DATE: February 20, 2001

FROM: Barry McVay, CPCM

SUBJECT: Small Business Administration; Delay of Effective Date of New Markets Venture Capital Program Rule

SOURCE: Federal Register, February 20, 2001, Vol. 66, No. 34, page 10811

AGENCIES: Small Business Administration (SBA)

ACTION: Delay in Effective Date

SYNOPSIS: To comply with President Bush's memorandum directing the temporary 60 day delay in the implementation of regulations that have not gone into effect, SBA is delaying the effective date of its interim final rule implementing the New Markets Venture Capital ("NMVC") Program from February 21, 2001, to April 23, 2001.

EDITOR'S NOTE: For more on President's memorandum, see the January 24, 2001, FEDERAL CONTRACTS DISPATCH "Executive Office of the President; Delay in Regulatory Implementation."

For more on the rule being delayed, see the January 22, 2001, FEDERAL CONTRACTS DISPATCH "Small Business Administration; New Markets Venture Capital Program."

DATES: The effective date for the interim final rule is delayed 60 days, from February 21, 2001, to April 23, 2001.

FOR FURTHER INFORMATION CONTACT: Austin Belton, Director, Office of New Markets Venture Capital, Small Business Administration, 409 Third Street, SW, Washington, DC 20416, 202-205-6510.

SUPPLEMENTAL INFORMATION: On January 20, 2000, the day President Bush was inaugurated, the Executive Office of the President issued a memorandum to the heads of all federal agencies directing them to withdraw all rules and regulations that had been sent to the Federal Register but not published, and to postpone for 60 days the effective date of all rules and regulations that have been published in the Federal Register but have not taken effect.

Since the regulations implementing the NMVC program, which had been published January 22, 2001, were to take effect February 21, 2001, SBA is delaying its effective date for 60 days, until April 23, 2001.

FOR FURTHER INFORMATION CONTACT: Panoptic Enterprises at 703-451-5953 or by e-mail to Panoptic@FedGovContracts.com.

Copyright 2001 by Panoptic Enterprises. All Rights Reserved.

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