Rural loan program fixes its definition of 'affiliate' after accidentally deleting a sentence
What happened
The US Department of Agriculture corrected a final rule for its OneRD Guarantee Loan Program. The correction fixes an incorrect definition of "affiliate" and restores a sentence that was accidentally removed.
Why it matters
This document is a minor correction to a larger rule that strengthened oversight of rural development loans. The original rule aimed to improve how the government manages its guarantees for community facilities, water and waste disposal, business, and rural energy projects. This correction ensures the rules are applied as intended, particularly regarding who counts as a related party in a loan application.
The signal
Watch for any further clarifications or adjustments to the OneRD program's definitions, which could indicate ongoing challenges in implementing the new oversight rules.