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[Federal Register Volume 89, Number 236 (Monday, December 9, 2024)]
[Rules and Regulations]
[Page 97477]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28031]

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DEPARTMENT OF AGRICULTURE

Rural Utilities Service

Rural Housing Service

Rural Business-Cooperative Service

7 CFR Part 5001

[Docket No. RUS-19-Agency-0030]
RIN 0572-AC56

OneRD Guaranteed Loan Regulation

AGENCY: Rural Business-Cooperative Service, Rural Housing Service, 
Rural Utilities Service, USDA.

ACTION: Final rule, correction and correcting amendments.

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SUMMARY: On September 30, 2024, Rural Development's Rural Business-
Cooperative Service, Rural Housing Service, and Rural Utilities 
Service, agencies of the United States Department of Agriculture 
(USDA), published a final rule with comment for the OneRD Guarantee 
Loan Program (OneRD). The final rule made necessary revisions to the 
policy and procedures that strengthened the oversight and management of 
the growing Community Facilities, Water and Waste Disposal, Business 
and Industry, and Rural Energy for America guarantee portfolios. The 
final rule had a misspelled subject heading in the preamble. The final 
rule also contained information in an instruction that was not 
ultimately in the final rule, an incomplete definition of affiliate, 
and a misstatement regarding protective advances. This document 
corrects the final regulation.

DATES: This rule is effective December 9, 2024.

ADDRESSES: Address all comments concerning this correction to Susan 
Woolard, Regulations Management Division, Rural Development Innovation 
Center, U.S. Department of Agriculture, 1400 Independence Ave. SW, Stop 
1522, Washington, DC 20250; telephone (202) 720-9631; email 
[email protected].

FOR FURTHER INFORMATION CONTACT: Susan Woolard, Regulations Management 
Division, Rural Development Innovation Center, U.S. Department of 
Agriculture, 1400 Independence Ave. SW, Stop 1522, Washington, DC 
20250; telephone (202) 720-9631; email [email protected].

SUPPLEMENTARY INFORMATION: Rural Development's Rural Business-
Cooperative Service, Rural Housing Service, and Rural Utilities Service 
are issuing corrections to the final rule that published September 30, 
2024, at 89 FR 79698.

List of Subjects in 7 CFR Part 5001

    Business and industry, Community facility, Energy efficiency 
improvement, Loan programs, Renewable energy, Rural areas, Rural 
development, Water and waste disposal.

    In FR Doc. 2024-21920 published September 30, 2024, beginning on 
page 79698, make the following corrections:

0
1. On page 79699, in the third column, item 11, the title is corrected 
to read ``11. Sec.  5001.116 Ineligible CF Projects''.

0
2. On page 79702, in the third column, item 39a, is corrected to read:
0
a. Sec.  5001.516(c) is updated to inform lenders that payment of real 
estate taxes is considered a protective advance but does not require 
advanced Agency approval.

0
3. On page 79704, in the third column, Instruction 4 for Sec.  5001.3, 
is corrected by removing the words ``commercially available''.

0
4. On page 79711, in the second column, Instruction 14 is corrected to 
read:
0
14. Amend Sec.  5001.106 by revising the first sentence of the 
introductory text, paragraphs (d)(2), (e)(2) and (e)(3) introductory 
text to read as follows:
    For the reasons discussed in the preamble, 7 CFR 5001 is corrected 
by making the following correcting amendments:

PART 5001--GUARANTEED LOANS.

0
1. The authority citation for part 5001 continues to read as follows:

    Authority:  5 U.S.C. 301; 7 U.S.C. 1926(a); 7 U.S.C. 1932(a); 
and 7 U.S.C. 8107.

0
2. Amend Sec.  5001.3 by revising the definition of ``affiliate'' to 
read as follows:

Sec.  5001.3  Definitions.

* * * * *
    Affiliate means a person that is connected with or controlled by 
another organization. Factors such as ownership, management, current 
and previous relationships with or ties to another person, and 
contractual relationships, may be considered in determining whether 
affiliation exists. Affiliation is determined using the principles 
outlined in 13 CFR 121.301(f).
* * * * *

0
3. Amend Sec.  5001.516 by revising paragraph (c) to read as follows:

Sec.  5001.516  Protective advances.

* * * * *
    (c) A lender must obtain written Agency approval for any protective 
advance that will cumulatively amount to more than $200,000, or 10 
percent of the aggregate outstanding balance of principal and interest, 
whichever is less, to the same borrower. Payment of real estate taxes 
by the lender is considered a protective advance, subject to the 
requirements of this section, and does not require Agency advance 
approval.

Basil I. Gooden,
Deputy Under Secretary, Rural Development.
[FR Doc. 2024-28031 Filed 12-6-24; 8:45 am]
BILLING CODE 3410-15-P
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