Regulatory Reform Initiative

Executive Order 12866

This proposed rule is issued in conformance with Executive Order 12866. It has been determined to be neither significant nor economically significant for the purposes of E.O. 12866 and, therefore, has not been reviewed by the Office of Management and Budget (OMB).

Regulatory Flexibility Act

It has been determined that the Regulatory Flexibility Act is not applicable to this proposed rule since CCC is not required by 5 U.S.C. 553 or any other provision of law to publish a notice of rulemaking with respect to the subject matter of this rule.

Executive Order 12372

These programs are not subject to the provisions of Executive Order 12372, which requires intergovernmental consultation with State and local officials. See notice related to 7 CFR part 3015, subpart V, published at 48 FR 29115 (June 24, 1983).

Environmental Evaluation

It has been determined by an environmental evaluation that this action will not have a significant impact on the quality of the human environment. Therefore, neither an Environmental Assessment nor an Environmental Impact Statement is needed.

Paperwork Reduction Act

The amendment to 7 CFR parts 1487, 1491, 1492 and 1495 set forth in this proposed rule does not contain information collections that require clearance by the OMB under the provisions of 44 U.S.C. 35.

Executive Order 12778

This proposed rule has been reviewed under Executive Order 12778, Civil Justice Reform. The proposed rule would not have preemptive effect with respect to any state or local laws, regulations, or policies which conflict with such provisions or which otherwise impede their full implementation. The rule would not have retroactive effect. The Department of Agriculture is committed to carrying out its statutory and regulatory mandates in a manner that best serves the public interest. Therefore, where legal discretion permits, the Department actively seeks to promulgate regulations that promote economic growth, create jobs, are minimally burdensome, and are easy for the public to understand, use or comply with. In short, the Department is committed to issuing regulations that maximize net benefits to society and minimize costs imposed by those regulations.

Request for Public Comment

Comments are requested with respect to this proposed rule and such comments shall be considered in developing the final rule.

Background

In response to the President's Regulatory Reform Initiative, the Commodity Credit Corporation is proposing to amend Title 7 of the Code of Federal Regulations to remove the following parts: • Part 1487--Noncommercial Risk Assurance Program (GSM-101); • Part 1491--CCC Intermediate Credit Export Sales Program for Breeding Animals (GSM-201); • Part 1492--CCC Intermediate Credit Export Sales Program for Foreign Market Development Facilities (GSM-301); and • Part 1495--Disposition of Agricultural Commodities under the CCC Barter Program (Barter Program).

Reasons for Removal

CCC proposes to remove these parts for the following reasons: • GSM-101--This risk assurance program, implemented in 1979, covered only non-commercial or political risk and became obsolete when the CCC Export Credit Guarantee Program (GSM-102) was introduced in 1980 to cover political and commercial risk. The GSM-101 program was last used in 1981. • GSM-201--This direct credit program has been used only once (a transaction for livestock exports to Spain in 1979). The terms available under the program--3 to 10 year direct credits--could be made available under a modified GSM-5 Program (7 CFR Part 1488) Financing of Sales of Agricultural Commodities Program.

• GSM-301--This direct credit program was intended to facilitate commodity exports which would be sold to generate funds to finance the construction of a market development project. The program was used only once (in connection with a bulk grain discharge and storage facility developed at Ashdod, Israel). That project began in 1978 and was completed in the early 1980's. For a number of years, funding has not been made available for this program. • Barter Program--From 1950 through 1973, CCC exchanged CCC- owned agricultural commodities for strategic and critical materials for the National Defense Stockpile. The program could also be used to obtain foreign-produced supplies and services used in Department of Defense construction projects and Agency for International Development projects. The program was terminated in 1973 when CCC stocks were depleted. The National Defense Stockpile is now liquidating many strategic materials. Also, CCC has authority, which it has at times used, to enter into direct barter arrangements under the CCC Charter Act in order to obtain strategic materials for defense stock piles.

List of Subjects

7 CFR Part 1487

Agricultural commodities, Exports, Insurance, Reporting and recordkeeping requirements.

7 CFR Parts 1491 and 1492

Exports, Livestock, Loan programs-agriculture, Reporting and recordkeeping requirements.

7 CFR Part 1495

Agricultural commodities, Exports, Government procurement, Strategic and critical materials.

PARTS 1487, 1491, 1492, 1495--[REMOVED]

For the reasons set out in the preamble under the authority at 5 U.S.C. Section 552(a)(1)(E), it is proposed to amend 7 CFR Chapter XIV by removing parts 1487, 1491, 1492 and 1495.

Signed at Washington, DC, on December 1, 1995. Christopher E. Goldthwait, General Sales Manager and Vice President, Commodity Credit Corporation. [FR Doc. 95-30018 Filed 12-12-95; 8:45 am] BILLING CODE 3410-10-P