Notice2024-23767
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
October 15, 2024
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
<html>
<head>
<title>Federal Register, Volume 89 Issue 199 (Tuesday, October 15, 2024)</title>
</head>
<body><pre>
[Federal Register Volume 89, Number 199 (Tuesday, October 15, 2024)]
[Notices]
[Page 83069]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-23767]
=======================================================================
-----------------------------------------------------------------------
SMALL BUSINESS ADMINISTRATION
Data Collection Available for Public Comments
ACTION: 60-Day notice and request for comments.
-----------------------------------------------------------------------
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 December 16, 2024.
ADDRESSES: Send all comments via email to Shayne Bradshaw, Financial
Analyst, Office of Credit Risk Management, 202-996-5370 at
<a href="/cdn-cgi/l/email-protection#03706b627a6d662d61716267706b6274437061622d646c75"><span class="__cf_email__" data-cfemail="9be8f3fae2f5feb5f9e9faffe8f3faecdbe8f9fab5fcf4ed">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Paul Kirwin, Chief, Supervised Lender
Oversight Division, Office of Credit Risk Management,
<a href="/cdn-cgi/l/email-protection#663607130a482d0f14110f082615040748010910"><span class="__cf_email__" data-cfemail="6e3e0f1b024025071c1907002e1d0c0f40090118">[email protected]</span></a>, or Curtis B. Rich, Agency Clearance Officer, 202-
205-7030, <a href="/cdn-cgi/l/email-protection#e6859394928f95c8948f858ea6958487c8818990"><span class="__cf_email__" data-cfemail="a7c4d2d5d3ced489d5cec4cfe7d4c5c689c0c8d1">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The 504 Loan Program aims to foster economic
development and to create or preserve job opportunities in both urban
and rural areas by providing long-term financing for small business
concerns. A Certified Development Company (CDC) is an entity authorized
by the Small Business Administration (SBA) to deliver 504 financing to
small businesses. 13 CFR 120.830 requires CDCs to submit certain
reports to SBA, collectively known as the ``Annual Report''. As the
primary regulatory body overseeing CDCs, the SBA conducts due diligence
to ensure CDCs comply with the operational and regulatory requirements
of the 504 program, thereby ensuring its sustainability. The CDC Annual
Report Guide serves the Office of Credit Risk Management, the Office of
Financial Assistance, and all SBA District Offices by providing crucial
information on the CDCs' financial health, regulatory compliance, and
the effectiveness of their assistance to small businesses. This
information also aids the SBA in drafting reports to Congress.
The information collection has been adjusted to include the
following proposed changes:
1. Revised Economic Development Report: Standardized to gather
pertinent, measurable data on current period economic development
activity. Changes include the removal of certain information
collections such as the report on previous year's investment and
results, narrative on local economic changes which impact lending, and
economic development strategy and projections for the upcoming year.
2. Enhanced Guidance and Optional Tables: Added to facilitate the
compilation of the Report.
3. Requirement for Auditor's Engagement Letter: To be submitted
alongside CDC financial statements.
4. Updated 159 Reporting: Reflects changes in SOP 50 10 7.1, no
longer requiring completed Form 159 submissions with the Annual Report.
5. Report on Compensation: removed requirement for submission of
Executive Compensation Policy and certain supporting documentation.
6. Guidance for Program Renewals: Added instructions for the
Accredited Lenders Program (ALP) and Premier Certified Lenders Program
(PCLP) renewals.
These updates aim to streamline the information collection process,
reduce the administrative burden on CDCs, enhance the utility of the
report, and standardize data reporting to improve overall reporting
efficiency and oversight.
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: 3245-0074.
Title: Certified Development Company (CDC) Annual Report Guide.
Description of Respondents: Certified Development Companies.
Form Number: SBA Form 1253.
Total Estimated Annual Responses: 195.
Total Estimated Annual Hour Burden: 5,460 (28 Hours on average per
CDC).
Curtis B. Rich,
Agency Clearance Officer.
[FR Doc. 2024-23767 Filed 10-11-24; 8:45 am]
BILLING CODE 8026-09-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on October 15, 2024.
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.