Notice2022-20899
Reporting and Recordkeeping Requirements Under OMB Review
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
September 27, 2022
Issuing agencies
Small Business Administration
Abstract
The Small Business Administration (SBA) is seeking approval from the Office of Management and Budget (OMB) for the information collection described below. In accordance with the Paperwork Reduction Act and OMB procedures, SBA is publishing this notice to allow all interested member of the public an additional 30 days to provide comments on the proposed collection of information.
Full Text
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<title>Federal Register, Volume 87 Issue 186 (Tuesday, September 27, 2022)</title>
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[Federal Register Volume 87, Number 186 (Tuesday, September 27, 2022)]
[Notices]
[Pages 58634-58635]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-20899]
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SMALL BUSINESS ADMINISTRATION
Reporting and Recordkeeping Requirements Under OMB Review
AGENCY: Small Business Administration.
ACTION: 30-Day notice.
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SUMMARY: The Small Business Administration (SBA) is seeking approval
from the Office of Management and Budget (OMB) for the information
collection described below. In accordance with the Paperwork Reduction
Act and OMB procedures, SBA is publishing this notice to allow all
interested member of the public an additional 30 days to provide
comments on the proposed collection of information.
DATES: Submit comments on or before October 27, 2022.
ADDRESSES: Written comments and recommendations for this information
collection request should be sent within 30 days of publication of this
notice to <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular
information collection request by selecting ``Small Business
Administration''; ``Currently Under Review,'' then select the ``Only
Show ICR for Public Comment'' checkbox. This information collection can
be identified by title and/or OMB Control Number.
FOR FURTHER INFORMATION CONTACT: You may obtain a copy of the
information collection and supporting documents from the Agency
Clearance Office at <a href="/cdn-cgi/l/email-protection#d291a7a0a6bba1fc80bbb1ba92a1b0b3fcb5bda4"><span class="__cf_email__" data-cfemail="57142225233e2479053e343f1724353679303821">[email protected]</span></a>; (202) 205-7030, or
[[Page 58635]]
from <a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</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
Comments may be submitted 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.
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: 30,866.
Total Estimated Annual Hour Burden: 8,647.
Curtis Rich,
Agency Clearance Officer.
[FR Doc. 2022-20899 Filed 9-26-22; 8:45 am]
BILLING CODE 8026-09-P
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