Page 18 - November 2017

Treasury Issues Correction to Correction SBA Announces Express Bridge Loan
of Revision of Withholding of Tax on Pilot Program.
Certain Income Paid to Foreign Persons.
SBA announced its Express Bridge Pilot Program.
Treasury has issued a correction to a correction to a The pilot will provide expedited guaranteed bridge
notice of proposed rulemaking relating to the loan financing for disaster-related purposes to small
withholding of tax on certain U.S. income paid to businesses located in communities impacted by a
foreign persons and requirements for certain claims Presidentially-declared disaster, while those small
for refund or credit of income tax made by foreign businesses apply for and await long-term financing
persons. The original notice of proposed rulemaking (including through SBA’s direct disaster loan
was published in the Federal Register on 01/06/2017, program, if eligible). The modification of the lending
and the first correction was published on 09/15/2017. criteria will minimize the burden on businesses
The notice may be viewed at: applying for loans through the Express Bridge Pilot
https://www.gpo.gov/fdsys/pkg/FR-2017-10- and provide an incentive for SBA Express lenders to
26/pdf/2017-22815.pdf. Federal Register, Vol. 82, participate in the pilot. The pilot will be available
No. 206, 10/26/2017, 49549-49550. from 10/16/2017 through 09/30/2020. The notice
may be viewed at:
FHFA Requests Comment on https://www.gpo.gov/fdsys/pkg/FR-2017-10-
Information Collection. 16/pdf/2017-22385.pdf. Federal Register, Vol. 82,
No. 198, 10/16/2017, 47958-47959.

The Federal Housing Finance Agency (FHFA)
announced it seeks comment on the information SBA Extends Comment Period for
collection titled Federal Home Loan Bank Directors. Regulatory Burden Request.
FHFA also gave notice that it sent the collection to
OMB for review. Comments are due 12/31/2017. The SBA announced the extension of the comment period
notice may be viewed at: for is request for information seeking input on which
https://www.gpo.gov/fdsys/pkg/FR-2017-10- of SBA’s regulations should be repealed, replaced or
12/pdf/2017-22014.pdf. Federal Register, Vol. 82, modified because they are obsolete, unnecessary,
No. 196, 10/12/2017, 47510-47526. ineffective, or burdensome, originally published in
the Federal Register on 08/15/2017. The new
comment due date is 11/15/2017. The notice may be
viewed at: https://www.gpo.gov/fdsys/pkg/FR-2017-
SBA Updates Woman-Owned Small 10-13/pdf/2017-22130.pdf. Federal Register, Vol.
Business Federal Contract Program 82, No. 197, 10/13/2017, 47645.

NAICS Code. RBS and RUS Issue Correction for CFR.

The Small Business Administration (SBA) is The Rural Business-Cooperative Service (RBS) and
updating the North American Industry Classification the Rural Utilities Service (RUS) issued a correction
System (NAICS) codes authorized for use in the to Title 7 of the Code of Federal Regulations
Women-Owned Small Business (WOSB) Federal regarding the implementation of strategic economic
Contract Program (WOSB Program). The update is development and community development plans. The
being made to reflect OMB’s NAICS revision for notice may be viewed at:
2017, identified as NAICS 2017. NAICS 2017 https://www.gpo.gov/fdsys/pkg/FR-2017-11-
created 21 new industries by reclassifying, 02/pdf/2017-23912.pdf. Federal Register, Vol. 82,
combining, or splitting 29 NAICS 2012 industry No. 211, 11/02/2017, 50802.
codes. These changes would impact eight of the 2012
NAICS codes designated for use under the WOSB
Program. The code designations apply to all RBS and RHS Request Comment on
solicitations issued on or after 10/01/2017. The notice Information Collection Extension.
may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2017-10- The Rural Business-Cooperative Service (RBS) and
11/pdf/2017-21925.pdf. Federal Register, Vol. 82, the Rural Housing Service request comment on the
No. 195, 10/11/2017, 47277-47287. proposed extension of a currently approved
information collection titled 7 CFR 1951-E,

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