Page 19 - January 2018

597 of the Internal Revenue Code and amend existing effective 12/27/2017. The notice may be viewed
regulations that address the federal income tax at: https://www.gpo.gov/fdsys/pkg/FR-2017-12-
treatment of transactions in which federal financial 27/pdf/2017-27895.pdf. Federal Register, Vol.
assistance is provided to banks and domestic building 82, No. 247, 12/27/2017, 61129-61133.
and loan associations, and they clarify the federal
income tax consequences of those transactions to • FCIC amended the Common Crop Insurance
banks, domestic building and loan associations, and Regulations to provide Cultivated Clam
related parties. The corrections are applicable
10/19/2017. The notice may be viewed at: insurance. The provisions will be used in
https://www.gpo.gov/fdsys/pkg/FR-2017-12- conjunction with the Common Crop Insurance
27/pdf/2017-27862.pdf. Federal Register, Vol. 82, Policy Basic Provisions, which contain standard
No. 247, 12/27/2017, 61177-61178. terms and conditions common to most crop
programs. The intended effect of this action is to
FHFA Requests Comment on convert the Cultivated Clam pilot crop insurance
Information Collection. program to a regulatory insurance program for
the 2019 and succeeding crop years. Comments
Federal Housing Finance Agency (FHFA) announced are due 01/26/2018, the final rule is effective
it seeks comment on the information collection titled 12/27/2017. The notice may be viewed at:
Federal Home Loan Bank Directors. FHFA also gave https://www.gpo.gov/fdsys/pkg/FR-2017-12-
notice that it sent the collection to OMB for review. 27/pdf/2017-27894.pdf. Federal Register, Vol.
Comments are due 01/22/2018. The notice may be 82, No. 247, 12/27/2017, 61134-61140.
viewed at: https://www.gpo.gov/fdsys/pkg/FR-2017-
12-22/pdf/2017-27629.pdf. Federal Register, Vol. FCIC Issues Correction to Catastrophic
82, No. 245, 12/22/2017, 60724-60741. Risk Protection Endorsement, Area Risk

FCA Finalizes Amendments Regarding Protection Insurance Regulations, and the
Assessment and Apportionment of Common Crop Insurance Regulations.

Administrative Expenses. FCIC issued corrections to catastrophic risk
protection endorsement, area risk protection
The Farm Credit Administration (FCA) issued a final insurance regulations, and the common crop
rule adopting technical amendments to eliminate insurance regulations rule published in the Federal
language that is obsolete, confusing, and unnecessary Register on 11/24/2017. The corrections may be
to determine the annual assessment amount of Farm viewed at: https://www.gpo.gov/fdsys/pkg/FR-2017-
Credit System institutions. The amendments are 12-14/pdf/C1-2017-25330.pdf. Federal Register,
effective 12/13/2017. The notice may be viewed at: Vol. 82, No. 239, 12/14/2017, 58707.
https://www.gpo.gov/fdsys/pkg/FR-2017-12-
13/pdf/2017-26835.pdf. Federal Register, Vol. 82, RBC Issues Guarantee Fee Rates for
No. 23, 12/13/2017, 58533.
Guaranteed Loans for Fiscal Year 2018.
FCIC Finalizes Amendments to Common The Rural Business-Cooperative Service has issued a
Crop Insurance Regulations. notice to announce the Guarantee Fee rates for
Guaranteed Loans for fiscal year (FY) 2018,
• The Federal Crop Insurance Corporation (FCIC) Maximum Portion of Guarantee Authority Available
amended the Common Crop Insurance for FY 2018, Annual Renewal Fee for FY 2018 when
Regulations to provide California Avocado applying for guaranteed loans under the Business and
insurance. The provisions will be used in Industry (B&I) Guaranteed Loan Program. The
conjunction with the Common Crop Insurance Agency is establishing an initial guarantee fee rate of
Policy Basic Provisions, which contain standard 3 percent and an annual renewal fee rate of one-half
terms and conditions common to most crop of 1 percent for the B&I Guaranteed Loan Program.
programs. The intended effect of this action is to The rates are applicable 01/09/2018. The notice may
convert the California Avocado pilot crop be viewed at: https://www.gpo.gov/fdsys/pkg/FR-
insurance program to a regulatory insurance 2018-01-09/pdf/2018-00209.pdf. Federal Register,
program for the 2020 and succeeding crop years. Vol. 82, No. 6, 01/09/2018, 1013-1014.

Comments are due 01/26/2018, the final rule is
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