[Federal Register Volume 61, Number 156 (Monday, August 12, 1996)]
[Notices]
[Pages 41767-41768]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20410]
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DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service
Notice of Request for Revision of a Currently Approved
Information Collection
AGENCY: Rural Business-Cooperative Service, USDA.
ACTION: Proposed collection; Comments request.
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SUMMARY: The Rural Business-Cooperative Service (RBS) is the successor
to the Rural Business and Cooperative Development Service (RBCDS),
which was a successor to the Rural Development Administration (RDA),
which was a successor to the Farmers Home Administration (FmHA).
In accordance with the Paperwork Reduction Act of 1995, this notice
announces RBS' intention to request an extension of a currently
approved information collection in support of the Intermediary
Relending Program (IRP).
DATES: Comments on this notice must be received by October 11, 1996.
FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Loan Specialist,
Rural Business-Cooperative Service, USDA, Ag. Box 1521, Washington, DC
20250, Telephone: (202) 720-6819.
SUPPLEMENTARY INFORMATION:
Title: RBS/Intermediary Relending Program.
OMB Number: 0575-0130.
Expiration Date of Approval: January 1997.
Type of Request: Revision of a currently approved information
collection.
Abstract: A proposed rule for a complete revision of the IRP
regulations (7 CFR 1948, subpart C) was published in the Federal
Register on January 18, 1995, at 60 FR 3566. The public reporting
burden for information collection associated with that proposed rule
was approved by the Office of Management and Budget (OMB) under OMB No.
0575-0130. After considering the public comments on the proposed rule,
the Agency now proposes to include some additional changes in the final
rule that will impact on the public reporting burden. Accordingly, the
Agency will seek OMB approval for a revision in the public reporting
burden for information collection associated with the IRP regulations.
The objective of the IRP is to improve community facilities and
employment opportunities and increase economic activity in rural areas
by financing business facilities and community development. This
purpose is achieved through loans made by RBS to intermediaries that
establish programs for the purpose of providing loans to ultimate
recipients for business facilities and community development. The
regulations contain various requirements for information from the
intermediaries and some requirements may cause the intermediary to
require information from ultimate recipients. The information requested
is vital for RBS to be able to process applications in a responsible
manner, make prudent credit and program decisions, and effectively
monitor the intermediaries' activities to protect the Government's
financial interest and ensure that funds obtained from the Government
are used appropriately. It includes information to identify the
intermediary, describe the intermediary's experience and expertise,
describe how the intermediary will operate its revolving loan fund,
provide for debt instruments, loan agreements, and security, and other
material necessary for prudent credit decisions and reasonable program
monitoring. The changes being proposed include providing operating
plans for revolving lines of credit. Revolving lines of credit are
currently not allowed, but consideration is being given to authorizing
such loans if certain conditions, including having sound operating
plans and procedures, are met. Another proposed change requires
additional details in the work plan regarding goals, strategies,
anticipated outcomes, and technical assistance. The
[[Page 41768]]
increase in burden is offset by eliminating the requirement for
specific collateral assignments and by providing a new shorter form for
supplemental loan agreements to be used with subsequent loans. The net
effect of the changes will be to reduce the total paperwork and record
keeping burden slightly.
Estimate of Burden: Public reporting burden for this collection of
information is estimated to average 3.72 hours per response.
Respondents: Non-profit corporations, public agencies, and
cooperatives.
Estimated number of Respondents: 160.
Estimated number of responses per respondent: 30.35.
Estimated total annual burden on respondents: 16,930 hours.
Copies of this information collection can be obtained from Sam
Spencer, Rural Business Team Information collection Coordinator, at
(202) 720-9588.
Comments: Comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Agency, including whether the information will
have practical utility; (b) the accuracy of the agency'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 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 Sam
Spencer, Rural Business Team Information Collection Coordinator,
Regulations and Paperwork Management Division, U. S. Department of
Agriculture, Rural Development, STOP 0743, Washington, DC 20250. All
responses to this notice will be summarized and included in the request
for OMB approval. All comments will become a matter of public record.
Dated: August 5, 1996.
Dayton J. Watkins,-
Administrator, Rural Business-Cooperative Service.--
[FR Doc. 96-20410 Filed 8-9-96; 8:45 am]
BILLING CODE 3410-07-U
