Unknown. Direct final rule

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--- schema: federal-register doc_type: fedreg source_file: FR-2005-02-08.xml --- 70 25 Tuesday, February 8, 2005 Contents Agricultural Agricultural Marketing Service PROPOSED RULES Cherries (sweet) grown in— Washington, 6598 05-2388 Agriculture Agriculture Department See Agricultural Marketing Service See Animal and Plant Health Inspection Service See Food Safety and Inspection Service See Forest Service See Grain Inspection, Packers and Stockyards Administration See Rural Housing Service Animal Animal and Plant Health Inspection Service RULES Livestock and poultry disease control:

Spring viremia of carp; indemnity payment, 6553-6554 05-2323 PROPOSED RULES Plant-related quarantine, domestic: Bay leaves, 6596-6598 05-2322 Arts Arts and Humanities, National Foundation See National Foundation on the Arts and the Humanities Census Census Bureau NOTICES Agency information collection activities; proposals, submissions, and approvals, 05-2327 6613-6615 05-2329 Centers Centers for Disease Control and Prevention NOTICES Grants and cooperative agreements; availability, etc.:

Health Promotion and Disease Prevention Research Centers Program, 6685-6686 05-2372 Meetings: National Center for Environmental Health Agency for Toxic Substances and Disease Registry— Scientific Counselors Board, 6686 05-2376 Centers Centers for Medicare & Medicaid Services See Inspector General Office, Health and Human Services Department Children Children and Families Administration NOTICES Native American programs: Social and economic development strategies, language preservation and maintenance, and environmental regulatory enhancement; policies and procedures, 6686-6691 05-2325 Coast Guard Coast Guard NOTICES Agency information collection activities; proposals, submissions, and approvals, 05-2312 6724-6725 05-2313 Commerce Commerce Department See Census Bureau See Foreign-Trade Zones Board See Industry and Security Bureau See International Trade Administration See National Institute of Standards and Technology See National Oceanic and Atmospheric Administration Commodity Commodity Futures Trading Commission NOTICES Commodity Exchange Act:

Exchange floor brokers and floor traders deemed to be eligible contract participants— New York Mercantile Exchange, Inc., 6630-6633 05-2368 Copyright Copyright Office, Library of Congress NOTICES Copyright royalty funds: Digital performance right in sound recordings and ephemeral records— Compulsory licenses; reasonable rates and terms; proceeding termination, 6736 05-2406 Corporation Corporation for National and Community Service NOTICES Meetings; Sunshine Act, 6633-6634 05-2496 Defense Defense Department NOTICES Agency information collection activities; proposals, submissions, and approvals, 05-2381 6634-6636 05-2382 05-2383 05-2384 05-2385 Education Education Department NOTICES Agency information collection activities; proposals, submissions, and approvals, 6636-6637 E5-497 Grants and cooperative agreements; availability, etc.:

Safe and Drug-Free School Programs— College student high-risk drinking or violent behavior prevention, 6637-6640 E5-513 Employment Employment and Training Administration NOTICES Adjustment assistance: BASF Corp., 6729 E5-491 Boston Scientific, 6729 E5-493 Dana Undies, 6729 E5-492 DeVlieg Bullard II, Inc., 6729-6730 E5-488 Electronic Data Systems Corp., 6730-6732 E5-487 Gale Group, Inc., 6732-6733 E5-486 Gasque Plumbing Co., 6733-6734 E5-494 Kemet Electronics Corp., 6734 E5-489 Standard Corp., 6734 E5-490 Aliens:

Labor certification for permanent employment in U.S., 6734-6735 05-2373 NAFTA transitional adjustment assistance: Ericsson, Inc., 6735-6736 E5-485 Organization, functions, and authority delegations: Trade Adjustment Assistance Program; designation of Certifying Officers, 6753-6756 05-2305 Energy Energy Department See Federal Energy Regulatory Commission EPA Environmental Protection Agency RULES Air quality implementation plans; approval and promulgation; various States; air quality planning purposes; designation of areas:

Washington, 6591-6593 05-1995 NOTICES Reports and guidance documents; availability, etc.: Human testing; proposed plan and description of review process, 6661-6667 05-2371 Farm Farm Credit Administration NOTICES Meetings; Sunshine Act, 6667 05-2541 FAA Federal Aviation Administration PROPOSED RULES Airworthiness directives: Special conditions— Boeing, 6598-6600 05-2319 Class E airspace, 6601-6602 05-2314 NOTICES Airport noise compatibility program: Noise exposure maps— Pago Pago International Airport, American Samoa, 6746-6747 05-2316 Meetings:

RCTA Government/Industry Air Traffic Management Advisory Committee, 6747 05-2317 RCTA Special Committee 200: Integrated Modular Avionics, 6747 05-2318 Passenger facility charges; applications, etc.: Minneapolis-St. Paul International Airport, MN, 6747-6748 05-2315 FCC Federal Communications Commission RULES Common carrier services: Satellite communications— Multichannel video programming distribution market; competition; review of rules and statutory provisions, 6593-6595 05-2267 Freedom of Information Act; implementation:

Fee schedule, 6593 05-2426 Radio services, special: Private land mobile services— 800 MHz band; improving public safety communications, 6760-6761 05-2421 800 MHz band; public safety interference proceeding, 6757-6761 05-2420 NOTICES Agency information collection activities; proposals, submissions, and approvals, 6761-6762 05-2422 Common carrier service: Wireless telecommunications services— Universal Licensing System link registration process; 71-76, 81-86, 92-94.0, and 94.1-95 GHz bands, 6667-6671 05-2546 Common carrier services:

Multiple address systems licenses in 928-959 and 932-941 MHz bands; filing requirements, minimum opening bids, upfront payments and other auction procedures, 6671-6684 05-2423 Federal Energy Federal Energy Regulatory Commission NOTICES Electric rate and corporate regulation filings, 6643-6645 E5-510 Environmental statements; notice of intent: Rendezvous Gas Services, L.L.C., 6645-6646 E5-499 Hydroelectric applications, 6646-6648 E5-503 E5-504 E5-505 Meetings: Wind energy in wholesale electricity markets; assessment; technical conference, 6649 E5-509 Meetings;

Sunshine Act, 6649-6661 05-2479 05-2480 *Applications, hearings, determinations, etc.:* Equitrans, L.P., 6640-6641 E5-498 E5-501 Kinder Morgan Interstate Gas Transmission LLC, 6641 E5-507 Neshkoro Power Associates, LLC, 6641-6642 E5-502 Northern Natural Gas Co., 6642 E5-500 Paiute Pipeline Co., 6642-6643 E5-508 Texas Gas Transmission, LLC, 6643 E5-506 Federal Reserve Federal Reserve System NOTICES Agency information collection activities; proposals, submissions, and approvals, 6684 05-2330 Banks and bank holding companies:

Change in bank control, 05-2331 6684-6685 05-2333 Formations, acquisitions, and mergers, 6685 05-2332 Food Food and Drug Administration NOTICES Agency information collection activities; proposals, submissions, and approvals, 6691-6693 05-2419 Meetings: Institutional review boards reporting of adverse events; public hearing, 6693-6696 05-2300 Reports and guidance documents; availability, etc.: Animal drug sponsor fees under Animal Drug User Fee Act; industry guidance, 6696-6697 05-2417 Clinical lactation studies; study design, data analysis, and recommendations for labeling, 6697 05-2416 S8 immunotoxicity studies for human pharmaceuticals, 6697-6698 05-2418 Food Food Safety and Inspection Service RULES Meat and poultry inspection:

Meat products; importation from Slovakia into U.S., 6554-6556 05-2389 MISSING FOR: Foreign-Trade Zones Board Foreign-Trade Zones Board NOTICES *Applications, hearings, determinations, etc.:* Florida Cardinal Health 409, Inc.; soft gelatin capsules/pharmaceutical and nutritional products manufacturing facilities, 6616 05-2434 Kentucky, 6616 05-2433 Mississippi Nissan North America, Inc.; new manufacturing capacity at manufacturing plant, 6616 05-2436 Texas Dell Computer Corp.; reorganization/expansion, 6616-6617 05-2435 Vermont, 6617 05-2432 Forest Forest Service NOTICES Meetings:

Black Hills National Forest Advisory Board, 6612 05-2377 GIPSA Grain Inspection, Packers and Stockyards Administration NOTICES Agency designation actions: Arizona, 6612 05-2386 Texas, 6612-6613 05-2387 Health Health and Human Services Department See Centers for Disease Control and Prevention See Children and Families Administration See Food and Drug Administration See Inspector General Office, Health and Human Services Department See National Institutes of Health See Public Health Service NOTICES Federal claims; interest rates on overdue debts, 6685 05-2392 Homeland Homeland Security Department See Coast Guard Indian Indian Affairs Bureau NOTICES Tribal-State Compacts approval;

Class III (casino) gambling: Chicksaw Nation, Quapaw Tribe, OK, 6725 05-2428 Industry Industry and Security Bureau NOTICES Agency information collection activities; proposals, submissions, and approvals, 6617-6618 05-2328 Inspector Inspector General Office, Health and Human Services Department NOTICES Program exclusions; list, 6698-6702 05-2369 Interior Interior Department See Indian Affairs Bureau See Minerals Management Service See National Indian Gaming Commission See Surface Mining Reclamation and Enforcement Office International International Trade Administration NOTICES Antidumping:

Individually quick frozen red raspberries from— Chile, 6618-6620 E5-515 Stainless steel sheet and strip in coils from— Mexico, 6620-6622 E5-514 International International Trade Commission NOTICES Import investigations: Frozen warmwater shrimp from— India and Thailand, 6728 05-2460 Potassium permanganate from— China, 6728-6729 05-2321 Labor Labor Department See Employment and Training Administration Library Library of Congress See Copyright Office, Library of Congress Maritime Maritime Administration NOTICES Grants and cooperative agreements; availability, etc.:

Maritime security training course, 6748-6749 05-2320 Minerals Minerals Management Service NOTICES Agency information collection activities; proposals, submissions, and approvals, 6725-6727 05-2425 National Archives National Archives and Records Administration NOTICES Agency records schedules; availability, 6736-6738 05-2380 National Foundation National Foundation on the Arts and the Humanities NOTICES Meetings: National Museum and Library Services Board; correction, 6738 05-2324 National Highway National Highway Traffic Safety Administration NOTICES Reports and guidance documents; availability, etc.:

Impaired-driving program assessments; summary of recommendations (1991 to 2003), 6749-6751 05-2430 National Indian National Indian Gaming Commission NOTICES Indian Gaming Regulatory Act: Fee rates, 6738-6739 05-2431 National Institute National Institute of Standards and Technology NOTICES Grants and cooperative agreements; availability, etc.: Small grants programs; correction, 6622-6623 05-2412 Information processing standards, Federal: Metropolitan areas (FIPS 8-6) et al.; 17 publications withdrawn, 6623-6625 05-2414 International Code Council; international codes and standards; update process, 6625 05-2413 NIH National Institutes of Health NOTICES Inventions, Government -owned; availability for licensing, 6702-6707 05-2364 05-2365 05-2366 05-2394 Meetings:

National Cancer Institute, 05-2349 05-2350 6707-6711 05-2353 05-2354 05-2355 05-2356 05-2357 05-2358 05-2359 05-2360 05-2361 05-2362 05-2363 National Center on Minority Health and Health Disparities, 6711 05-2395 National Heart, Lung, and Blood Institute, 05-2346 6711-6712 05-2403 National Institute of Allergy and Infectious Diseases, 05-2335 05-2338 6712-6713, 6717-6718 05-2339 05-2399 05-2401 National Institute of Child Health and Human Development, 6712 05-2334 National Institute of Diabetes and Digestive and Kidney Diseases, 6715 05-2351 National Institute of Environmental Health Sciences, 6716-6717 05-2396 05-2397 05-2398 National Institute of General Medical Sciences, 6713-6714 05-2342 05-2343 National Institute of Mental Health, 05-2400 6718-6719 05-2402 National Institute of Nursing Research, 05-2347 6715 05-2348 National Institute on Aging, 6715-6716 05-2352 National Institute on Alcohol Abuse and Alcoholism, 05-2340 6713 05-2341 National Institute on Drug Abuse, 6714-6715, 6719 05-2345 05-2404 National Library of Medicine, 05-2336 6719-6720 05-2337 Recombinant DNA Advisory Committee, 6720 05-2344 Scientific Review Center, 6720-6721 05-2405 NOAA National Oceanic and Atmospheric Administration PROPOSED RULES Fishery conservation and management:

Northeastern United States fisheries— Atlantic bluefish, 6608-6611 05-2442 NOTICES Marine mammals: Incidental taking; authorization letters, etc.— ConocoPhillips Alaska Inc.; Beaufort Sea, AK; on-ice seismic activities; pinnipeds, 6626-6630 05-2443 National Science National Science Foundation NOTICES Antarctic Conservation Act of 1978; permit applications, etc., 6739 05-2408 Meetings: Proposal review, 6739 05-2424 Nuclear Nuclear Regulatory Commission NOTICES Committees; establishment, renewal, termination, etc.:

Atomic Safety and Licensing Board, 6739-6740 05-2367 Meetings; Sunshine Act, 6740 05-2481 Public Public Health Service NOTICES National Toxicology Program: Carcinogens Report, Eleventh Edition— Agents, substances, mixtures, and exposure circumstances for listing or delisting, 6721-6723 05-2393 Rural Rural Housing Service RULES Direct single family housing loans and grants, 6551-6553 05-2429 SEC Securities and Exchange Commission RULES Electronic Data Gathering, Analysis, and Retrieval System (EDGAR): eXtensible Business Reporting Language Voluntary Financial Reporting Program; financial information data tagging, 6556-6573 05-2391 Filer Manual; revision, 6573-6575 05-2390 NOTICES Self-regulatory organizations:

Options disclosure documents— Canadian Derivatives Clearing Corp., 6740-6741 E5-511 Self-regulatory organizations; proposed rule changes: American Stock Exchange LLC, 6741-6742 E5-495 Chicago Board Options Exchange, Inc., 6742-6743 E5-496 National Association of Securities Dealers, Inc., 6743-6744 E5-512 SBA Small Business Administration NOTICES Agency information collection activities; proposals, submissions, and approvals, 6744-6745 05-2444 05-2445 05-2446 State State Department NOTICES Meetings:

Public Diplomacy, U.S. Advisory Commission, 6745-6746 05-2522 Surface Surface Mining Reclamation and Enforcement Office RULES Permanent program and abandoned mine land reclamation plan submissions: West Virginia, 6575-6591 05-2411 PROPOSED RULES Permanent program and abandoned mine land reclamation plan submissions: Illinois, 6602-6605 05-2409 Iowa, 6606-6608 05-2410 Surface Surface Transportation Board NOTICES Rail carriers: Control exemptions— CSX Transportation, Inc., 6751 05-2375 Transportation Transportation Department See Federal Aviation Administration See Maritime Administration See National Highway Traffic Safety Administration See Surface Transportation Board Separate Parts In This Issue Part II Labor Department, Employment and Training Administration, 6753-6756 05-2305 Part III Federal Communications Commission, 6757-6762 05-2420 05-2421 05-2422 Reader Aids Consult the Reader Aids section at the end of this issue for phone numbers, online resources, finding aids, reminders, and notice of recently enacted public laws.

To subscribe to the Federal Register Table of Contents LISTSERV electronic mailing list, go to http://listserv.access.gpo.gov and select Online mailing list archives, FEDREGTOC-L, Join or leave the list (or change settings); then follow the instructions. 70 25 Tuesday, February 8, 2005 Rules and Regulations DEPARTMENT OF AGRICULTURE Rural Housing Service 7 CFR Part 3550 RIN 0575-AC54 Direct Single Family Housing Loans and Grants AGENCY: Rural Housing Service, USDA. ACTION: Direct final rule.

SUMMARY: Through this action, the Rural Housing Service

(RHS)is revising and clarifying the definition for an existing dwelling and a new dwelling or unit, removing specific dollar limits with regards to insurance deductible clauses, and establishing the amount of insurance required to conform to industry standards. These changes are being made to make more clear what constitutes an existing and a new dwelling, and to conform insurance coverage requirements to industry standards. The intended effect is to improve the delivery and implementation of the Direct Single Family Housing programs. DATES: This rule is effective April 25, 2005, unless we receive written adverse comments or written notices of intent to submit adverse comments on or before April 11, 2005. ADDRESSES: You may submit comments to this rule by any of the following methods: • Agency Web site: *http://rdinit.usda.gov/regs/.* Follow the instructions for submitting comments on the Web site. • E-Mail: *comments@usda.gov.* Include the RIN number (0575-AC54) in the subject line of the message. • Federal eRulemaking Portal: *http://www.regulations.gov.* Follow the instructions for submitting comments. • Mail: Submit written comments via the U.S. Postal Service to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, STOP 0742, 1400 Independence Avenue, SW., Washington, DC 20250-0742. • Hand Delivery/Courier: Submit written comments via Federal Express Mail or another mail courier service requiring a street address to the Branch Chief, Regulations and Paperwork Management Branch, U.S. Department of Agriculture, 300 7th Street, SW., Washington, DC 20024. All written comments will be available for public inspection during regular work hours at the 300 7th Street, SW., address listed above. FOR FURTHER INFORMATION CONTACT: Janet L. Carter, Senior Loan Specialist, Rural Housing Service, Stop 0783; 1400 Independence Avenue, SW., Washington, DC 20250-0783; Telephone: 202-720-1489; Fax: 202-690-3555; e-mail: *Janet.Carter@usda.gov.* SUPPLEMENTARY INFORMATION: Classification This rule has been determined to be not significant and was not reviewed by the Office of Management and Budget

(OMB)under Executive Order 12866. Paperwork Reduction Act of 1995 The information collection requirements contained in this regulation have been approved by OMB under the provisions of 44 U.S.C. chapter 35 and have been assigned OMB control number 0575-0172, in accordance with the Paperwork Reduction Act

(PRA)of 1995. This rule does not impose any new or modified information collection requirements. GPEA Statement RHS is committed to compliance with the Government Paperwork Elimination Act (GPEA), which requires Government agencies, in general to provide the public the option of submitting information or transacting business electronically to the maximum extent possible. Civil Justice Reform This rule has been reviewed under Executive Order 12988, Civil Justice Reform. In accordance with this rule:

(1)All State and local laws and regulations that are in conflict with this rule will be preempted;

(2)no retroactive effect will be given to this rule; and

(3)administrative proceedings in accordance with the regulations of the National Appeals Division of USDA in 7 CFR part 11 must be exhausted before bringing suit in court challenging action taken under this rule, unless those regulations specifically allow bringing suit at an earlier time. Unfunded Mandates Reform Act Title II of the Unfunded Mandates Reform Act of 1995 (UMRA), Pub. L. 104-4, establishes requirements for Federal agencies to assess the effects of their regulatory actions on State, local, and tribal governments and the private sector. Under section 202 of the UMRA, 2 U.S.C. 1532, RHS generally must prepare a written statement, including a cost-benefit analysis, for proposed and final rules with “Federal mandates” that may result in expenditures to State, local, or tribal governments, in the aggregate, or to the private sector, of $100 million or more in any one year. When such a statement is needed for a rule, section 205 of the UMRA generally requires RHS to identify and consider a reasonable number of regulatory alternatives and adopt the least costly, more cost-effective or least burdensome alternative that achieves the objectives of the rule. This rule contains no Federal mandates (under the regulatory provisions of Title II of the UMRA) for State, local, and tribal Governments or the private sector. Therefore, this rule is not subject to the requirements of sections 202 and 205 of the UMRA. Programs Affected The programs affected by this final rule are 10.410 Very Low to Moderate Income Housing Loans and 10.417 Very Low-Income Housing Repair Loans and Grants. Intergovernmental Consultation For the reasons set forth in the final rule related Notice to 7 CFR part 3015, subpart V, these programs are not subject to Executive Order 12372 which requires intergovernmental consultation with State and local officials. Environmental Impact Statement This document has been reviewed in accordance with 7 CFR part 1940, subpart G, “Environmental Program.” It is the determination of RHS that this action does not constitute a major Federal action significantly affecting the quality of the human environment, and in accordance with the National Environmental Policy Act of 1969, Pub. L. 91-190, an Environmental Impact Statement is not required. Regulatory Flexibility Act This rule has been reviewed with regard to the requirements of the Regulatory Flexibility Act (5 U.S.C. 601-612). The undersigned has determined and certified by signature of this document that this rule will not have a significant economic impact on a substantial number of small entities since this rulemaking action does not involve a new or expanded program. Background It is the policy of RHS to publish rules determined to be non-controversial and unlikely to result in adverse comments as direct final rules. RHS Policy for direct final rules was published on March 27, 2003 at 68 FR 14889. No adverse comments are anticipated on the changes in this rule. Adverse comments suggest that the rule should not be adopted or that a change should be made to the rule. Unless any adverse comments are received within 60 days of publication, this rule will be effective 75 days from the date of publication. Definition of Existing Dwelling According to 7 CFR 3550.10, an existing dwelling is currently defined as a dwelling that is more than 1 year old, or less than 1 year old and covered by an approved 10-year warranty plan. 7 CFR 3550.10 further defines a new dwelling as a dwelling that is to be constructed, or an already-existing dwelling that is less than 1 year old and is not covered by an approved 10-year warranty plan. This gives the impression that the major difference between a new and existing dwelling is coverage by a 10-year warranty plan. This has been a cause for much confusion with field staff, applicants, contractors, and Realtors. The 10-year warranty allows the Agency to provide full financing on homes that are less than 1 year old when there is not other means of adequate and verifiable documentation of construction quality of new dwellings. This change will simplify the definitions of new and existing homes but does not otherwise change any policy on how new and existing homes are financed. The only anticipated impact of this change is clarity on what constitutes a new or existing dwelling for the purposes of financial assistance through the Direct Single Family Housing programs. No change will result from this revision regarding the applicability or value of a 10-year warranty. Insurance Deductible Clauses According to 7 CFR 3550.61(b) and 7 CFR 3550.110(b) essential buildings must be insured in an amount at least equal to the balance of the secured debts. Many companies are reluctant to issue policies when the coverage is well in excess of the replacement value of the home. This is a particular problem in areas of high land costs and makes it extremely difficult for borrowers/homeowners to secure affordable insurance coverage. In addition, according to 7 CFR 3550.61(d) and 7 CFR 3550.110(d) loss deductible clauses may not exceed $250 or 1 percent of the insurance coverage, whichever is greater. The deductible for any 1 building may not exceed $750. The cost of housing has risen dramatically and so has the cost of insurance. Some companies are reluctant to provide coverage with deductible clauses with a low dollar threshold. This makes it very difficult for new homeowners to secure affordable insurance coverage. The change in this requirement conforms with industry standards and will adequately protect both the borrower's and the government's interest. With this change, the borrower will be asked to insure their house in an amount that is the lesser of 100% of the insurable value ( *i.e.* the cost to restore the property back to its state prior to a loss) of the house or the unpaid principal balance. The loss deductible clause requirement will be based on the higher of 1% of the face value of the policy or $1,000 unless state law requires a higher maximum deductible amount. This change will make it easier for applicants to secure affordable insurance coverage. List of Subjects in 7 CFR Part 3550 Administrative practice and procedure, Conflict of interests, Environmental impact statements, Equal credit opportunity, Fair housing, Accounting, Grant programs—Housing and community development, Housing, Loan programs—Housing and community development, Low and moderate income housing, Manufactured homes, Reporting and recordkeeping requirements, Rural areas, Subsidies. For the reasons stated in the preamble, chapter XXXV, Title 7 of the Code of Federal Regulations, is amended as follows: PART 3550—DIRECT SINGLE FAMILY HOUSING LOANS AND GRANTS 1. The authority citation for part 3550 continues to read as follows: Authority: 5 U.S.C. 301; 42 U.S.C. 1480. Subpart A—General Section 3550.10 is amended by revising definitions for “existing dwelling or unit” and “new dwelling” to read as follows: § 3550.10 Definitions. *Existing dwelling or unit.* A dwelling or unit that has either been previously owner-occupied or has been completed for more than 1 year as evidenced by an occupancy permit, certificate of occupancy or similar document issued by the local authority. *New dwelling or unit.* A dwelling that is to be constructed, or a dwelling that is less than 1 year old as evidenced by an occupancy permit, certificate of occupancy or similar document issued by the local authority and has never been occupied. Subpart B—Section 502 Origination 2. Section 3550.61 is amended by revising paragraphs

(b)and (d)(1) to read as follows: § 3550.61 Insurance.

(b)*Amount.* The dwelling and any other essential buildings must be insured in an amount that is the lesser of 100% of the insurable value ( *i.e.* the cost to restore the property back to its state prior to a loss) of the house or the unpaid principal balance.

(d)* * *

(1)Loss deductible clauses for required insurance coverage may not exceed the higher of 1% of the face value of the policy or $1,000 unless state law requires a higher maximum deductible amount. Subpart C—Section 504 Origination and Section 306C Water and Waste Disposal Grants 3. Section 3550.110 is amended by revising paragraphs

(b)and (d)(1) to read as follows: § 3550.110 Insurance (loans only).

(b)*Amount.* The dwelling and any other essential buildings must be insured in an amount that is the lesser of 100% of the insurable value of the house or the unpaid principal balance.

(d)* * *

(1)Loss deductible clauses for required insurance coverage may not exceed the higher of 1% of the face value of the policy or $1,000 unless state law requires a higher maximum deductible amount. Dated: December 27, 2004. Russell T. Davis, Administrator, Rural Housing Service. [FR Doc. 05-2429 Filed 2-7-05; 8:45 am]

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