[Federal Register Volume 65, Number 72 (Thursday, April 13, 2000)]
[Notices]
[Page 19867]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 00-9174]


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 Notices
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 This section of the FEDERAL REGISTER contains documents other than rules 
 or proposed rules that are applicable to the public. Notices of hearings 
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  Federal Register / Vol. 65, No. 72 / Thursday, April 13, 2000 / 
Notices  

[[Page 19867]]



DEPARTMENT OF AGRICULTURE

Rural Housing Service

Rural Business-Cooperative Service

Rural Utilities Service

Farm Service Agency


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCIES: Rural Housing Service, Rural Business-Cooperative Service, 
Rural Utilities Service, Farm Service Agency, USDA.

ACTION: Proposed collection; comments requested.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the subject Agencies' intention to request an 
extension for a currently approved information collection in support of 
the program for 7 CFR, part 1951, subpart F, ``Analyzing Credit Needs 
and Graduation of Borrowers.''

DATES: Comments on this notice must be received by June 12, 2000, to be 
assured of consideration.

FOR FURTHER INFORMATION CONTACT: Phillip Elder, Senior Loan Officer, 
USDA, FSA, Farm Loan Programs, Loan Servicing Division, 1400 
Independence Ave. SW., Washington, DC 20250-0523, telephone (202) 690-
4012. Electronic mail: [email protected].

SUPPLEMENTARY INFORMATION:
    Title: 7 CFR, Part 1951, Subpart F, ``Analyzing Credit Needs and 
Graduation of Borrowers.
    OMB Number: 0575-0093.
    Expiration Date of Approval: June 30, 2000.
    Type of Request: Extension of a currently approved information 
collection.
    Abstract: Section 333 of the Consolidated Farm and Rural 
Development Act (Con Act) (7 U.S.C. 1983) and Sec. 502 of the Housing 
Act of 1949 (42 U.S.C. 1472) require the Agencies to ``graduate'' their 
direct loan borrowers to other credit when they are able to do so. 
Graduation is required because Government loans are not meant to be 
extended beyond a borrower's need for subsidized rates or government 
credit. The borrower must refinance their direct Government loan when 
other credit becomes available at reasonable rates and terms. If other 
credit is not available the Agency will continue to review the borrower 
for possible graduation at periodic intervals. Also, Sec. 333A(f) of 
the Con Act (7 U.S.C. 1983a (f)) requires the Agency to provide a 
financial prospectus to lenders who may be interested in providing 
credit to Farm Service Agency direct farm loan borrowers with an FSA 
guarantee. The information collected to carry out these statutory 
mandates is financial data such as amount of income, farm operating 
expenses, asset values, and liabilities. This information collection is 
submitted by the Agencies' borrowers to Agency offices and is used in 
the Agencies' efforts to graduate direct borrowers to private credit.
    Estimate of Burden: Public reporting for this collection of 
information is estimated to average 3 hours per response.
    Respondents: Individuals or households, businesses or other for 
profit and farms.
    Estimated Number of Respondents: 17,031.
    Estimated Number of Responses per Respondent: 1.47.
    Estimated Number of Responses: 25,047.
    Estimated Total Annual Burden on Respondents: 75,361 hours.
    Copies of this information collection can be obtained from Barbara 
Williams, Regulations and Paperwork Management Branch, Support Services 
Division at (202) 692-0045.

Comments

    Comments are invited on: (a) Whether the proposed collection of 
information is necessary for the proper performance of the functions of 
the subject Agencies, including whether the information will have 
practical utility; (b) the accuracy of the Agencies' 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 Barbara Williams, Regulations and Paperwork Management Branch, 
Support Services Division, U.S. Department of Agriculture, Rural 
Development, STOP 0742, 1400 Independence Ave. SW, Washington, DC 
20250. All responses to this notice will be summarized and included in 
the request for OMB approval. All comments will also become a matter of 
public record.

    Dated: April 3, 2000.
Jill Long Thompson,
Undersecretary for Rural Development.
August Schumacher, Jr.,
Undersecretary for Farm And Foreign Agricultural Services.
[FR Doc. 00-9174 Filed 4-12-00; 8:45 am]
BILLING CODE 3410-XV-U