Notice2023-03211
Information Collection Request; Inventory Property Management
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
February 15, 2023
Issuing agencies
Agriculture DepartmentFarm Service Agency
Abstract
In accordance with the Paperwork Reduction Act of 1995, the Farm Service Agency (FSA) is requesting comments from all interested individuals and organizations on an extension with a revision of a current information collection request for Inventory Property Management. For Inventory Property Management, the collected information is used to evaluate applicant requests to purchase inventory property, determine eligibility to lease or purchase inventory property, and ensure the payment of the lease amount or purchase amount associated with the acquisition of inventory property.
Full Text
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<title>Federal Register, Volume 88 Issue 31 (Wednesday, February 15, 2023)</title>
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[Federal Register Volume 88, Number 31 (Wednesday, February 15, 2023)]
[Notices]
[Pages 9855-9856]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-03211]
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DEPARTMENT OF AGRICULTURE
Farm Service Agency
[Docket ID FSA-2023-0002]
Information Collection Request; Inventory Property Management
AGENCY: Farm Service Agency, USDA.
ACTION: Notice; request for comment.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the
Farm Service Agency (FSA) is requesting comments from all interested
individuals and organizations on an extension with a revision of a
current information collection request for Inventory Property
Management. For Inventory Property Management, the collected
information is used to evaluate applicant requests to purchase
inventory property, determine eligibility to lease or purchase
inventory property,
[[Page 9856]]
and ensure the payment of the lease amount or purchase amount
associated with the acquisition of inventory property.
DATES: We will consider comments that we receive by April 17, 2023.
ADDRESSES: We invite you to submit comments on the notice. You may
submit comments by any of the following methods:
<bullet> Federal eRulemaking Portal: Go to <a href="http://regulations.gov">http://regulations.gov</a>
and search for docket ID FSA-2023-0002. Follow the online instructions
for submitting comments.
<bullet> Mail: Lee Nault, Loan Servicing and Properties Management
Division, USDA, FSA, Farm Loan Programs, 1400 Independence Ave. SW,
Mail Stop 0523, Washington, DC 20250-00523.
Comments will be available for inspection online at <a href="http://www.regulations.gov">http://www.regulations.gov</a>. Copies of the information collection may be
requested by contacting Lee Nault (see FOR FURTHER INFORMATION CONTACT
below). You may also send comments to the Desk Officer for Agriculture,
Office of Information and Regulatory Affairs, Office of Management and
Budget, Washington, DC 20503.
FOR FURTHER INFORMATION CONTACT: Lee Nault, (202) 720-6834; email:
<a href="/cdn-cgi/l/email-protection#307c55551e7e51455c4470454354511e575f46"><span class="__cf_email__" data-cfemail="1c50797932527d6970685c696f787d327b736a">[email protected]</span></a>. Persons with disabilities who require alternative
means for communication should contact the USDA Target Center at (202)
720-2600 (voice).
SUPPLEMENTARY INFORMATION:
Description of Information Collection Request
Title: Inventory Property Management.
OMB Number: 0560-0234.
Expiration Date of Approval: 06/30/2023.
Type of Request: Revision.
Abstract: FSA's Farm Loan Programs provide supervised credit in the
form of loans to family farmers to purchase real estate and equipment
and finance agricultural production. Inventory Property Management, as
specified in 7 CFR part 767, provides the requirements for the
management, lease, and sale of security property acquired by FSA. FSA
may take title to real estate as part of dealing with a problem loan
either by entering a winning bid to protect its interest at a
foreclosure sale, or by accepting a deed of conveyance in lieu of
foreclosure. Information collections established in the regulation are
necessary for FSA to determine an applicant's eligibility to lease or
purchase inventory property and to ensure the applicant's ability to
make payment on the lease or purchase amount.
The number of responses and burden hours decreased by 79 and 46,
respectively. While the overall number of inventory properties on hand
increased 4.76% from the last collection, the decrease in responses and
burden hours is due to a reduction in the estimated number of inventory
properties that will be sold annually. The number projected to be sold
has been revised downward due to the current suspension of foreclosures
for direct FLP loans and anticipated significantly decreased rate at
which new properties are acquired by FSA. Additionally, sales are
managed in order to not flood the market and usage of forms should stay
consistent.
For the following estimated total annual burden on respondents, the
formula used to calculate the total burden hour is the estimated
average time per responses hours multiplied by the estimated total
annual responses.
Estimate of Average Time to Respond: Public reporting burden for
this collection of information is estimated to average 0.56 hours per
response.
Type of Respondents: Individuals or households, business, or other
for-profit farms.
Estimated Annual Number of Respondents: 160.
Estimated Number of Responses per Respondent: 1.
Estimated Total Annual Responses: 160.
Estimated Average Time per Responses: 0.56 hours.
Estimated Total Annual Burden on Respondents: 90 hours.
We are requesting comments on all aspects of this information
collection to help us to:
(1) Evaluate whether the collection of information is necessary for
the proper performance of the functions of FSA, including whether the
information will have practical utility;
(2) Evaluate the accuracy of FSA's estimate of burden including the
validity of the methodology and assumptions used;
(3) Enhance the quality, utility, and clarity of the information to
be collected;
(4) 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.
All responses to this notice, including names and addresses when
provided, will be summarized and included in the request for OMB
approval. All comments will also become a matter of public record.
Zach Ducheneaux,
Administrator, Farm Service Agency.
[FR Doc. 2023-03211 Filed 2-14-23; 8:45 am]
BILLING CODE 3411-25-P
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