[Federal Register Volume 61, Number 156 (Monday, August 12, 1996)]
[Notices]
[Pages 41767-41768]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-20410]


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DEPARTMENT OF AGRICULTURE
Rural Business-Cooperative Service


Notice of Request for Revision of a Currently Approved 
Information Collection

AGENCY: Rural Business-Cooperative Service, USDA.

ACTION: Proposed collection; Comments request.

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SUMMARY: The Rural Business-Cooperative Service (RBS) is the successor 
to the Rural Business and Cooperative Development Service (RBCDS), 
which was a successor to the Rural Development Administration (RDA), 
which was a successor to the Farmers Home Administration (FmHA).
    In accordance with the Paperwork Reduction Act of 1995, this notice 
announces RBS' intention to request an extension of a currently 
approved information collection in support of the Intermediary 
Relending Program (IRP).

DATES: Comments on this notice must be received by October 11, 1996.

FOR FURTHER INFORMATION CONTACT: M. Wayne Stansbery, Loan Specialist, 
Rural Business-Cooperative Service, USDA, Ag. Box 1521, Washington, DC 
20250, Telephone: (202) 720-6819.

SUPPLEMENTARY INFORMATION:

    Title: RBS/Intermediary Relending Program.
    OMB Number: 0575-0130.
    Expiration Date of Approval: January 1997.
    Type of Request: Revision of a currently approved information 
collection.
    Abstract: A proposed rule for a complete revision of the IRP 
regulations (7 CFR 1948, subpart C) was published in the Federal 
Register on January 18, 1995, at 60 FR 3566. The public reporting 
burden for information collection associated with that proposed rule 
was approved by the Office of Management and Budget (OMB) under OMB No. 
0575-0130. After considering the public comments on the proposed rule, 
the Agency now proposes to include some additional changes in the final 
rule that will impact on the public reporting burden. Accordingly, the 
Agency will seek OMB approval for a revision in the public reporting 
burden for information collection associated with the IRP regulations.
    The objective of the IRP is to improve community facilities and 
employment opportunities and increase economic activity in rural areas 
by financing business facilities and community development. This 
purpose is achieved through loans made by RBS to intermediaries that 
establish programs for the purpose of providing loans to ultimate 
recipients for business facilities and community development. The 
regulations contain various requirements for information from the 
intermediaries and some requirements may cause the intermediary to 
require information from ultimate recipients. The information requested 
is vital for RBS to be able to process applications in a responsible 
manner, make prudent credit and program decisions, and effectively 
monitor the intermediaries' activities to protect the Government's 
financial interest and ensure that funds obtained from the Government 
are used appropriately. It includes information to identify the 
intermediary, describe the intermediary's experience and expertise, 
describe how the intermediary will operate its revolving loan fund, 
provide for debt instruments, loan agreements, and security, and other 
material necessary for prudent credit decisions and reasonable program 
monitoring. The changes being proposed include providing operating 
plans for revolving lines of credit. Revolving lines of credit are 
currently not allowed, but consideration is being given to authorizing 
such loans if certain conditions, including having sound operating 
plans and procedures, are met. Another proposed change requires 
additional details in the work plan regarding goals, strategies, 
anticipated outcomes, and technical assistance. The

[[Page 41768]]

increase in burden is offset by eliminating the requirement for 
specific collateral assignments and by providing a new shorter form for 
supplemental loan agreements to be used with subsequent loans. The net 
effect of the changes will be to reduce the total paperwork and record 
keeping burden slightly.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 3.72 hours per response.
    Respondents: Non-profit corporations, public agencies, and 
cooperatives.
    Estimated number of Respondents: 160.
    Estimated number of responses per respondent: 30.35.
    Estimated total annual burden on respondents: 16,930 hours.
    Copies of this information collection can be obtained from Sam 
Spencer, Rural Business Team Information collection Coordinator, at 
(202) 720-9588.
    Comments: Comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the Agency, including whether the information will 
have practical utility; (b) the accuracy of the agency's estimate of 
the burden of the proposed collection of information including the 
validity of the methodology and assumptions used; (c) ways to enhance 
the quality, utility, and clarity of the information to be collected; 
and (d) ways to minimize the burden of the collection of information on 
those who respond, including through the use of appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology. Comments may be sent to Sam 
Spencer, Rural Business Team Information Collection Coordinator, 
Regulations and Paperwork Management Division, U. S. Department of 
Agriculture, Rural Development, STOP 0743, Washington, DC 20250. All 
responses to this notice will be summarized and included in the request 
for OMB approval. All comments will become a matter of public record.

    Dated: August 5, 1996.
 Dayton J. Watkins,-
Administrator, Rural Business-Cooperative Service.--
[FR Doc. 96-20410 Filed 8-9-96; 8:45 am]
BILLING CODE 3410-07-U