Frax regs ready for OMB signoff
FAR Part 91 Subpart K, which will regulate fractional-ownership operations, has finally moved out of Transportation Department final review and on to the W

FAR Part 91 Subpart K, which will regulate fractional-ownership operations, has finally moved out of Transportation Department final review and on to the White House Office of Management and Budget (OMB) for final scrutiny.

The OMB has up to 90 days to complete its analysis, although longer evaluations have occurred. But NBAA said the DOT expects a final decision from the OMB around June 4 because the OMB should have minimal concern with the rule since initial economic analysis indicates a positive economic effect on the community. It would then be published as a final rule, after which the FAA intends to phase it in within a 15-month compliance schedule.