Notice2022-23702
Submission for OMB Review; Comment Request
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
November 1, 2022
Issuing agencies
Agriculture Department
Full Text
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<title>Federal Register, Volume 87 Issue 210 (Tuesday, November 1, 2022)</title>
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[Federal Register Volume 87, Number 210 (Tuesday, November 1, 2022)]
[Notices]
[Page 65739]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2022-23702]
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DEPARTMENT OF AGRICULTURE
Submission for OMB Review; Comment Request
The Department of Agriculture has submitted the following
information collection requirement(s) to OMB for review and clearance
under the Paperwork Reduction Act of 1995, Public Law 104-13. Comments
are requested regarding: whether the collection of information is
necessary for the proper performance of the functions of the agency,
including whether the information will have practical utility; the
accuracy of the agency's estimate of burden including the validity of
the methodology and assumptions used; ways to enhance the quality,
utility and clarity of the information to be collected; and 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 regarding this information collection received by December
1, 2022 will be considered. Written comments and recommendations for
the proposed information collection should be submitted within 30 days
of the publication of this notice on the following website
<a href="http://www.reginfo.gov/public/do/PRAMain">www.reginfo.gov/public/do/PRAMain</a>. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
An agency may not conduct or sponsor a collection of information
unless the collection of information displays a currently valid OMB
control number and the agency informs potential persons who are to
respond to the collection of information that such persons are not
required to respond to the collection of information unless it displays
a currently valid OMB control number.
Rural Housing Service
Title: 7 CFR 1951-F, Analyzing Credit Needs and Graduation Review.
OMB Control Number: 0575-0093.
Summary of Collection: The Rural Housing Service (RHS or the
Agency) offers a variety of programs to build and improve housing and
essential community facilities in rural areas. The Agency offers loans,
grants, loan guarantees, and supervised credit in the form of Community
Facility (CF) loans. The CF loan program of RHS is authorized by
Section 306 of the Consolidated Farm and Rural Development Act (CONACT)
(7 U.S.C. 1926). The purpose of the CF loan program is to make loans to
public entities, nonprofit corporations, and Indian tribes for the
development of essential community facilities for public use in rural
areas. The notes, security instruments, or loan agreements of most
borrowers require them to refinance their Agency loans when other
credit becomes available at reasonable rates and terms for loan
graduation, otherwise known as loan graduation. Direct loan graduation
is an integral part of the Agency's lending, as government issued loans
are not meant to be extended beyond a borrower's need for subsidized
rates or non-market terms.
Section 333 of the CONACT (7 U.S.C. 1983), as amended, requires the
Agency to graduate their direct loan borrowers to other credit when
they can. Graduation is required because the government loans are not
to be extended beyond a borrower's need for subsidized rates or
Government credit. Borrowers must refinance their direct Government
loan when other credit becomes available at reasonable rates and terms.
If other credit is not available, the Agencies will continue to
periodically review the account for possible graduation intervals.
Need and Use of the Information: The information is collected by
the Agency which will be used in the Agency's efforts to graduate
direct loan borrowers to private credit, with or without the Agency
loan guarantees. The Agency will conduct a thorough review of the
borrower's financial information to determine whether they are able to
graduate to other credit. RHS uses this information to evaluate the
borrower's financial condition for direct loan graduation purposes and
which assists the Agency with the review of the borrower's financial
strength and repayment ability. This review will eliminate borrowers
who are unable to meet the lending criteria and policies of the area
lenders.
Description of Respondents: Business or other for-profit.
Number of Respondents: 437.
Frequency of Responses: Reporting: Annually.
Total Burden Hours: 874.
Levi S. Harrell,
Departmental Information Collection Clearance Officer.
[FR Doc. 2022-23702 Filed 10-31-22; 8:45 am]
BILLING CODE 3410-XV-P
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</html>Indexed from Federal Register on November 1, 2022.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.