[Federal Register Volume 62, Number 68 (Wednesday, April 9, 1997)]
[Notices]
[Page 17144]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-8994]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service
Rural Business-Cooperative Service
Rural Utilities Service
Farm Service Agency


Notice of Request for Information Collection

AGENCY: The Rural Housing Service, Rural Business-Cooperative Service, 
Rural Utilities Service and Farm Service Agency, USDA.

ACTION: Proposed collection; comments request.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the Rural Housing Service's (RHS) intention to 
reinstate the information collection procedures in support of the 
Multi-Family Housing Supervised Bank Account regulatory requirements.

DATES: Comments on this notice must be received on or before [insert 
date 60 days after date of publication in the Federal Register] to be 
assured of consideration.

FOR FURTHER INFORMATION CONTACT: James E. Vollmer, Senior Loan 
Specialist, Multi-Family Housing Portfolio Management Division, RHS, 
Stop 0782, U.S. Department of Agriculture, 1400 Independence Avenue SW, 
Washington, DC 20250-0782, Telephone (202) 720-1060.

SUPPLEMENTARY INFORMATION:

    Title: 1902-A, Supervised Bank Accounts.
    OMB Number: 0575-0158.
    Type of Request: Reinstate information collection.
    Abstract: The Rural Housing Service (RHS) is a credit agency for 
Rural Development. The RHS is an Agency of the U.S. Department of 
Agriculture (USDA). As a creditor of last resort the Agency extends 
financial assistance in support of housing for rural residents.
    This regulation prescribes the policies and responsibilities for 
the use of supervised accounts. In carrying out its mission as a 
supervised credit Agency, this regulation authorizes the use of 
supervised accounts for the disbursement of funds. The use may be 
necessitated to disburse Government funds consistent with the various 
stages of any development (construction) work actually achieved. On 
limited occasions a supervised account is used to provide temporary 
credit counseling and oversight to those being assisted who demonstrate 
an inability to handle their financial affairs responsibly. Another use 
is for depositing multi-housing reserve account funds in a manner 
requiring Agency co-signature for withdrawals. Multi-housing reserve 
account funds are held in a sinking fund for the future capital 
improvements needs for apartment projects. Supervised accounts are 
established to ensure Government security is adequately protected 
against fraud, waste, and abuse.
    The legislative authority for requiring the use of supervised 
accounts is contained in Section 339 of the Consolidated Farm and Rural 
Development Act (CON ACT), as amended (7 U.S.C. 1989), and Section 510 
of the Housing Act of 1949 (Housing Act), as amended (42 U.S.C. 1480). 
These provisions authorize the Secretary of Agriculture to make such 
rules and regulations as deemed necessary to carry out the 
responsibilities and duties the Government is charged with 
administering.
    Estimate of Burden: Public reporting burden for this collection of 
information is estimated to average 0.42 hours per response.
    Respondents: The primary respondents are small business 
organizations.
    Estimated Number of Responses Per Respondent: 2.48.
    Estimated Total Annual Burden on Respondents: 26,260 hours.
    Copies of this information collection can be obtained from Johnnie 
Anderson, Regulations and Paperwork Management Division, at (202) 720-
9735.

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 are 
to 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 Johnnie 
Anderson, Regulations and Paperwork Management Division, Stop 0743, 
U.S. Department of Agriculture, 1400 Independence Avenue SW, 
Washington, DC 20250-0743. All responses to this notice will be 
summarized and included in any request for OMB approval. All comments 
will also become a matter of public record.

    Dated: March 12, 1997.
Jan E. Shadburn,
Acting Administrator, Rural Housing Service.

Dayton J. Watkins,
Administrator, Rural Business-Cooperative Service.
    Dated: March 24, 1997.
Wally B. Beyer,

Administrator, Rural Utilities Service.
    Dated: March 27, 1997.
Grant Buntrock,

Administrator, Farm Service Agency.

[FR Doc. 97-8994 Filed 4-8-97; 8:45 am]
BILLING CODE 3410-XV-U