42494 Federal Register / Vol. 85, No. 135 / Tuesday, July 14, 2020 / Rules and Regulations DEPARTMENT OF AGRICULTURE docket number or RIN for this FIRREA Financial Institutions Reform, rulemaking. All comments received will Recovery and Enforcement Act of 1989 Rural Utilities Service be posted without change to https:// FR Federal Register www.regulations.gov, including any FSRIA Farm Security and Rural Investment Rural Housing Service Act of 2002 personal information provided. GAAP Generally accepted accounting Docket: For access to the docket to principles Rural Business-Cooperative Service read background documents or GPO Government Printing Office comments received, go to https:// ICBA Independent Community Bankers of 7 CFR Parts 1779, 3575, 4279, 4287, www.regulations.gov. America and 5001 LNG Loan Note Guarantee FOR FURTHER INFORMATION CONTACT: NEPA National Environmental Policy Act [Docket No. RUS–19-Agency–0030] Thomas P. Dickson, Regulations NMTC New Markets Tax Credit Management Division Team 2, Rural RIN 0572–AC43 OGC Office of General Counsel Development Innovation Center, U.S. OMB Office of Management and Budget OneRD Guaranteed Loan Regulation Department of Agriculture, 1400 OneRD OneRD Guaranteed Loan Program Independence Ave. SW, Stop 1522, PER Preliminary Engineering Reports AGENCY: Rural Business-Cooperative Washington, DC 20250; telephone 202– QALICB Qualified Active Low Income Service, Rural Housing Service, Rural 690–4492; email thomas.dickson@ Community Business Utilities Service, USDA. RD Rural Development usda.gov. REAP Rural Energy for America Program ACTION: Final rule; request for SUPPLEMENTARY INFORMATION: RFA Regulatory Flexibility Act comments. RMA Risk Management Association Table of Contents for Preamble SAM System for Award Management SUMMARY: The Rural Business- § Section Cooperative Service, Rural Housing I. Abbreviations II. Background TBSE Tangible Balance Sheet Equity Service, and the Rural Utilities Service, A. Rural Development’s Mission. UMRA Unfunded Mandates Reform Act agencies of the Rural Development B. Composition of the OneRD Guaranteed 1995 mission area within the U.S. Loan Program U.S.C. United States Code Department of Agriculture (USDA), 1. Community Facilities Guaranteed Loan USDA U.S. Department of Agriculture hereinafter collectively referred to as the Program USPAP Uniform Standards of Professional Appraisal Practice Agency, are proposing a unified 2. Water and Waste Disposal Guaranteed guaranteed loan platform for enhanced Loan Program II. Background delivery of four of its existing 3. Business and Industry Guaranteed Loan Program Through this regulation, Rural guaranteed loan programs: Community 4. Rural Energy for America Program Development (RD) is consolidating and Facilities (CF) administered by the Rural 5. Similarities Between the Four standardizing the rules associated with Housing Service; Water and Waste Guaranteed Loan Programs making and servicing of four guaranteed Disposal (WWD) administered by the III. Basis and Purpose loan programs. The new regulation Rural Utilities Service; and, Business IV. Discussion of the Rule eliminates existing regulations in six and Industry (B&I) and Rural Energy for A. Organization of the Rule B. Delivery of the OneRD Guaranteed Loan areas: 7 CFR part 3575, subpart A which America (REAP) administered by the is the existing regulation for making and Rural Business-Cooperative Service. Program C. Changes of Note servicing Community Facilities (CF) Collectively, these four Rural V. Public Participation and Discussion of guaranteed loans; 7 CFR part 1779 Development’s guaranteed loan Comments From Listening Sessions which is the existing regulation for programs work to assist in building and VI. Regulatory Impact Analyses making and servicing Water and Waste maintaining sustainable rural A. Executive Orders 12866 and 13563 Disposal (WWD) guaranteed loans; 7 communities. This rule incorporates B. Unfunded Mandates Reform Act CFR part 4279, subparts A and B which new and revised provisions intended to C. Environmental Impact Statement D. Executive Order 12988, Civil Justice are the existing regulations for making simplify, improve, expand and enhance Business and Industry (B&I) guarantee the delivery of the four guaranteed loan Reform E. Executive Order 13132, Federalism loans; 7 CFR part 4280, subpart B which programs. These provisions include, F. Regulatory Flexibility Act Certification is the existing regulation for making among others, clearly defining specific G. Executive Order 12372, Rural Energy for America (REAP) project eligibility criteria, revising the Intergovernmental Consultation guarantee loans; and, 7 CFR 4287 requirements for lenders to participate H. Executive Order 13175, Consultation subpart B which is the existing in the programs, and streamlining the and Coordination With Indian Tribal regulation for servicing B&I and REAP documentation requirements for Governments I. Programs Affected guarantee loans. This regulation submission of guaranteed loan replaces those removed sections with applications. J. Catalog of Federal Domestic Assistance K. Paperwork Reduction Act and the OneRD guarantee loan regulation DATES: Recordkeeping Requirements (‘‘OneRD’’), a unified regulation for Effective date: This final rule is L. E-Government Act Compliance making and servicing the four effective October 1, 2020. M. Civil Rights Impact Analysis guaranteed loan programs, codified at 7 Comment date: Comments are due I. Abbreviations CFR 5001. To ensure that the drafting of September 14, 2020. OneRD was a customer-centric process, ADDRESSES: You may submit comments, CDE Community Development Entity the Agency invited public input through identified by docket number RUS–19- CFDA Catalog of Federal Domestic six listening sessions and a Human Agency–0030 and Regulatory Assistance Experience Lab. The public CFR Code of Federal Regulations Information Number (RIN) number CONAct Consolidated Farm and Rural participation provided input on ways to 0572–AC43 through https:// Development Act simplify, improve, enhance and expand www.regulations.gov. FCRA Federal Credit Reform Act of 1990 the delivery of the four guarantee Instructions: All submissions received FDIC Federal Deposit Insurance programs. Through this process, the must include the Agency name and Corporation Agency identified eight broad areas of VerDate Sep<11>2014 18:36 Jul 13, 2020 Jkt 250001 PO 00000 Frm 00002 Fmt 4701 Sfmt 4700 E:\FR\FM\14JYR2.SGM 14JYR2 Federal Register / Vol. 85, No. 135 / Tuesday, July 14, 2020 / Rules and Regulations 42495 improvement on which to focus its areas and towns with a population of up that has a population of more than efforts: Community impact; Agency staff to 50,000, depending on the level of 50,000 inhabitants, according to the training and empowerment; enabling appropriated funding for a respective latest decennial census of the United technology; USDA-lender relationship; fiscal year. Loan funds may be used to States and not in the urbanized area simplicity and consistency; speed of construct, enlarge, extend or otherwise contiguous and adjacent to a city or approval process; communication and improve essential community facilities town that has a population of more than transparency; and marketing and including health care, public safety, and 50,000 inhabitants. outreach. Comments and Agency public services. Eligible borrowers • Lenders requesting loan guarantees responses to comments received are include public entities, such as from the Agency under OneRD must provided in section V. Public municipalities, counties, special- meet the definition of either a regulated Participation and Discussion of purpose districts, Indian tribes, and not- lending entity or a non-regulated Comments from Listening Sessions. for-profit corporations who are unable lending entity as specified in to obtain commercial credit at § 5001.130. A. Rural Development’s Mission reasonable rates and terms without the • A borrower works with a lender to By statutory authority, Rural Federal Government’s guarantee. obtain a loan for a project eligible under Development is an advocate for rural (2) Water and Waste Disposal one or more of the four programs, America, administering a multitude of Guaranteed Loan Program. The Water providing the lender with necessary programs, ranging from housing and and Waste Disposal Guaranteed Loan information on the borrower and the community facilities to infrastructure program guarantees loans to construct, project. and business development. The enlarge, extend or otherwise improve • A lender evaluates borrower and Agency’s mission is to increase water and waste disposal systems, project eligibility and performs a economic opportunity and improve the including wastewater treatment, solid detailed credit evaluation and, as quality of life in rural communities by waste disposal, and storm drainage, in applicable, an economic or financial providing the leadership, infrastructure, rural areas and in cities and towns with analysis of the project to ensure that the capital, and technical support that a population of up to 50,000. Eligible borrower will be able to repay the loan. enables rural communities to prosper. borrowers include public entities, such • A lender applies to the Agency for To achieve its mission, the Agency as municipalities, counties, special- a loan guarantee and submits the credit provides financial support, including purpose districts, and Indian tribes, as evaluation for the project and borrower, loan guarantees,