E9-25680. Notice of Request for Extension of a Currently Approved Information Collection

AGENCY:

Rural Housing Service, USDA.

ACTION:

Proposed collection; comments requested.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995, this notice announces the Rural Housing Service's (RHS) intention to request an extension for a currently approved information collection in support of 7 CFR part 1951, subpart F, “Analyzing Credit Needs and Graduation of Borrowers.”

DATES:

Comments on this notice must be received on or before December 28, 2009 to be assured consideration.

FOR FURTHER INFORMATION CONTACT:

Derek L. Jones, Community Programs Loan Specialist, Rural Housing Service, U.S. Department of Agriculture, STOP 0787, 1400 Independence Ave., SW., Washington, DC 20250-0787, telephone [phone], e-mail: [e-mail].

SUPPLEMENTARY INFORMATION:

Title: 7 CFR, part 1951, subpart F, “Analyzing Credit Needs and Graduation of Borrowers”.

OMB Number: 0575-0093.

Expiration Date of Approval: January 31, 2010.

Type of Request: Extension of a currently approved information collection.

Abstract: Section 333 of the Consolidated Farm and Rural Development Act (Con Act) (7 U.S.C. 1983) requires the Agencies to “graduate” their direct loan borrowers to other credit when they are able to do so. Graduation is required because the Government loans are not to be extended beyond a borrower's need for subsidized rates or Government credit. Borrowers must refinance their direct Government loan when other credit becomes available at reasonable rates and terms. If other credit is not available, the Agencies will continue to review the account for possible graduation at periodic intervals. The information collected to carry out these statutory mandates is financial data such as amount of income, operating expenses, asset values and liabilities. This information collection is then submitted by the Agencies to private creditors.

Estimate of Burden: Public reporting for this collection of information is estimated to average 2 hours per response.

Respondents: Individuals or households, business or other for-profit and farms.

Estimated Number of Respondents: 131.

Estimated Number of Responses per Respondent: 1.

Estimated Number of Responses: 131.

Estimated Total Annual Burden on Respondents: 185 hours.

Copies of this information collection can be obtained from Linda Watts Thomas, Regulations and Paperwork Management Branch, at [phone].

Comments: Comments are invited on: (a) Whether the proposed collection of information is necessary for the proper performance of the functions of the RHS, including whether the information will have practical utility; (b) the accuracy of the RHS's estimate of the burden of the proposed collection of information including the validity of the methodology and assumptions used; (c) ways to enhance the quality, utility and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology. Comments may be sent to Linda Watts Thomas, Regulations and Paperwork Management Branch, Support Services Division, U.S. Department of Agriculture, Rural Development, STOP 0742, 1400 Independence Ave., SW., Washington, DC 20250. All responses to this notice will be summarized and included in the request of OMB approval. All comments will also become a matter of public record.

Dated: October 13, 2009.

Tammye Treviño,

Administrator, Rural Housing Service.