03-28451. Notice of Proposed Information Collection: Comment Request; Monthly Reports for Establishing Net Income

AGENCY:

Office of the Assistant Secretary for Housing—Federal Housing Commissioner, HUD.

ACTION:

Notice.

SUMMARY:

The proposed information collection requirement described below will be submitted to the Office of Management and Budget (OMB) for review, as required by the Paperwork Reduction Act. The Department is soliciting public comments on the subject proposal.

DATES:

January 12, 2004.

ADDRESSES:

Interested persons are invited to submit comments regarding this proposal. Comments should refer to the proposal by name and/or OMB Control Number and should be sent to: Wayne Eddins, Reports Management Officer, Department of Housing and Urban Development, 451 7th Street, SW., L'Enfant Plaza Building, Room 8001, Washington, DC 20410 or [e-mail].

FOR FURTHER INFORMATION CONTACT:

Kimberly Sanford-Munson, Office of Asset Management, Policy and Participation Standards Division, Department of Housing and Urban Development, 451 7th Street, SW., Washington, DC 20410, telephone [phone] ext. 5122 (this is not a toll free number) for copies of the proposed forms and other available information.

SUPPLEMENTARY INFORMATION:

The Department is submitting the proposed information collection to OMB for review, as required by the Paperwork Reduction Act of 1995 (44 U.S.C. chapter 35, as amended).

This Notice is soliciting comments from members of the public and affected agencies concerning the proposed collection of information to: (1) Evaluate whether the proposed collection is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; (2) Evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (3) Enhance the quality, utility, and clarity of the information to be collected; and (4) Minimize the burden of the collection of information on those who are to respond; including the use of appropriate automated collection techniques or other forms of information technology, e.g., permitting electronic submission of responses.

This Notice also lists the following information:

Title of Proposal: Monthly Reports for Establishing Net Income.

OMB Control Number, if applicable: 2502-0108.

Description of the need for the information and proposed use: The information collection is necessary for HUD to assess the need for remedial actions to correct project deficiencies or to prevent a potential default of the project mortgage. The information collection is also used to monitor compliance with contractual agreements and to analyze cash flow trends as well as occupancy and rent collection levels. When a project is experiencing rent collection problems, expenses directly affect this income. Therefore, HUD is responsible for reviewing monthly trends in a project's expenses and income to prevent potential problems.

Agency form numbers, if applicable: HUD-93479, HUD-93480, HUD-93481.

Estimation of the total numbers of hours needed to prepare the information collection including number of respondents, frequency of response, and hours of response: The estimated total number of burden hours needed to prepare the information collection is 168,000; the number of respondents is 4,000 generating 48,000 annual responses; the frequency of response is monthly; and the estimated time needed to prepare the responses varies from 1 hour to 11/2 hours.

Status of the proposed information collection: Extension of a currently approved collection.

Authority: The Paperwork Reduction Act of 1995, 44 U.S.C., chapter 35, as amended.

Dated: November 5, 2003.

Sean G. Cassidy,

General Deputy Assistant Secretary for Housing-Deputy Federal Housing Commissioner.