the Federal Register [88 FR 82225] entitled
``Guaranteed Loanmaking and Servicing Regulations.'' This final rule
updates the B&I CARES Act Program Loans, as implemented in 7 CFR part
4279--Guaranteed Loan Making and 7 CFR part 4287--Servicing and as
published in the Federal Register on May 22, 2020, as an interim rule.
The final rule that published on November 24, 2023 incorrectly stated
that the effective date was November 24, 2023. Since this final rule
has been reviewed by the Office of Management and Budget and it is
determined to be ``Significant'' under Section 3(f)(1) of Executive
Order 12866, the Congressional Review Act (CR) requires a 60-day delay
from date of publication in the Federal Register. This stay of the
final rule for 60-days as provided in this notification will bring the
final rule into compliance with the CRA.
This rulemaking also corrects the Executive Order 12866, Regulatory
Planning and Review, which the final rule was determined to be
significant.
Correction
In FR Doc. 2023-25908 (88 FR 82225) appearing on pages 82225 and
82227 in the Federal Register of Friday, November 24, 2023, the
following correction is made:
Executive Order 12866, Regulatory Planning and Review [Corrected]
1. On page 82227, in the first column, under Executive Order 12866,
Regulatory Planning and Review, is corrected to read: This final rule
has been reviewed by the Office of Management and Budget and is
determined to be ``Significant'' under Section 3(f)(1) of Executive
Order 12866. A ``significant regulatory action'' means any regulatory
action that is likely to result in a rule that may: ``have an annual
effect on the economy of $200 million or more (adjusted every 3 years
by the Administrator of OIRA for changes in gross domestic product); or
will adversely affect in a material way the economy, a sector of the
economy, productivity, competition, jobs, the environment, public
health or safety, or State, local, or tribal governments or
communities.''
Karama Neal,
Administrator, Rural Business-Cooperative Service.
[FR Doc. 2023-26751 Filed 12-13-23; 8:45 am]
BILLING CODE 3410-XY-P
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