Air Transportation Stabilization Board.
This supplemental regulation is issued by the Air Transportation Stabilization Board under section 102(c)(2)(B) of the Air Transportation Safety and System Stabilization Act, which authorizes the Air Transportation Stabilization Board (the “Board”) to issue supplemental regulations for the issuance of federal credit instruments. The purpose of this supplemental regulation is to allow the Board to charge a fee for each amendment to, or waiver of, any term or condition of any guaranteed loan document or related instrument approved by the Board relating to its air carrier guarantee loan program. These regulations are effective upon publication.
March 2, 2005.Start Further Info
FOR FURTHER INFORMATION CONTACT:
Mark R. Dayton, Executive Director, Air Transportation Stabilization Board, 1120 Vermont Avenue, NW., Suite 970, Washington, DC 20005, at (202) 622-3550 or by e-mail to firstname.lastname@example.org.End Further Info End Preamble Start Supplemental Information
On October 12, 2001, the Office of Management and Budget (the “OMB”) published a final rule (66 FR 52270), as amended on April 9, 2002 (67 FR 17258), under section 102(c)(2)(B) of the Air Transportation Safety and System Stabilization Act (the “Act”). That section states that “the Director of the Office of Management and Budget shall issue regulations setting forth procedures for application and minimum requirements * * * for the issuance of Federal credit instruments under Section 101(a)(1)” of the Act. Section 101(a)(1) authorizes the Board, which is established by section 102(b)(1) of the Act, to issue certain Federal credit instruments to assist air carriers who suffered losses due to the terrorist attacks of September 11, 2001, and to whom credit is not otherwise reasonably available, in order to facilitate a safe, efficient, and viable commercial aviation system in the United States.
Section 102(c)(2)(B) of the Act authorizes the Board to supplement the regulations issued by OMB. On April 9, 2002, the Board published a supplemental final rule (67 FR 17258) under Section 102(c)(2)(B) of the Act establishing administrative rules and procedures. The Board has determined that it is appropriate to issue supplemental rules and procedures to facilitate requests for amendments or waivers to terms and conditions of guaranteed loan documents or related instruments approved by the Board.
Because this final rule relates to public loan guarantees and does not affect the substantive rights or obligations of any person, notice and public procedure are not required pursuant to 5 U.S.C. 553(a). For the same reasons, a delayed effective date is not required pursuant to 5 U.S.C. 553(a) and (d). This rule is not a “significant regulatory action” for purposes of Executive Order 12866, and because no notice of proposed rulemaking is required, the provisions of the Regulatory Flexibility Act (5 U.S.C. 601 et seq.) do not apply.Start List of Subjects
List of Subjects in Part 1310
- Air carriers
- Disaster assistance
- Loan programs-transportation
- Reporting and recordkeeping requirements
Dated: February 22, 2005.
Mark R. Dayton,
Executive Director, Air Transportation Stabilization Board.
For the reasons set forth in the preamble and under the authority ofEnd Amendment Part Start Amendment Part
1. The heading of Part 1310 is revised to read as follows:End Amendment Part
Subchapter B—Air Transportation Stabilization BoardStart Part
PART 1310—AIR CARRIER GUARANTEE LOAN PROGRAM ADMINISTRATIVE REGULATIONS AND AMENDMENT OR WAIVER OF A TERM OR CONDITION OF GUARANTEED LOANEnd Part Start Amendment Part
2. The authority citation for part 1310 continues to read as follows:End Amendment Part Start Amendment Part
3. Section 1310.15 is added to read as follows:End Amendment Part
The Board may, in its discretion, charge the borrower a fee, in an amount and payable as determined by the Board, for each amendment to, or waiver of, any term or condition of any guaranteed loan document or related instrument approved by the Board.
[FR Doc. 05-4005 Filed 2-25-05; 12:15 pm]
BILLING CODE 4810-25-P