16770 Federal Register / Vol. 60, No. 63 / Monday, April 3, 1995 / Rules and Regulations

Tons

(7) Increase to encourage increased sales (5 percent of Item 6) ................................................................................................... 208

(8) Less declared carryin as of July 1, 1994, not subject to regulation .......................................................................................... 603

(9) Adjusted Inshell Trade Demand ................................................................................................................................................. 3,775

(10) 15 percent of the average trade acquisitions of inshell filberts/hazelnuts for three prior years (Item 6) ................................ 626

(11) Adjusted Inshell Trade Demand plus 15 percent for carryout (Item 9 plus Item 10) .............................................................. 4,401

Free Restricted

Percentages:

(12) Interim final percentages (Item 9 divided by Item 5) ×100 ............................................................................... 19 81

(13) Final percentages (Item 11 divided by Item 5) ×100 ........................................................................................ 23 77

In addition to complying with the

provisions of the marketing order, the

Board also considered the Department’s

1982 ‘‘Guidelines for Fruit, Vegetable,

and Specialty Crop Marketing Orders’’

(Guidelines) when making its

computations in the marketing policy.

The volume control regulation provides

a method to collectively limit the

supply of inshell filberts/hazelnuts

available for sale in domestic markets.

The Guidelines provide that the

domestic inshell market have available

a quantity equal to 110 percent of prior

years’ shipments in those outlets before

secondary market allocations are

approved. This provides for plentiful

supplies for consumers and for market

expansion while retaining the

mechanism for dealing with oversupply

situations. At its August 25, 1994,

meeting, the Board recommended that

an increase of 5 percent (208 tons) for

market expansion be included in the

inshell trade demand. The established

final percentages, which release 100

percent of the inshell trade demand,

will make available 4,401 tons from the

1994 crop plus 603 tons of declared

carryin which is 120 percent of prior

years’ sales, thus exceeding the goal of

the Guidelines.

Based on these considerations, the

Administrator of the AMS has

determined that this action will not

have a significant economic impact on

a substantial number of small entities.

After consideration of all relevant

material presented, the information and

recommendations submitted by the

Committee, and other information, it is

found that finalizing the interim final

rule, without change, as published in

the Federal Register (60 FR 5561,

January 30, 1995), will tend to effectuate

the declared policy of the Act.

List of Subjects in 7 CFR Part 982

Filberts, Hazelnuts, Marketing

agreements, Nuts, Reporting and

recordkeeping requirements.

For the reasons set forth in the

preamble, 7 CFR part 982 is amended as

follows:

PART 982—FILBERTS/HAZELNUTS

GROWN IN OREGON AND

WASHINGTON

Accordingly, the interim final rule

amending 7 CFR part 982, which was

published at 60 FR 5561 on January 30,

1995, is adopted as a final rule without

change.

Dated: March 28, 1995.

Sharon Bomer Lauritsen,

Deputy Director, Fruit and Vegetable Division.

[FR Doc. 95–8100 Filed 3–31–95; 8:45 am]

BILLING CODE 3410–02–W

7 CFR Part 985

[Docket No. FV95–985–1IFR]

Spearmint Oil Produced in the Far

West; Expenses and Assessment Rate

for the 1995–96 Fiscal Year

AGENCY: Agricultural Marketing Service,

USDA.

ACTION: Interim Final Rule with Request

for comments.

SUMMARY: This interim final rule

authorizes expenses and establishes an

assessment rate for the Spearmint Oil

Administrative Committee (Committee)

under Marketing Order No. 985 for the

1995–96 fiscal year. Authorization of

this budget enables the Committee to

incur expenses that are reasonable and

necessary to administer this program.

Funds to administer this program are

derived from assessments on handlers.

DATES: Effective beginning June 1, 1995,

through May 31, 1996. Comments

received by May 3, 1995 will be

considered prior to issuance of a final

rule.

ADDRESSES: Interested persons are

invited to submit written comments

concerning this interim final rule.

Comments must be sent in triplicate to

the Docket Clerk, Fruit and Vegetable

Division, AMS, USDA, P.O. Box 96456,

room 2523–S, Washington, D.C. 20090–

6456; Fax # (202) 720–5698. Comments

should reference the docket number and

the date and page number of this issue

of the Federal Register and will be

available for public inspection in the

Office of the Docket Clerk during regular

business hours.

FOR FURTHER INFORMATION CONTACT:

Caroline C. Thorpe, Marketing Order

Administration Branch, Fruit and

Vegetable Division, AMS, USDA, P.O.

Box 96456, room 2523–S, Washington,

D.C. 20090–6456, telephone: (202) 720–

5127; or Robert Curry, Northwest

Marketing Field Office, Fruit and

Vegetable Division, AMS, USDA, 1220

SW. Third Avenue, room 369, Portland,

Oregon 97204, telephone: (503) 326–

2724.

SUPPLEMENTARY INFORMATION: This

interim final rule is issued under

Marketing Agreement and Order No.

985 (7 CFR Part 985), regulating the

handling of spearmint oil produced in

the Far West. The marketing agreement

and order are effective under the

Agricultural Marketing Agreement Act

of 1937, as amended (7 U.S.C. 601–674),

hereinafter referred to as the Act.

The Department of Agriculture

(Department) is issuing this rule in

conformance with Executive Order

12866.

This interim final rule has been

reviewed under Executive Order 12778,

Civil Justice Reform. Under the

marketing order provisions now in

effect, spearmint oil produced in the Far

West is subject to assessments. It is

intended that the assessment rate

specified herein will be applicable to all

assessable oil produced during the

1995–96 fiscal year, beginning June 1,

1995, through May 31, 1996. This

interim final rule will not preempt any

State or local laws, regulations, or

policies, unless they present an

irreconcilable conflict with this rule.

The Act provides that administrative

proceedings must be exhausted before

parties may file suit in court. Under

section 608c(15)(A) of the Act, any

handler subject to an order may file

with the Secretary a petition stating that

the order, any provision of the order, or

any obligation imposed in connection

with the order is not in accordance with
Federal Register / Vol. 60, No. 63 / Monday, April 3, 1995 / Rules and Regulations 16771

law and requesting a modification of the

order or to be exempted therefrom. Such

handler is afforded the opportunity for

a hearing on the petition. After the

hearing the Secretary would rule on the

petition. The Act provides that the

district court of the United States in any

district in which the handler is an

inhabitant, or has his or her principal

place of business, has jurisdiction in

equity to review the Secretary’s ruling

on the petition, provided a bill in equity

is filed not later than 20 days after date

of the entry of the ruling.

Pursuant to the requirements set forth

in the Regulatory Flexibility Act (RFA),

the Administrator of the Agricultural

Marketing Service (AMS) has

considered the economic impact of this

rule on small entities.

The purpose of the RFA is to fit

regulatory actions to the scale of

business subject to such actions in order

that small businesses will not be unduly

or disproportionately burdened.

Marketing orders issued pursuant to the

Act, and rules issued thereunder, are

unique in that they are brought about

through group action of essentially

small entities acting on their own

behalf. Thus, both statutes have small

entity orientation and compatibility.

There are 8 handlers of spearmint oil

regulated under the marketing order

each season and approximately 260

spearmint oil producers in the Far West.

Small agricultural producers have been

defined by the Small Business

Administration (13 CFR 121.601) as

those having annual receipts of less than

$500,000, and small agricultural service

firms are defined as those whose annual

receipts are less than $5,000,000. A

minority of these producers and

handlers may be classified as small

entities.

The marketing order, administered by

the Department, requires that the

assessment rate for a particular fiscal

year apply to all assessable spearmint

oil handled from the beginning of such

year. Annual budgets of expenses are

prepared by the Committee, the agency

responsible for local administration of

this marketing order, and submitted to

the Department for approval. The

members of the Committee are handlers

and producers of spearmint oil. They

are familiar with the Committee’s needs

and with the costs for goods, services,

and personnel in their local area, and

are thus in a position to formulate

appropriate budgets. The Committee’s

budget is formulated and discussed in a

public meeting. Thus, all directly

affected persons have an opportunity to

participate and provide input.

The assessment rate recommended by

the Committee is derived by dividing

the anticipated expenses by expected

shipments of spearmint oil. Because that

rate is applied to actual shipments, it

must be established at a rate which will

provide sufficient income to pay the

Committee’s expected expenses.

The Committee met on February 22,

1995, and unanimously recommended a

total expense amount of $233,272 for its

1995–96 budget. This is $4,567 less in

expenses than the 1994–95 budget.

The Committee also unanimously

recommended an assessment rate of

$.10 per pound for the 1995–96 fiscal

year, which is $.01 more than the

assessment rate from the 1994–95 fiscal

year. The assessment rate, when applied

to anticipated shipments of 2,000,000

pounds from the 1995–96 spearmint oil

production, would yield $200,000.00 in

assessment income. This, along with

approximately $24,272 from the

Committee’s authorized reserves, and

$9,000 interest will be adequate to cover

estimated expenses.

Major expense categories for the

1995–96 fiscal year include $101,300 for

salaries, $20,000 for market

development, and $23,000 for travel.

Funds in the reserve at the beginning of

the 1995–96 fiscal year are estimated at

$160,000, which is within the maximum

permitted by the order of one fiscal

year’s expenses.

While this action will impose some

additional costs on handlers, the costs

are in the form of uniform assessments

on all handlers. Some of the additional

costs may be passed on to producers.

However, these costs should be

significantly offset by the benefits

derived from the operation of the

marketing order. Therefore, the

Administrator of the AMS has

determined that this action will not

have a significant economic impact on

a substantial number of small entities.

After consideration of all relevant

matter presented, including the

information and recommendations

submitted by the Committee and other

available information, it is hereby found

that this rule as hereinafter set forth will

tend to effectuate the declared policy of

the Act.

Pursuant to 5 U.S.C. 553, it is also

found and determined upon good cause

that it is impracticable, unnecessary,

and contrary to the public interest to

give preliminary notice prior to putting

this rule into effect because: (1) The

Committee needs to have sufficient

funds to pay its expenses which are

incurred on a continuous basis; (2) the

1995–96 fiscal year starts on June 1,

1995, and the marketing order requires

that the rate of assessment for the fiscal

year apply to all assessable spearmint

oil handled during the fiscal year; (3)

handlers are aware of this rule which

was recommended by the Committee at

a public meeting; and (4) this interim

final rule provides a 30-day comment

period, and all comments timely

received will be considered prior to

finalization of this rule.

List of Subjects in 7 CFR Part 985

Marketing agreements, Oils and fats,

Reporting and recordkeeping

requirements, Spearmint oil.

For the reasons set forth in the

preamble, 7 CFR part 985 is amended as

follows:

PART 985—MARKETING ORDER

REGULATING THE HANDLING OF

SPEARMINT OIL PRODUCED IN THE

FAR WEST

1. The authority citation for 7 CFR

Part 985 continues to read as follows:

Authority: 7 U.S.C. 601–674.

Note: This section will not appear in the

annual Code of Federal Regulations.

2. A new § 985.315 is added to read

as follows:

§ 985.315 Expenses and assessment rate.

Expenses of $233,272.00 by the

Spearmint Oil Administrative

Committee are authorized and an

assessment rate of $.10 per pound of

assessable spearmint oil is established

for the fiscal year ending May 31, 1996.

Unexpended funds may be carried over

as a reserve.

Dated: March 28, 1995.

Sharon Bomer Lauritsen,

Deputy Director, Fruit and Vegetable Division.

[FR Doc. 95–8099 Filed 3–31–95; 8:45 am]

BILLING CODE 3410–02–W

FEDERAL RESERVE SYSTEM

12 CFR Part 226

[Regulation Z; Docket No. R–0863]

Truth in Lending

AGENCY: Board of Governors of the

Federal Reserve System.

ACTION: Final rule; official staff

interpretation.

SUMMARY: The Board is publishing

revisions to the official staff

commentary to Regulation Z (Truth in

Lending). The commentary applies and

interprets the requirements of

Regulation Z. The revisions clarify

regulatory provisions and provide

further guidance on issues of general

interest, such as the treatment of various

fees and taxes associated with real

estate-secured loans and a creditor’s