[Federal Register Volume 59, Number 36 (Wednesday, February 23, 1994)]
[Unknown Section]
[Page 0]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 94-3957]
[[Page Unknown]]
[Federal Register: February 23, 1994]
-----------------------------------------------------------------------
DEPARTMENT OF AGRICULTURE
Farmers Home Administration
7 CFR Part 1924
Limited Resource Loan Reviews
AGENCY: Farmers Home Administration, USDA.
ACTION: Final rule.
-----------------------------------------------------------------------
SUMMARY: The Farmers Home Administration (FmHA) amends its regulation
with regard to the annual review of borrowers with limited resource
Farm Ownership (FO), Soil and Water (SW), and Operating (OL) loans. The
amendments are necessary to clarify annual review procedures for
limited resource loan borrowers. The intended effect is to reduce the
number of borrowers who are past due for limited resource loan reviews.
EFFECTIVE DATE: February 23, 1994.
FOR FURTHER INFORMATION CONTACT:
Aleta Rhone-Williams, Accounting Policy and Procedures Branch, FmHA,
USDA, Finance Office, 1520 Market Street, St. Louis, Missouri 63103,
telephone 314-539-6026.
SUPPLEMENTARY INFORMATION: This rule is not subject to the provisions
of Executive Order 12866 because it has no impact on FmHA borrowers or
other members of the public. It is the policy of this Department that
rules relating to public property, loans, grants, benefits, or
contracts shall be published for comments, notwithstanding the
exemption in 5 U.S.C. 553 with respect to such rules. This action,
however, is not published for proposed rulemaking because it involves
only internal Agency management and publication for comment is
unnecessary.
Paperwork Reduction Act
The information collection requirements contained in this
regulation have been approved by the Office of Management and Budget
(OMB) under the provisions of 44 U.S.C. Chapter 35 and have been
assigned OMB control number 0575-0061 in accordance with the Paperwork
Reduction Act of 1980 (44 U.S.C. 3507). This final rule does not revise
or impose any new information collection or recordkeeping requirement
from those approved by OMB.
Environmental Impact Statement
This document has been revised in accordance with 7 CFR 1940,
Subpart G, Environmental Program. FmHA has determined that this action
does not constitute a major Federal action significantly affecting the
quality of the human environment and in accordance with the National
Environmental Policy Act of 1969, Public Law 91-190, an environmental
impact statement is not required.
Programs Affected
These programs/activities are listed in the Catalog of Federal
Domestic Assistance under Numbers: 10.406 Farm Operating Loans. 10.407
Farm Ownership Loans. 10.416 Soil and Water Loans.
Intergovernmental Consultation
For the reasons set forth in the final rule related to notice 7 CFR
part 3015, Subpart V, (48 FR 29115, June 24, 1983), Farm Ownership
Loans and Farm Operating Loans are excluded from the scope of Executive
Order 12372, which requires intergovernmental consultation with state
and local officials. The Soil and Water program, however, is subject to
the provisions of Executive Order 12372, which requires
intergovernmental consultation with state and local officials.
List of Subjects in 7 CFR Part 1924
Agriculture, Construction management, Construction and repair,
Energy conservation, Housing, Loan programs--Agriculture, Loan
programs--Housing and community development, Low and moderate income
housing.
Accordingly, part 1924, chapter XVIII, title 7, Code of Federal
Regulations is amended as follows:
PART 1924--CONSTRUCTION AND REPAIR
1. The authority citation for part 1924 continues to read as
follows:
Authority: 7 U.S.C. 1989; 42 U.S.C. 1480; 5 U.S.C. 301; 7 CFR
2.23; 7 CFR 2.70.
Subpart B--Management Advice to Individual Borrowers and Applicants
2. Section 1924.60 is amended by adding the words ``(The date of
the Farm and Home Plan will become the anniversary date for the limited
resource loan review.)'' at the end of paragraph (c)(3); revising the
reference ``paragraph (c)'' to read ``paragraphs (c)(1), (c)(2), and
(c)(4),'' in the first sentence of paragraph (d)(2); and adding the
words ``For borrowers receiving limited resource rates of interest,
complete the initial analysis within the 18-month period after loan
closing and near the end of the borrower's production/marketing cycle
(period of the Farm and Home Plan).'' after the first sentence in
paragraph (d)(2).
Dated: February 4, 1994.
Bob Nash,
Under Secretary, Small Community and Rural Development.
[FR Doc. 94-3957 Filed 2-22-94; 8:45 am]
BILLING CODE 3410-07-M
