[Federal Register Volume 61, Number 238 (Tuesday, December 10, 1996)]
[Notices]
[Pages 65010-65012]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-31305]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service
Rural Business-Cooperative Service
Rural Utilities Service
Farm Service Agency
Notice of Request for Comments on Approved Information Collection
Packages
AGENCIES: Rural Housing Service, Rural Business-Cooperative Service,
Rural Utilities Service, and Farm Service Agency, UDSA.
ACTION: Proposed collection; comments request.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995 (Pub.
L. 104-13), this notice announces the intention of the Rural Housing
Service (RHS), Rural Business-Cooperative Service (RBS), the Rural
Utilities Service (RUS), and the Farm Service Agency (FSA) to request a
revision to and extension for information collection currently approved
in support of the Direct Farm Ownership Loan Program Regulations under
Office of Management and Budget (OMB) control number 0560-0157; the
Farm Credit Account Servicing Regulations under OMB control number
0560-0161; the Liquidation of Loans Secured by Real Estate and
Acquisition of Real and Chattel Property Regulations under OMB control
number 0575-0109; the Management of Property Regulations under OMB
control number 0575-0110; the Debt Settlement, Farmer Programs and
Housing Regulation under OMB control number 0575-0118; and a
reinstatement with change, for information collection in support of the
Application for Direct Loan Assistance under OMB control number 0560-
0167. These regulations are published under the authority of the
Consolidated Farm and Rural Development Act, as amended.
Revisions are necessary as a result of program changes mandated by
the Federal Agriculture Improvement and Reform Act of 1996 (1996 Act).
The provisions of the 1996 Act became effective either upon enactment
of the legislation on April 4, 1996, or 90 days thereafter. Therefore,
emergency clearance for the information collection was requested and
approved under OMB control numbers 0560-0172 and 0560-0173.
DATES: Comments on this notice must be received on or before February
10, 1997 to be assured consideration.
FOR FURTHER INFORMATION CONTACT: William D. Cobb, Senior Loan Officer,
[[Page 65011]]
Loan Servicing and Property Management Division, Farm Service Agency,
USDA/FSA/LSPMD/ Stop 0523, P.O. Box 2415, Washington, DC 20013-2415;
Telephone (202)720-1059.
SUPPLEMENTARY INFORMATION:
Title: 7 CFR 1943-A, Direct Farm Ownership Loan Policies,
Procedures, and Authorizations.
OMB Number: 0560-0157.
Expiration Date of Approval: May 31, 1998.
Type of Request: Revision and Extension of a Currently Approved
Information Collection.
Abstract: The information collected under OMB Number 0560-0157, as
identified above, is needed to enable FSA to effectively administer the
regulation relating to making initial and subsequent direct Farm
Ownership (FO) loans. The basic objective of the FO loan program is to
provide credit and management assistance to eligible farmers and
ranchers to become owner-operators of family-sized farms, or to
continue such operations when credit is not available elsewhere.
FSA County Offices must collect information from applicants
requesting direct FO assistance in order to assure that the program is
carried out in accordance with the applicable laws and authorities. The
information collected will be used to determine program eligibility and
feasibility of the loan request. Program eligibility requirements
require that the applicant be a United States citizen; possess the
legal capacity to incur the obligations of the loan; have sufficient
training or experience to assure a reasonable prospect of success; have
the character, industry and ability to carry out the proposed
operation; is or will become the owner-operator of a family sized farm;
and is unable to obtain sufficient credit elsewhere. Loan feasibility
addresses FSA's determination that both loan repayment and adequate
security are available.
The 1996 Act modified the authorized loan purposes for direct FO
loans by eliminating the refinancing of existing indebtedness and as a
result, creditors of the applicant will no longer be requested to
provide evidence of the need to refinance debts. Additionally, the
acquisition, installation, and modification of any qualified non-fossil
energy system located on the farm is no longer an authorized loan
purpose. Therefore, applicants will no longer need to provide written
evidence that an operating permit for the production of alcohol fuel
has been obtained from the Bureau of Alcohol, Tobacco and Firearms. The
public reporting burden under the requirements of the regulation are
shown in the following estimates:
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .38 hours per response.
Respondents: Individuals or households, farms.
Estimated Number of Respondents: 160.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 61 hours.
Title: 7 CFR 1951-S, Farmer Credit Programs Account Servicing
Policies
OMB Number: 0560-0161.
Expiration Date of Approval: June 30, 1997.
Type of Request: Revision and Extension of a Currently Approved
Information Collection.
Abstract: The information collected under OMB Number 0560-0161, as
identified above, is needed to enable FSA to effectively administer the
regulation relating to the policies and procedures used in servicing
most Farm Credit program loans. It is a primary objective of the Agency
to provide supervised credit to borrowers in financial difficulty in a
manner that will assure the maximum opportunity for the borrower's
recovery and at the same time, ensure the maximum recovery to the
Government.
FSA County Offices must collect information from financially
distressed and delinquent borrowers requesting primary or preservation
loan servicing in order to determine program eligibility and the
feasibility of the request. Primary loan servicing includes loan
consolidation, rescheduling, reamortization, deferral, writedown and
interest rate reductions. Preservation loan servicing is limited to the
homestead protection program.
Provisions of the 1996 Act included the elimination of the
leaseback/buyback program and requires buyout at the current market
value rather than the net recovery value of security property when debt
restructuring will not resolve a delinquent account. The regulatory
revisions made as a result of these provisions will eliminate
information collection currently approved for several exhibits and
attachments which are no longer required. Other provisions of the 1996
Act, which include a limitation of one debt forgiveness on direct loans
and the authority to enter into contracts for conservation, recreation,
and wildlife purposes rather than the establishment of an easement
result in a change in the number of respondents for other exhibits,
attachments or forms. The regulation results in public reporting burden
as shown in the following estimates:
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .22 hours per response.
Respondents: Individuals or households, state or local governments,
farms, businesses or other for profit, small businesses or
organizations.
Estimated Number of Respondents: 10,400.
Estimated Number of Responses per Respondent: 2.53.
Estimated Total Annual Burden on Respondents: 5,878 hours.
Title: Liquidation of Loans Secured by Real Estate and Acquisition
or Real and Chattel Property.
OMB Number: 0575-0109.
Expiration Date of Approval: May 31, 1997.
Type of Request: Revision and Extension of a Currently Approved
Information Collection.
Abstract: The information collected under OMB Number 0575-0109, as
identified above, is needed to enable RBS, RUS and FSA to effectively
administer the regulation relating to liquidation and acquisition of
real estate and chattel security when it is determined that all loan
servicing efforts have failed to produce a successful outcome. The
primary means of liquidating loans and acquiring security is through
either conveyance by the borrower or foreclosure. The information
collected under this regulation is in response to a borrower's offer to
convey security property to the Agency in lieu of foreclosure, or to
cure a default after the acceleration of the loan account to forestall
foreclosure action. The information is essential for the Agency to
evaluate the terms of the offer and determine if acceptance is in the
Government's best interest.
Provisions of the 1996 Act require FSA to provide Native American
borrower-owners who do not voluntarily convey their real property
security to the Agency the option of (1) requiring FSA to assign the
loan and security instruments to the Secretary of Interior, or (2)
requiring FSA to assign the loan and the security instruments to the
tribe having jurisdiction over the reservation where the property is
located not less than 30 days prior to the foreclosure of the property.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .57 hours per response.
Respondents: Individuals or households, state or local governments,
farms, businesses or other for profit,
[[Page 65012]]
non-profit institutions, small businesses or organizations.
Estimated Number of Respondents: 5410.
Estimated Number of Responses per Respondent: 1.92.
Estimated Total Annual Burden on Respondents: 5,917 hours.
Title: Management of Property.
OMB Number: 0575-0110.
Expiration Date of Approval: July 31, 1998.
Type of Request: Revision and Extension of a Currently Approved
Information Collection.
Abstract: The information collected under OMB Number 0575-0110, as
identified above, is needed to enable RHS, RBS, RUS and FSA to
effectively administer the regulation relating to the management of
custodial and inventory. RHS, RBS, RUS and FSA will consider real
estate and chattel security which has been abandoned by the borrower as
custodial property. Inventory property is acquired through either
foreclosure or the voluntary conveyance of the deed or title in lieu of
foreclosure. The agencies may take actions such as securing,
maintaining, or repairing the property as necessary to protect the
Government's interest. In addition, properties may be leased under
certain limited conditions.
The 1996 Act eliminated FSA's ability to lease inventory farm
property except to those beginning farmers or ranchers who are selected
to purchase an inventory property, but are unable to do so due to a
lack of Agency credit funds. Such leases may not exceed 18 months or
the date that FSA credit assistance becomes available.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .34 hours per response.
Respondents: Individuals or households, businesses or other for-
profit, state and local governments, farms.
Estimated Number of Respondents: 2,810.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 960 hours.
Title: Debt Settlement
OMB Number: 0575-0118.
Expiration Date of Approval: September 30, 1997.
Type of Request: Revision and Extension of a Currently Approved
Information Collection.
Abstract: The information collected under OMB Number 0575-0118, as
identified above, is needed to enable RHS, RBS, RUS and FSA to
effectively administer the regulation relating to settlement of debts
owed under the agencies loan programs. The regulation establishes the
requirements for debt settlement and the factors the agency will
consider in approving or rejecting the offer. The information is
essential for the Agency to evaluate the terms of the offer and
determined if acceptance is in the Government's best interest.
The 1996 Act established a limitation of one debt forgiveness on
direct loans for FSA borrowers. This limitation will reduce the number
of FSA borrowers for which a debt settlement can be approved under the
regulation.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average .50 hours per response.
Respondents: Individuals or households, state or local governments,
farms, businesses or other for-profit, small businesses or
organizations.
Estimated Number of Respondents: 14,950.
Estimated Number of Responses per Respondent: 1.11.
Estimated Total Annual Burden on Respondents: 14,825 hours.
Title: Form FmHA 410- 1, Application for Direct Loan Assistance.
OMB Number: 0560-0167.
Expiration Date: June 30, 1996.
Type of Request: Revision and Extension of Information Collection.
Abstract: The information collected under OMB Number 0560-0167, as
identified above, is needed to enable FSA to effectively administer the
regulations relating to the policies and procedures used in making and
servicing direct Farm Credit program loans. The direct loan program is
designed to assist family farmers and ranchers who are temporarily
unable to obtain private, commercial credit. FSA has the responsibility
of providing credit counseling and supervision to direct borrowers. A
thorough assessment is completed to evaluate the adequacy of the real
estate and facilities, machinery and equipment, financial and
production management, and goals. The agency works with the farmer or
rancher to develop a plan of supervision that will ultimately result in
the borrower's graduation to commercial credit. FSA can provide certain
loan servicing benefits to assist the borrower in meeting the goals
established in the plan. Form FmHA 410-1, Request for Direct Loan
Assistance is used by the FSA County Offices to collect information
needed to determine both eligibility and feasibility of a request for a
loan or loan servicing.
The aforementioned form results in public reporting burden as
shown in the following estimates:
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 1.035 hours per response.
Respondents: Individuals or households, farms, businesses or other
for-profit, small businesses or organizations.
Estimated Number of Respondents: 44,200.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Burden on Respondents: 45,760 hours.
Copies of the information collection can be obtained from Barbara
Williams, Regulations and Paperwork Management Division, at (202) 720-
9734.
Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the agencies,
including whether the information will have practical utility; (b) the
accuracy of the agencies estimate of the burden of the proposed
collection of information including the validity of the methodology and
assumption 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 should be sent to Barbara Williams, Regulations
and Paperwork Management Division, U.S. Department of Agriculture,
Rural Development, Stop 0743, Washington, DC 20250-0743. All responses
to this notice will be summarized and included in the request for OMB
approval. All comments will also become a matter of public record.
Dated: November 26, 1996.
Jan E. Shadburn,
Acting Administrator, Rural Housing Service.
Dated: November 26, 1996.
Dayton J. Watkins,
Administrator, Rural Business-Cooperative Service.
Dated: December 3, 1996.
Wally Beyer,
Administrator, Rural Utilities Service.
Dated: December 3, 1996.
Bruce R. Weber,
Acting Administrator, Farm Service Agency.
[FR Doc. 96-31305 Filed 12-9-96; 8:45 am]
BILLING CODE 3410-05-P
