[Federal Register: March 2, 2005 (Volume 70, Number 40)]
[Rules and Regulations]
[Page 10037]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr02mr05-7]
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AIR TRANSPORTATION STABILIZATION BOARD
14 CFR Part 1310
Regulations for Air Transportation Stabilization Board Under
Section 101(a)(1) of the Air Transportation Safety and System
Stabilization Act
AGENCY: Air Transportation Stabilization Board.
ACTION: Final rule.
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SUMMARY: 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.
EFFECTIVE DATE: March 2, 2005.
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
atsb@do.treas.gov.
SUPPLEMENTARY 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.
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.
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For the reasons set forth in the preamble and under the authority of 49
U.S.C. 40101 note, the Air Transportation Stabilization Board amends
subchapter B of 14 CFR Chapter VI as follows:
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1. The heading of Part 1310 is revised to read as follows:
Subchapter B--Air Transportation Stabilization Board
PART 1310--AIR CARRIER GUARANTEE LOAN PROGRAM ADMINISTRATIVE
REGULATIONS AND AMENDMENT OR WAIVER OF A TERM OR CONDITION OF
GUARANTEED LOAN
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2. The authority citation for part 1310 continues to read as follows:
Authority: Title I of Pub. L. 107-42, 115 Stat. 230 (49 U.S.C.
40101 note).
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3. Section 1310.15 is added to read as follows:
Sec. 1310.15 Amendment or Waiver of a term or condition of a
guaranteed loan.
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