Notice2024-03847
Agency Information Collection Activities; Submission for OMB Review; Comment Request; State Small Business Credit Initiative
Primary source
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Published
February 26, 2024
Issuing agencies
Treasury Department
Abstract
The Department of the Treasury will submit the following information collection request to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
Full Text
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<title>Federal Register, Volume 89 Issue 38 (Monday, February 26, 2024)</title>
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[Federal Register Volume 89, Number 38 (Monday, February 26, 2024)]
[Notices]
[Pages 14151-14152]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-03847]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Submission for OMB
Review; Comment Request; State Small Business Credit Initiative
AGENCY: Departmental Offices, U.S. Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury will submit the following
information collection request to the Office of Management and Budget
(OMB) for review and clearance in accordance with the Paperwork
Reduction Act of 1995, on or after the date of publication of this
notice. The public is invited to submit comments on these requests.
DATES: Written comments must be received on or before March 27, 2024 to
be assured of consideration.
ADDRESSES: Written comments and recommendations for the proposed
information collection 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 by selecting ``Currently under Review--Open for
Public Comments'' or by using the search function.
FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be
obtained from Spencer W. Clark by emailing <a href="/cdn-cgi/l/email-protection#6b3b392a2b1f190e0a181e1912450c041d"><span class="__cf_email__" data-cfemail="0d5d5f4c4d797f686c7e787f74236a627b">[email protected]</span></a>, calling
(202) 927-5331, or viewing the entire information collection request at
<a href="http://www.reginfo.gov">www.reginfo.gov</a>.
SUPPLEMENTARY INFORMATION:
Title: State Small Business Credit Initiative.
OMB Control Number: 1505-0227.
Type of Review: Revision of a currently approved collection.
Description: This information collection captures information
related to the State Small Business Credit Initiative (SSBCI). The
American Rescue Plan Act of 2021 (ARPA) reauthorized and amended the
Small Business Jobs Act of 2010 (SSBCI statute) to fund the SSBCI as a
response to the economic effects of the COVID-19 pandemic.\i\ SSBCI is
a Federal program administered by the U.S. Department of the Treasury
(Treasury) that was created to strengthen the programs of jurisdictions
(i.e., States, the District of Columbia, Territories, Tribal
governments) that support private financing for small businesses. SSBCI
includes the Capital Program, through which Treasury provides funding
to jurisdictions to expand access to capital for small businesses, and
the Technical Assistance (TA) Program, through which jurisdictions
provide legal, accounting, and financial advisory services (TA
services) to very small and underserved businesses that are applying
for SSBCI Capital Program funding and other governmental programs that
support small businesses (eligible beneficiaries). The TA Program
includes an allocation-formula based TA Grant Program, as well as the
competitive grant SSBCI Investing in America Small Business Opportunity
Program (SBOP), which Treasury recently announced via a Notice of
Funding Opportunity (NOFO). Treasury is updating the burden estimate
for OMB Control Number 1505-0227 to better account for applications
received under the SBOP, as well as proposed SBOP reporting
requirements.\ii\
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\i\ ARPA, Public Law 117-2, sec. 3301, codified at 12 U.S.C.
5701 et seq. SSBCI was originally established in title III of the
Small Business Jobs Act of 2010.
\ii\ The draft SSBCI Investing in America SBOP application,
including related templates and other application materials, is
available on Treasury's website at <a href="https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials">https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials</a>.
If awarded a grant under the SBOP, Treasury anticipates that SBOP
recipients will be required to submit progress performance reports
annually and financial reports via Form SF-425 semi-annually, in
accordance with 2 CFR 200.328 and 200.329 and the terms and
conditions of the grant. For progress performance reporting, SBOP
recipients will be required to track and submit data on Treasury-
specific data elements. Treasury proposes to require reports for the
SSBCI Investing in America SBOP in substantially the form of the
reporting guidance used for the formula-based TA Grant Program,
which may be found on Treasury's website at <a href="https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Reporting-Guidance.pdf">https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Reporting-Guidance.pdf</a>.
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Form: Treasury's portal, various templates.
Affected Public: State, Territorial and Tribal governments, small
businesses.
Estimated Number of Respondents: 100 for application submission; 15
for reporting.
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Frequency of Response: For application submission: one time; for
grant award modifications: on occasion; for reporting: annually and
semiannually.
Estimated Total Number of Annual Responses: The current estimate
for OMB Control Number 1505-0227 is 112,376. Treasury estimates the
SSBCI Investing in America SBOP will increase this estimate by 6,115 to
118,491.
Estimated Time per Response: For the SSBCI Investing in America
SBOP, depending on the type of collection Treasury estimates that
responses will take 9 minutes up to 6 hours.
Estimated Total Annual Burden Hours: The current estimate for OMB
Control Number 1505-0227 is 24,877. Treasury estimates the SSBCI
Investing in America SBOP will increase this estimate by 1,530 hours to
26,407.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-03847 Filed 2-23-24; 8:45 am]
BILLING CODE 4810-AK-P
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