Search Results for keywords:"CNMI Economic Vitality

The Department of Labor (DOL) is seeking approval for an information collection request regarding the National Compensation Survey from the Office of Management and Budget (OMB), as required by the Paperwork Reduction Act of 1995. The survey gathers data on earnings and benefits from private firms and government, which is used to produce important economic indicators like the Employment Cost Index. The DOL invites public comments on the necessity, accuracy, and burden of the data collection, which is crucial for evaluating employee compensation trends. Responses to this request are due by March 31, 2021.

The Rural Business-Cooperative Service (RBCS), part of the USDA, has announced a funding opportunity under the Timber Production Expansion Guaranteed Loan Program for 2024. This program will help lenders provide loans to entities looking to build or improve sawmills and wood processing facilities near priority U.S. Forest Service lands. Over $200 million will be available starting in 2025, funded by the Infrastructure Investment and Jobs Act. The goal is to support ecological restoration efforts by using byproducts from these projects and to advance rural economic opportunities, while prioritizing climate change mitigation and racial equity.

The Small Business Administration (SBA) has announced changes to its Risk Rating System, an internal tool used to evaluate the risk of its loan operations and portfolios of 7(a) Lenders and Certified Development Companies. These updates involve improving the model that determines the loan risk ratings and updating the Lender Portal to ensure it reflects current data and economic conditions. The changes aim to enhance prediction accuracy and transparency while allowing the SBA to efficiently manage lender oversight and performance assessment. The public is invited to comment on these updates.

The Office of Management and Budget (OMB) has issued a request for information (RFI) to improve the domestic manufacturing of semiconductors for commercial information technology products. They are seeking feedback from the public on how to strengthen America's semiconductor supply chain by relying on domestic sources and reducing dependency on foreign production. The agency aims to gather insights on various strategies, including dual sourcing and industrial mobilization, to enhance national and economic security. Responses to the RFI will inform potential government actions to support U.S. semiconductor manufacturing and are due by March 17, 2025.

The Federal Housing Finance Agency (FHFA) has issued a final rule to update the rules for civil money penalties by adjusting them for inflation. This adjustment is in line with the Federal Civil Penalties Inflation Adjustment Act, ensuring penalties stay current with economic changes. The new penalty amounts will be effective from January 16, 2025, and apply to violations occurring on or after January 15, 2025. The FHFA will calculate penalties on a case-by-case basis, using a formula tied to changes in the Consumer Price Index, and these updates are mandated by law.

The Office of Foreign Assets Control (OFAC) under the Department of the Treasury has issued a final rule to adjust civil monetary penalties for inflation, as required by law. This adjustment aims to maintain the deterrent effect of these penalties by reflecting changes in the cost of living. The updated penalties apply across various statutes like the Trading With the Enemy Act, the International Emergency Economic Powers Act, and others. The rule will be effective beginning January 15, 2025, and does not require prior public notice or comment.

The Department of Justice has implemented a final rule to define the functions of the Office of the Executive Secretariat as a distinct part of the department. This Office, created in August 2023, will manage the review and approval of important documents and correspondence within the department and ensure they are processed efficiently. The rule is categorized as a change in agency organization and management, exempting it from typical procedures like prior notice or public comment. It does not have significant regulatory or economic impacts on small entities, states, or federalism.

The Rural Housing Service, part of the US Department of Agriculture (USDA), announced that it is accepting applications for the 2021 Community Facilities Technical Assistance and Training (TAT) Grant Program. This program aims to help organizations in rural areas access funding for essential community services. Applications must be submitted by March 29, 2021, for paper copies, and by March 22, 2021, for electronic submissions. The grants will focus on projects that strengthen rural communities, particularly those tackling issues like opioid misuse, under the USDA's efforts to boost rural economic prosperity and quality of life.

The Federal Trade Commission (FTC) has announced new adjustments to civil penalty amounts within its jurisdiction to account for inflation as mandated by the Federal Civil Penalties Inflation Adjustment Act of 2015. These changes, effective from January 13, 2021, affect various penalty amounts, including those related to premerger filing notifications, unfair or deceptive acts, and labeling violations. The adjustments are based on a cost-of-living adjustment formula that compares the Consumer Price Index from two preceding Octobers. This ensures penalties are updated annually to maintain their deterrent effect and to reflect economic changes.

The Department of Veterans Affairs (VA) has updated its rules for the Veterans Legacy Grants Program (VLGP) to align with new federal award regulations and to improve the grant administration process. These updates include changes to terms and timelines for reporting by grant recipients, without significantly impacting small entities receiving grants. The rule ensures that there are no new information collections required beyond those already approved and incorporates executive orders to maximize regulatory benefits. It will be effective from January 30, 2025, and does not impose significant economic impacts or unfunded mandates.