Notice2022-05739
Data Collection Available for Public Comments
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 18, 2022
Issuing agencies
Small Business Administration
Abstract
The Small Business Administration (SBA) intends to request approval, from the Office of Management and Budget (OMB) for the collection of information described below. The Paperwork Reduction Act (PRA) requires federal agencies to publish a notice in the Federal Register concerning each proposed collection of information before submission to OMB, and to allow 60 days for public comment in response to the notice. This notice complies with that requirement.
Full Text
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<title>Federal Register, Volume 87 Issue 53 (Friday, March 18, 2022)</title>
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[Federal Register Volume 87, Number 53 (Friday, March 18, 2022)]
[Notices]
[Page 15482]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-05739]
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SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
AGENCY: Small Business Administration.
ACTION: 60-Day notice and request for comments.
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SUMMARY: The Small Business Administration (SBA) intends to request
approval, from the Office of Management and Budget (OMB) for the
collection of information described below. The Paperwork Reduction Act
(PRA) requires federal agencies to publish a notice in the Federal
Register concerning each proposed collection of information before
submission to OMB, and to allow 60 days for public comment in response
to the notice. This notice complies with that requirement.
DATES: Submit comments on or before May 17, 2022.
ADDRESSES: Send all comments to Jermaine Perry, Management Analyst,
Office of Surety Guarantee, Small Business Administration, Washington,
DC 20416.
FOR FURTHER INFORMATION CONTACT: Jermaine Perry, Management Analyst,
Office of Surety Guarantee, <a href="/cdn-cgi/l/email-protection#204a45524d41494e450e5045525259605342410e474f56"><span class="__cf_email__" data-cfemail="dcb6b9aeb1bdb5b2b9f2acb9aeaea59cafbebdf2bbb3aa">[email protected]</span></a> 202-401-8275, or
Curtis B. Rich, Management Analyst, 202-205-7030, <a href="/cdn-cgi/l/email-protection#fc9f898e88958fd28e959f94bc8f9e9dd29b938a"><span class="__cf_email__" data-cfemail="15766067617c663b677c767d556677743b727a63">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: Under its Surety Bond Guarantee Program (SBG
Program), the U.S. Small Business Administration is authorized to
guarantee a bid bond, payment bond, performance bond, as well as any
required related ancillary bonds, on a contract issued to a small
business contractor up to $6.5 million or up to $10 million if a
Federal contracting officer certifies that SBA's guarantee is
necessary. See Title IV of the Small Business Investment Act (SBIA),
part B, 15 U.S.C. 694a et seq. The SBG Program was created to encourage
surety companies to issue bonds for small business contractors. The
SBIA authorizes SBA to establish the terms and conditions for providing
surety bond guarantee assistance and for paying claims resulting from
any contractor defaults.
This information collection consists of forms relating to the
application process for an SBA-guaranteed bond and claims for the
reimbursement of losses, including SBA Forms 990, 991, 994, 994B, 994F,
and 994H. Except in the case of SBA Form 994H, SBA uses the information
to evaluate whether the small business applicant meets the eligibility
requirements for a surety bond, as well as the likelihood that the
small business will successfully complete the bonded contract. The
information collected for this purpose includes: Demographics on all
owners of the bond applicant, which has no bearing on the credit
decision; the status of any current or past SBA financial assistance
provided to the applicant; NAICS code for applicant's industry;
financial statements; contract amount and nature of contract
performance; and in the event performance has begun, evidence that
applicant has paid all suppliers and subcontractors. With respect to
SBA Form 994H, SBA uses the information collected to evaluate the
surety's claim for reimbursement of losses. Surety is required to
provide information regarding the date the small business defaulted on
the contract; the reason for the default, the amount of any recoveries,
and any additional information that would support the surety's claim
for reimbursement.
Solicitation of Public Comments
SBA is requesting comments on (a) Whether the collection of
information is necessary for the agency to properly perform its
functions; (b) whether the burden estimates are accurate; (c) whether
there are ways to minimize the burden, including through the use of
automated techniques or other forms of information technology; and (d)
whether there are ways to enhance the quality, utility, and clarity of
the information.
Summary of Information Collection
OMB Control Number: 3245-0007.
Title: Surety Bond Guarantee Assistance.
Description of Respondents: Surety Companies.
Form Number: SBA Form 990, 991, 994B, 994H.
Total Estimated Annual Responses: 21,046.
Total Estimated Annual Hour Burden: 3,065.
Curtis Rich,
Management Analyst.
[FR Doc. 2022-05739 Filed 3-17-22; 8:45 am]
BILLING CODE 8026-03-P
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