cfr_sections
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27 rows where part_number = 1703 sorted by section_id
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| section_id ▼ | title_number | title_name | chapter | subchapter | part_number | part_name | subpart | subpart_name | section_number | section_heading | agency | authority | source_citation | amendment_citations | full_text |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10:10:5.0.5.5.2.0.46.1 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.101 Scope. | DNFSB | This part contains the Board's regulations implementing the Freedom of Information Act, 5 U.S.C. 552. | |||||||
| 10:10:5.0.5.5.2.0.46.10 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.110 Requests for classified records. | DNFSB | The Board may at any time be in possession of classified records and Unclassified Controlled Nuclear Information (UCNI) received from the Department of Energy or other federal agencies. The Board shall refer requests under § 1703.105 for such records or information to the Department of Energy or other originating agency without making an independent determination as to the releasability of such documents. The Board shall refer requests for classified records in a manner consistent with Executive Order 12356, “National Security Information,” 3 CFR, 1982 Comp., p. 166, or any superseding Executive Order. The Board shall refer requests for UCNI in a manner consistent with 42 U.S.C. 2168 and the Department of Energy's implementing regulations in 10 CFR part 1017 or any successor regulations. | |||||||
| 10:10:5.0.5.5.2.0.46.11 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.111 Requests for privileged treatment of documents submitted to the board. | DNFSB | (a) Scope. Any person submitting a document to the Board may request privileged treatment by claiming that some or all of the information contained in the document is exempt from the mandatory public disclosure requirements of FOIA and should otherwise be withheld from public disclosure. (b) Procedures. A person claiming that information is privileged under paragraph (a) of this section must file: (1) An application, accompanied by an affidavit, requesting privileged treatment for some or all of the information in a document, and stating the justification for nondisclosure of the information and addressing the factors set forth in paragraph (e) of this section; (2) The original document, boldly indicating on the front page “Contains Privileged Information—Do Not Release” and identifying within the document the information for which the privileged treatment is sought; (3) Three copies of the redacted document ( i.e., without the information for which privileged treatment is sought) and with a statement indicating that information has been removed for privileged treatment; and (4) The name, title, address, telephone number, and telecopy information of the person or persons to be contacted regarding the request for privileged treatment of documents submitted to the Board. (c) Effect of privilege claim. (1) The Designated FOIA Officer shall place documents for which privileged treatment is sought in accordance with paragraph (b) of this section in a nonpublic file, while the request for confidential treatment is pending. By placing documents in a nonpublic file, the Board is not making a determination on any claim for privilege. The Board retains the right to make determinations with regard to any claim of privilege, and the discretion to release information as necessary to carry out its responsibilities. (2) The Designated FOIA Officer shall place the request for privileged treatment described in paragraph (b)(1) of this section and a copy of the redacted document described in paragraph (b)(3) of this … | |||||||
| 10:10:5.0.5.5.2.0.46.12 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.112 Computation of time. | DNFSB | In computing any period of time under this part, the day of the Board's action is not included. The last day of the period is included unless it is a Saturday, Sunday or legal holiday, in which case the period runs until the end of the next working day. Whenever a person has the right or is required to take some action within a prescribed period after notification by the Board and the notification is made by mail, five days shall be added to the prescribed period. Only two days shall be added when a notification is made by express mail. | |||||||
| 10:10:5.0.5.5.2.0.46.2 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.102 Definitions; words denoting number, gender and tense. | DNFSB | Agency record is a record in the possession and control of the Board that is associated with Board business. Agency records do not include records such as: (1) Publicly available books, periodicals, or other publications that are owned or copyrighted by non-federal sources; (2) Records solely in the possession and control of Board contractors; (3) Personal records in the possession of Board personnel that have not been circulated, were not required by the Board to be created or retained, and may be retained or discarded at the author's sole discretion. In determining whether such records are agency records the Board shall consider whether, and to what extent, the records were used in agency business; (4) Records of a personal nature that are not associated with any Board business; or (5) Non-substantive information in the calendar or schedule books of the Chairman or Members, uncirculated except for typing or recording purposes. Board means the Defense Nuclear Facilities Safety Board. Chairman means the Chairman of the Board. Designated FOIA Officer means the person designated by the Board to administer the Board's activities pursuant to the regulations in this part. The Designated FOIA Officer shall also be the Board officer having custody of or responsibility for agency records in the possession of the Board and shall be the Board officer responsible for authorizing or denying production of records upon requests filed pursuant to § 1703.105. General Counsel means the chief legal officer of the Board. General Manager means the chief administrative officer of the Board. Member means a Member of the Board. In determining the meaning of any provision of this part, unless the context indicates otherwise: the singular includes the plural; the plural includes the singular; the present tense includes the future tense; and words of one gender include the other gender. | |||||||
| 10:10:5.0.5.5.2.0.46.3 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.103 Requests for agency records available through the electronic reading room. | DNFSB | [56 FR 21261, May 8, 1991, as amended at 62 FR 66815, Dec. 22, 1997; 82 FR 30723, July 3, 2017] | (a) The DNFSB will maintain an electronic reading room on its public Web site at https://www.dnfsb.gov / foia-reading-room . Records may be obtained by accessing and downloading them from the electronic reading room. The electronic reading room is intended to provide easy accessibility to a substantial collection of the agency's records. The agency considers the records available through its electronic reading room to have been placed in the public domain. (b) The public records of the agency that are available in the electronic reading room or through links from the electronic reading room include: (1) The Board's rules and regulations; (2) Statements of policy adopted by the Board. (3) Board recommendations; the Secretary of Energy's response, any final decision, and implementation plans regarding Board recommendations; and interested person's comments, data, views, or arguments to the Board concerning its recommendations and the Secretary of Energy's response and final decision; (4) Transcripts of public hearings and any Board correspondence related thereto; (5) Recordings or transcripts of Board meetings that were closed under 10 CFR part 1704, where the Board subsequently determines under 10 CFR 1704.9 that the recordings or transcripts may be made publicly available; (6) Board orders, decisions, notices, and other actions in a public hearing; (7) Board correspondence, except that which is exempt from mandatory public disclosure under § 1703.104; (8) Copies of the filings, certifications, pleadings, records, briefs, orders, judgments, decrees, and mandates in court proceedings to which the Board is a party and the correspondence with the courts or clerks of court; (9) Those of the Board's Administrative Directives that affect members of the public; (10) Index of the documents identified in this section, but not including drafts thereof; and (11) Annual reports to Congress in which the Board's operations during a past fiscal year are described. (12) Copies of records released pursuant to FOIA re… | ||||||
| 10:10:5.0.5.5.2.0.46.4 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.104 [Reserved] | DNFSB | ||||||||
| 10:10:5.0.5.5.2.0.46.5 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.105 Requests for board records not available through the public reading room (FOIA requests). | DNFSB | [56 FR 21261, May 8, 1991, as amended at 62 FR 66815, Dec. 22, 1997] | (a) Upon the request of any person, the Board shall make available for public inspection and copying any reasonably described agency record in the possession and control of the Board, but not available through the Public Reading Room, subject to the provisions of this part. If a member of the public files a request with the Board under the FOIA for records that the Board determines are available through the Public Reading Room, the Board will treat the request under the simplified procedures of § 1703.103. (b)(1) A person may request access to Board records that are not available through the Public Reading Room by using the following procedures: (i) The request must be in writing and must describe the records requested to enable Board personnel to locate them with a reasonable amount of effort. Where possible, specific information regarding dates, titles, file designations, and other information which may help identify the records should be supplied by the requester, including the names and titles of any Board personnel who have been contacted regarding the request prior to the submission of the written request. (ii) A request for all records falling within a reasonably specific and well-defined category shall be regarded as conforming to the statutory requirement that records be reasonably described. The request must enable the Board to identify and locate the records by a process that is not unreasonably burdensome or disruptive of Board operations. (2) The request should be addressed to the Designated FOIA Officer and clearly marked “Freedom of Information Act Request.” The address for such requests is: Designated FOIA Officer, Defense Nuclear Facilities Safety Board, 625 Indiana Avenue, NW., suite 700, Washington, DC 20004. For purposes of calculating the time for response to the request under § 1703.108, the request shall not be deemed to have been received until it is in the possession of the Designated FOIA Officer or his designee. (3) The request must include: (i) A statement by the requester of a w… | ||||||
| 10:10:5.0.5.5.2.0.46.6 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.106 Requests for waiver or reduction of fees. | DNFSB | (a) The Board shall collect fees for record requests made under § 1703.105, as provided in § 1703.107(b), unless a requester submits a request in writing for a waiver or reduction of fees. The Designated FOIA Officer shall make a determination on a fee waiver or reduction request within five working days of the request coming into his possession. No determination shall be made that a fee waiver or reduction request should be denied, until the Designated FOIA Officer has consulted with the General Counsel's Office. If the determination is made that the written request for a waiver or reduction of fees does not meet the requirements of this section, the Designated FOIA Officer shall inform the requester that the request for waiver or reduction of fees is being denied and set forth his appeal rights under § 1703.109. (b) A person requesting the board to waive or reduce search, review, or duplication fees shall: (1) Describe the purpose for which the requester intends to use the requested information; (2) Explain the extent to which the requester will extract and analyze the substantive content of the agency record; (3) Describe the nature of the specific activity or research in which the agency records will be used and the specific qualifications the requester possesses to utilize information for the intended use in such a way that it will contribute to public understanding; (4) Describe the likely impact of disclosure of the requested records on the public's understanding of the subject as compared to the level of understanding of the subject existing prior to disclosure; (5) Describe the size and nature of the public to whose understanding a contribution will be made; (6) Describe the intended means of dissemination to the general public; (7) Indicate if public access to information will be provided free of charge or provided for an access or publication fee; and (8) Describe any commercial or private interest the requester or any other party has in the agency records sought. (c) The Board shall waive or… | |||||||
| 10:10:5.0.5.5.2.0.46.7 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.107 Fees for record requests. | DNFSB | [56 FR 21261, May 8, 1991, as amended at 62 FR 66816, Dec. 22, 1997; 82 FR 30723, July 3, 2017; 89 FR 73260, Sept. 10, 2024] | (a) Fees for records available through the Public Reading Room. (1) With the exception of copies of transcripts of Board public hearings addressed in paragraph (a)(2) of this section, the fees charged shall be limited to costs of duplication of the requested records. The Board shall either duplicate the requested records or have them duplicated by a commercial contractor. If the Board duplicates the records, it shall not charge the requester for the associated labor costs. A schedule of fees for this duplication service shall be prescribed in accordance with paragraph (b)(6) of this section. A person may obtain a copy of the schedule of fees in person or by mail from the Public Reading Room. There shall be no charge for responses consisting of ten or fewer pages. (2) Transcripts of Board public hearings are made by private contractors. Interested persons may obtain copies of public hearing transcripts from the contractor at prices set in the contract, or through the duplication service noted in paragraph (a) of this section, if the particular contract so permits. Copies of the contracts shall be available for public inspection in the Public Reading Room. (3) Requests for certification of copies of official Board records must be accompanied by a fee of $5.00 per document. Inquiries and orders may be made to the Public Reading Room in person or by mail. (b) Fees for records not available through the Public Reading Room (FOIA requests). (1) Definitions. For the purpose of paragraph (b) of this section: Commercial use request means a request from or on behalf of one who seeks information for a use or purpose that furthers commercial, trade, or profit interests as these phrases are commonly known or have been interpreted by the courts in the context of the FOIA; Direct costs mean those expenditures which DNFSB incurs in search, review, and duplication, as applicable to different categories of requesters, to respond to requests under § 1703.105. Direct costs include, for example, the hourly salary and projec… | ||||||
| 10:10:5.0.5.5.2.0.46.8 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.108 Processing of FOIA requests. | DNFSB | [56 FR 21261, May 8, 1991, as amended at 62 FR 66816, Dec. 22, 1997] | (a) Where a request complies with § 1703.105 as to specificity and statement of willingness to pay or request for fee waiver or reduction, the Designated FOIA Officer shall acknowledge receipt of the request and commence processing of the request. The Designated FOIA Officer shall prepare a written response: (1) Granting the request, (2) Denying the request, (3) Granting or denying it in part, (4) Stating that the request has been referred to another agency under § 1703.105, or (5) Informing the requester that responsive records cannot be located or do not exist. (b) Action pursuant to this section to provide access to requested records shall be taken within twenty working days. This time period may be extended up to ten additional working days, in unusual circumstances, by written notice to the requester. If the Board will be unable to satisfy the request in this additional period of time, the requester will be so notified and given the opportunity to— (1) Limit the scope of the request so that it can be processed within the time limit, or (2) Arrange with the Designated FOIA Officer an alternative time frame for processing the original request or a modified request. (c) For purposes of this section and § 1703.109, the term unusual circumstances may include but is not limited to the following: (1) The need to search for and collect the requested records from field facilities or other establishments that are separate from the Board's Washington, DC offices: (2) The need to search for, collect and appropriately examine a voluminous amount of separate and distinct records which may be responsive to a single request; or (3) The need for consultation, which shall be conducted with all practicable speed, with another agency pursuant to § 1703.105(d). (d) If no determination has been made at the end of the ten day period, or the last extension thereof, the requester may deem his administrative remedies to have been exhausted, giving rise to a right of review in a district court of the United States as sp… | ||||||
| 10:10:5.0.5.5.2.0.46.9 | 10 | Energy | XVII | 1703 | PART 1703—PUBLIC INFORMATION AND REQUESTS | § 1703.109 Procedure for appeal of denial of requests for board records and denial of requests for fee waiver or reduction. | DNFSB | [56 FR 21261, May 8, 1991, as amended at 82 FR 30723, July 3, 2017] | (a)(1) A person whose request for access to records in whole or in part may appeal that determination to the General Counsel within 90 days of the determination. A person denied a fee waiver or reduction may appeal that determination to the General Counsel within 30 days. The person may also seek assistance from the FOIA Public Liaison of the agency. Appeals filed pursuant to this section must be in writing, directed to the General Counsel at the address indicated in § 1703.105(b)(2), and clearly marked “Freedom of Information Act Appeal.” Such an appeal received by the Board not addressed and marked as indicated in this paragraph will be so addressed and marked by Board personnel as soon as it is properly identified and then will be forwarded to the General Counsel. (2) The General Counsel shall make a determination with respect to any appeal within 20 working days after the receipt of such appeal. If, on appeal, the denial of the request for records or fee reduction is in whole or in part upheld, the General Counsel shall notify the person making such request of the provisions for judicial review of that determination. (3) The requestor may request that the FOIA Public Liaison refer the denial to be reviewed through dispute resolution services or may request the Office of Government Information Services within the National Archives and Records Administration to review the denial. (b) In unusual circumstances, as defined in § 1703.108(c), the time limits prescribed for deciding an appeal pursuant to this section may be extended by up to ten working days, by the General Counsel, who will send written notice to the requester setting forth the reasons for such extension and the expected determination date. | ||||||
| 7:7:11.1.2.1.2.2.1.1 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | C | Subpart C—Rural Business Incubator Program [Reserved] | §§ 1703.80-1703.99 [Reserved] | RUS | ||||||
| 7:7:11.1.2.1.2.4.1.1 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.300 Purpose. | RUS | [82 FR 55925, Nov. 27, 2017] | This subpart H sets forth RUS' policies and procedures for making loan deferments of principal and interest payments on direct loans or insured loans made for electric or telephone purposes, but not for loans made for rural economic development purposes, in accordance with subsection (b) of section 12 of the RE Act. Loan deferments are provided for the purpose of promoting rural development opportunities. | ||||
| 7:7:11.1.2.1.2.4.1.10 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.309 Terms of repayment of deferred loan payments. | RUS | (a) Deferments made to enable the borrower to provide financing to local businesses will be repaid over a period of 60 months, in equal installments, with payments beginning on the date of the deferment, and continuing in such a manner until the total amount of the deferment is repaid. The deferment payments will be made on either a monthly or quarterly basis depending on the existing repayment terms of the direct loan or insured loan being deferred. The deferment will not accrue interest. (b) In the case of deferments made to enable the borrower to provide community development assistance, technical assistance to businesses, and for other community, business, or economic development projects not included in paragraph (a) of this section, the deferment will be repaid over a period of 120 months, in equal installments, with payments beginning on the date of the deferment and continuing in such a manner until the total amount of the deferment is repaid. The deferment payments will be made on either a monthly or quarterly basis depending on the existing repayment terms of the direct loan or insured loan being deferred. The deferment will not accrue interest. (c) The maturity date of a loan may not be extended as a result of a deferment. (d) If the required payment is not made by the borrower or received by the Administrator when due, the Administrator will reduce the borrower's cushion of credit account established under this subpart in an amount equal to the deferment payment required. (e) The balance in a borrower's cushion of credit account shall not be reduced by the borrower below the level of the unpaid balance of the payment deferred. | |||||
| 7:7:11.1.2.1.2.4.1.11 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.310 Environmental considerations. | RUS | Prospective recipients of funds received from the deferment of loan payments are encouraged to consider the potential environmental impact of their proposed projects at the earliest planning stage and plan development in a manner that reduces, to the extent practicable, the potential to affect the quality of the human environment adversely. | |||||
| 7:7:11.1.2.1.2.4.1.12 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.311 Application procedures for deferment of loan payments. | RUS | (a) A borrower applying for a deferment must: (1) Submit a certified board resolution to the Administrator requesting a deferment of principal and interest. The resolution must: (i) Be signed by the president or vice president of the borrower; (ii) Contain information on the total amount of deferment requested for each specific project; (iii) Contain information on the type of project and the length of deferment requested as defined in § 1703.309; and (iv) Specify which officer of the borrower has been given the authority to certify to those matters required in this section; (2) Submit certification by the appropriate officer to the Administrator that the proposed project will not violate the limitations set forth in § 1703.306 and disclose all information regarding any potential conflict of interest or appearance of a conflict of interest that would allow the Administrator to make an informed decision; (3) Submit certification by the appropriate officer to the Administrator that an investment in the rural development project will be made by the borrower in an amount equal to the deferred debt service payment; (4) Submit certification by the appropriate officer to the Administrator that the amount of the deferment will not exceed 50 percent of the total cost of the project for which the deferment is provided; (5) Submit certification by the appropriate officer to the Administrator that it will make a cushion of credit payment necessary to satisfy the requirement of § 1703.305(a); (6) Submit certification by the appropriate officer to the Administrator that it will comply with § 1703.313 and provide documentation showing that its total investments, including the proposed investment, will not exceed the investment limitations specified in 7 CFR part 1717, Subpart N, Investments, Loans and Guarantees by Electric Borrowers, or 7 CFR Part 1744, Post Loan Policies and Procedures Common to Guaranteed and Insured Loans. The documentation must provide a list of each rural development project the borrower has inv… | |||||
| 7:7:11.1.2.1.2.4.1.13 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.312 RUS review requirements. | RUS | Borrowers shall ensure that funds are invested in the rural development project as approved by RUS. The Administrator reserves the right to review the books and copy records of borrowers receiving loan payment deferments as necessary to ensure that the investments in the rural development project are in accordance with this subpart and the representations and purposes stated in the borrower's completed application. If an audit discloses that the amount deferred was not used for the purposes stated in the completed application, the borrower shall be required to promptly repay the amount deferred and the benefits of the deferment to the borrower will be recaptured by RUS. The borrower is responsible for ensuring that disbursements and expenditures of funds covering the investment in the rural development project are properly supported with certifications, invoices, contracts, bills of sale, cancelled checks, or any other forms of evidence determined appropriate by the Administrator and that such supporting material is available at the borrower's premises for review by the RUS field accountant, borrower's certified public accountant, the Office of Inspector General, the General Accounting Office and any other accountant conducting an audit of the borrower's financial statements for this rural development program. | |||||
| 7:7:11.1.2.1.2.4.1.14 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.313 Compliance with other regulations. | RUS | (a) Investments in a rural economic development project made by an electric borrower under this subpart are subject to the provisions of 7 CFR part 1717, Subpart N, Investments, Loans and Guarantees by Electric Borrowers. (b) Investments in a rural economic development project made by a telephone borrower under this subpart are subject to the provisions of 7 CFR Part 1744, Post Loan Policies and Procedures Common to Guaranteed and Insured Loans. | |||||
| 7:7:11.1.2.1.2.4.1.2 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.301 Policy. | RUS | It is RUS's policy to encourage borrowers to invest in and promote rural development and rural job creation projects that are based on sound economic and financial analyses. Borrowers are encouraged to use this program to promote economic, business and community development projects that will benefit rural areas. | |||||
| 7:7:11.1.2.1.2.4.1.3 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.302 Definitions and rules of construction. | RUS | [58 FR 21639, Apr. 23, 1993, as amended at 59 FR 66440, Dec. 27, 1994] | (a) Definitions. For the purpose of this subpart, the following terms will have the following meanings:1 Administrator means the Administrator of RUS. Borrower means any organization which has an outstanding direct loan or insured loan made by RUS for the provision of electric or telephone service. Cushion of credit payment means a voluntary unscheduled payment on an RUS note made after October 1, 1987, credited to the cushion of credit account of a borrower. Deferment means a re-amortization of a payment of principal and/or interest on an RUS direct loan or insured loan for over either a 5- or 10 year period, with the first payment beginning on the date of the deferment. Direct loan means a loan that is made by the Administrator pursuant to section 4 or section 201 of the RE Act (7 U.S.C. 901 et seq. ) for the provision of electric or telephone service in rural areas and does not include a loan made to promote economic development in rural areas. Financially distressed borrower means an RUS-financed borrower determined by the Administrator to be either: (i) In default or near default on interest or principal payments due on loans made or guaranteed under the RE Act; (ii) A borrower that was in default or near default, but is currently participating in a workout or debt restructuring plan with RUS; or (iii) Experiencing a financial hardship. Insured loan means a loan that is made, held, and serviced by the Administrator, and sold and insured by the Administrator, pursuant to Section 305 of the RE Act (7 U.S.C. 901 et seq. ) for the provision of electric or telephone service in rural areas and does not include a loan made to promote economic development in rural areas. Job creation means the creation of jobs in rural areas, or in close enough proximity to rural areas so that it is likely that the majority of the jobs created will be held by residents of rural areas. Project means a rural development project that a borrower proposes and the Administrator approves as qualifying under this su… | ||||
| 7:7:11.1.2.1.2.4.1.4 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.303 Eligibility criteria for deferment of loan payments. | RUS | The deferment of loan payments may be granted to any borrower that is not financially distressed, delinquent on any Federal debt, or in bankruptcy proceedings. However, the deferment of loan payments will not be granted to a borrower during any period in which the Administrator has determined that no additional financial assistance of any nature should be provided to the borrower pursuant to any provision of the RE Act. The determination to suspend eligibility for the deferment of loan payments under this subpart will be based on: (a) The borrower's demonstrated unwillingness to exercise diligence in repaying loans made by RUS or RTB or guaranteed by RUS that results in the Administrator being unable to find that such loans, would be repaid within the time agreed; or (b) The borrower's demonstrated unwillingness to meet the requirements in RUS's or RTB's legal documents or regulations. | |||||
| 7:7:11.1.2.1.2.4.1.5 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.304 Restrictions on the deferment of loan payments. | RUS | (a) The deferment must not impair the security of any loans made RUS or RTB, or guaranteed by RUS, pursuant to the RE Act. (b) At no point in time may the amount of the debt service payments deferred exceed 50 percent of the total cost of a community, business, or economic development project for which a deferment is provided. (c) A borrower may defer debt service payments only in an amount equal to the investment made by such borrower in a rural development project. The investment must not be made from: (1) Proceeds of loans made or guaranteed pursuant to the RE Act, or grants made pursuant to the RE Act or section 2331 through section 2335A of the Rural Economic Development Act of 1990 (7 U.S.C. 950aaa et seq. ); (2) Funds necessary to make timely payments of principal and interest on loans made, guaranteed or lien accommodated pursuant to the RE Act; (3) Insurance proceeds from mortgaged property; (4) Damage awards and sale proceeds resulting from eminent domain and similar proceedings involving mortgaged property; (5) Sale proceeds from mortgaged property sales requiring specific Administrator approval; and (6) Funds which are restricted by RUS or RTB loan instruments to be held in trust for the Government or to be held for any other specific purpose. (d) Any investment made in a rural development project prior to the date of the application for a deferment based on such project cannot be used to satisfy the requirements of this section. | |||||
| 7:7:11.1.2.1.2.4.1.6 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.305 Requirements for deferment of loan payments. | RUS | (a) Except as otherwise provided in paragraph (b) of this section, the borrower must make a cushion of credit payment equal to the amount of the payment deferred and subject to the following rules: (1) Cushion of credit payments made prior to the date that an application for deferral has been approved by RUS cannot be used to satisfy the requirements of this section; (2) Once a cushion of credit payment has been made to satisfy the requirements of paragraph (a) of this section, it must remain on deposit in the cushion of credit account on the date of the deferral or the deferral will not take place; and (3) The cushion of credit payment must be received by RUS on the date the payment being deferred is due, or within 30 days prior to this date. (b) A borrower may elect to consolidate in one application filed pursuant to § 1703.311, all of the related deferrals it wishes to receive in a twelve month period following application approval. In such a case, the requirement contained in paragraph (a)(1) of this section may alternatively be satisfied by depositing an amount equal to the aggregate deferrals covered by such application into the cushion of credit account at the time the first cushion of credit payment is due under paragraph (a)(1) of this section. | |||||
| 7:7:11.1.2.1.2.4.1.7 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.306 Limitation on funds derived from the deferment of loan payments. | RUS | Funds derived from the deferment of loan payments will not be used: (a) To fund or assist projects which would, in the judgement of the Administrator, create a conflict of interest or the appearance of a conflict of interest. The borrower must disclose to the Administrator information regarding any potential conflict of interest or appearance of a conflict of interest; (b) For any purpose not reasonably related to the project as determined by the Administrator; (c) To transfer existing employment or business activities from one area to another; or (d) For the borrower's electric or telephone operations, nor for any operations affiliated with the borrower unless the Administrator has specifically informed the borrower in writing that the affiliated operations are part of the approved purposes. | |||||
| 7:7:11.1.2.1.2.4.1.8 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.307 Uses of the deferments of loan payments. | RUS | The deferment of loan payments will be made to enable the borrower to provide funding and assistance for rural development and job creation projects. This includes, but is not limited to, the borrower providing financing to local businesses, community development assistance, technical assistance to businesses, and other community, business, or economic development projects that will benefit rural areas. | |||||
| 7:7:11.1.2.1.2.4.1.9 | 7 | Agriculture | XVII | 1703 | PART 1703—RURAL DEVELOPMENT | H | Subpart H—Deferments of RUS Loan Payments for Rural Development Projects | § 1703.308 Amount of deferment funds available. | RUS | (a) The total amount of deferments made available for each fiscal year under this program will not exceed 3 percent of the total payments due during fiscal year 1993 from all borrowers on direct loans and insured loans made under the RE Act. For each subsequent fiscal year after 1993, the total amount of deferments will not exceed 5 percent of the total payments due for the year from all borrowers on direct loans and insured loans. (b) The total amount of annual deferments are subject to limitations established by appropriations Acts. |
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