USDA publishes REAP rule, solicits public comments

The USDA Rural Business-Cooperative Service on April 27 published a final rule for the Rural Energy for America Program that makes changes related to the OneRD guaranteed loan regulation and 2018 Farm Bill. A public comment period is open through June 28. The rule is scheduled to take effect on July 26.

In July 2020, the USDA promulgated regulations enacting the OneRD guaranteed loan regulation, which contained four USDA loan programs, including REAP, into one comprehensive and guaranteed loan processing and servicing regulation. The final rule released on April 27, in part, removes references that have become superfluous in light of the OneRD regulation, according to USDA. Program modifications required by the 2018 Farm Bill, as well as provisions that have been previously published via funding opportunities in Federal Register publications, have also been incorporated into the rule to eliminate the need for annual notification and to enhance program delivery.

Additional information is available on the Federal Register website.