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This proposed rule establishes procedures for Certified Development Companies (CDCs) eligible for handling liquidation and litigation of loans funded by SBA-guaranteed debentures under the 504 business
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A notice of proposed rulemaking (NPRM) is a public notice that is issued by law when a U.S. federal agency wishes to add, remove, or change a rule or regulation as part of the rulemaking process.
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When an agency is writing a new regulation, the first version it normally shares with the public is called a notice of proposed rulemaking or NPRM. An NPRM typically suggests possible regulatory language, estimates the potential rule's benefits and costs, and invites the public to submit comments on the proposal.
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Proposed Rules are draft regulations or guidelines put forward for public comment and review before they are finalized and implemented by a governing body.
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The purpose of Proposed Rules is to create a framework for public input and ensure that stakeholders have an opportunity to express their views before the rules are finalized.
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The information that must be reported typically includes the title of the proposed rule, the text of the rule, the rationale behind it, potential economic impacts, and an invitation for public comments.
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