[Federal Register Volume 69, Number 105 (Tuesday, June 1, 2004)]
[Notices]
[Pages 30889-30890]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 04-12203]


=======================================================================
-----------------------------------------------------------------------

EMERGENCY STEEL LOAN GUARANTY BOARD


Proposed Information Collection; Comment Request; Emergency Steel 
Loan Guaranty Board--Guarantee Agreement

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Emergency Steel Loan Guaranty Board (ESLGB), as of its 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on the 
continuing and proposed information collection, as required by the 
Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)).

DATES: Written comments must be submitted on or before August 2, 2004.

ADDRESSES: Direct all written comments to Diana Hynek, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th 
and Constitution Avenue, NW., Washington, DC 20230 (or via the Internet 
at [email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information 
should be directed to the attention of Marguerite Owen, General 
Counsel, ESLGB, (202) 482-0531 or [email protected].

SUPPLEMENTARY INFORMATION 

I. Abstract

    Chapter 1, Public Law 106-51, ``The Emergency Steel Loan Guarantee 
Act of

[[Page 30890]]

1999'' (``Act'') established an Emergency Steel Loan Guarantee Program 
(``Program'') which is designed to provide guaranteed loans to 
qualified steel and iron ore companies by private banking and 
investment institutions. A Board composed of the Chairman of the 
Federal Reserve Board, the Chairman on the Securities and Exchange 
Commission, and the Secretary of the Department of Commerce (``Board'') 
has been given the responsibility to oversee this Program.
    A loan guarantee may be issued upon application to the Board by a 
private banking or investment institution, which proposes to enter into 
an agreement to provide a loan to a qualified steel company. A 
qualified steel company is defined in the Act to mean any company that: 
(A) Is incorporated under the laws of any State; (B) is engaged in the 
production and manufacture of a steel mill product; and (C) has 
experienced layoffs, production losses, or financial losses since 
January 1998. The Act established several conditions applicable to each 
loan guarantee issued by the Board.
    Subsequent to the review of an application by the Board, a 
successful applicant will be required to sign a guarantee agreement as 
a condition of receiving the loan guarantee from the Board. The 
guarantee agreement provides the terms and conditions of the loan 
guarantee, and sets forth the requirements, including reporting and 
record keeping, that the lender must meet for the guarantee to remain 
in force.
    When the program's authorizing legislation was initially enacted, 
the Board's authority to issue guarantees was scheduled to terminate on 
December 31, 2001, and guaranteed loans were required to be repaid by 
December 31, 2005. Public Law 107-63 extended the Board's authority to 
guarantee loans through December 31, 2003 and extended the date by 
which all guaranteed loans must be paid in full to no later than 
December 31, 2015. The authority to issue new loan guarantees, in fact, 
expired on December 31, 2003. As such, the Board had not previously 
requested an extension of Paperwork Reduction Act (PRA) approval for 
its various information collections associated with issuance of new 
guarantees. However, the authority to issue new loan guarantees was 
restored by section 211 of Public Law 108-199, enacted January 23, 
2004. This law extended the Board's authority to issue new loan 
guarantees through December 31, 2005. Thus, the Board needs to 
reinstate, and receive PRA approval for, its previously existing 
information collection.

II. Method of Collection

    The signed final guarantee documents for the individual loan 
guarantees will be submitted in hard copy because they will contain 
privileged financial and commercial information that is protected from 
disclosure under the Freedom of Information Act (FOIA).

III. Data

    OMB Number: 3004-0002.
    Form Number(s): ESLB-1.
    Type of Review: Regular submission.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 2.
    Estimated Time Per Response: 15 to 75 hours.
    Estimated Total Annual Respondent Burden Hours: 150.
    Estimated Annual Cost to the Public: $4,980.

IV. Request for 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 
(including hours and cost) of the proposed collection of information; 
(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 respondents, e.g., the use of automated 
collection techniques or other forms of information technology.
    Comments submitted in response to this notice will be summarized or 
included in the request for OMB approval of this information 
collection; they will also become a matter of public record.

    Dated: May 25, 2004.
Marguerite Owen,
General Counsel, Emergency Steel Loan Guaranty Board.
[FR Doc. 04-12203 Filed 5-28-04; 8:45 am]
BILLING CODE 3510-07-P