[Federal Register Volume 68, Number 111 (Tuesday, June 10, 2003)]
[Notices]
[Pages 34640-34641]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 03-14531]


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DEPARTMENT OF THE INTERIOR

Bureau of Indian Affairs


Proposed Renewal of Loan Guaranty, Insurance, and Interest 
Subsidy, Request for Comments

AGENCY: Bureau of Indian Affairs, Interior.

ACTION: Notice of renewal of information collection.

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SUMMARY: The Bureau of Indian Affairs (BIA) is seeking comments on the 
collection of information necessary for utilization of the Loan 
Guaranty, Insurance, and Interest Subsidy Program. This is necessary to 
continue the use of forms for this program approved by the Office of 
Management and Budget under the Paperwork Reduction Act of 1995. The 
public will have the opportunity to comment on the time and expense 
required by these forms to access the program.

DATES: Submit comments on or before August 11, 2003.

ADDRESSES: Send comments to Ray Brown, Acting Director, Office of 
Economic Development, Bureau of Indian Affairs, Department of the 
Interior, 1849 C St., NW., Mail Stop 2412-MIB, Washington, DC 20240; or 
hand deliver them to Room 2412 at the above address. We cannot use e-
mail but you may comment by telefacsimile at (202) 208-7419.

FOR FURTHER INFORMATION CONTACT: David B. Johnson, Division of Indian 
Affairs, Office of the Solicitor, (202) 208-340.

SUPPLEMENTARY INFORMATION: The Loan Guaranty, Insurance, and Interest 
Subsidy Program (Program) was established in the Act of April 12, 1974, 
as amended, 88 Stat. 79, 25 U.S.C. 1481 et seq. and 25 U.S.C. 1511 et 
seq. The Program has existed since 1974 and the regulations 
implementing it have existed since 1975, with significant revision in 
2001. It is necessary to collect information from users of this program 
in order to determine eligibility and credit worthiness of respondents.
    Request for Comments: The Bureau of Indian Affairs requests your 
comments on this collection concerning:

[[Page 34641]]

    (a) The necessity of this information collection 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 (hours and 
cost) of the collection of information, including the validity of the 
methodology and assumptions used;
    (c) Ways we could enhance the quality, utility and clarity of the 
information to be collected; and
    (d) Ways we could minimize the burden of the collection of the 
information on the respondents, such as through the use of automated 
collection techniques or other forms of information technology.
    Please note that an agency may not sponsor or request, and an 
individual need not respond to, a collection of information unless it 
has a valid OMB Control Number.
    It is our policy to make all comments available to the public for 
review at the location listed in the ADDRESSES section, 9 a.m. to 4 
p.m. EST, Monday through Friday except for legal holidays. If you wish 
to have your name and/or address withheld, you must state this 
prominently at the beginning of your comments. We will honor your 
request according to the requirements of the law. All comments from 
organizations or representatives will be available for review. We may 
withhold comments from review for other reasons.
    OMB Control Number: 1076-0020.
    Type of review: Renewal.
    Title: Loan Guaranty, Insurance, and Interest Subsidy, 25 CFR part 
103.
    Brief Description of Collection: The purpose of the Loan Guaranty, 
Insurance, and Interest Subsidy Program, 25 U.S.C. 1481 et seq. and 25 
U.S.C. 1511 et seq., is to encourage private lending to individual 
Indians and organizations of Indians, by providing lenders with loan 
guaranties or loan insurance to reduce their potential risk. Lenders, 
borrowers, and the loan purpose all must qualify under Program terms. 
In addition, the Secretary of the Interior must be satisfied that there 
is a reasonable prospect that the loan will be repaid. BIA collects 
information under the proposed regulations to assure compliance with 
Program requirements.
    Based upon historical records, BIA anticipates approximately 64 
applications for loan guaranties each year. Although there have never 
been any loan insurance applications, apparent need suggests that BIA 
will receive approximately 20 additional loan insurance applications or 
notices of loan insurance per year. Of the combined 84 applications/
notices, BIA expects that it will guarantee or insure approximately 64 
new loans each year, of which approximately 45 will receive interest 
subsidy.
    In all, BIA estimates the total annual Program compliance burden to 
range from approximately 4 to 12 hours per loan, with the average loan 
causing a burden of approximately 6.18 hours. Most compliance burdens 
fall below this average. BIA assumes the average hourly cost per 
respondent to be $20.00:
    Respondents: Commercial banks.
    Number of Respondents: 84.
    Number of Responses Annually: 852.
    Estimated Time per Respondent: 6 hours.
    Frequency of Response: As needed.
    Total Annual Burden to Respondents: 519.
    Total Annual Cost to Respondents: $10,382.00.

    Dated: May 26, 2003.
Aurene M. Martin,
Assistant Secretary--Indian Affairs.
[FR Doc. 03-14531 Filed 6-9-03; 8:45 am]
BILLING CODE 4310-XN-P