[Federal Register Volume 71, Number 120 (Thursday, June 22, 2006)]
[Notices]
[Pages 35860-35861]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 06-5580]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service

Farm Service Agency


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCIES: Rural Housing Service (RHS), Farm Service Agency (FSA), USDA.

ACTION: Proposed collection; comments requested.

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

DATES: Comments on this notice must be received on or before August 21, 
2006 to be assured consideration.

FOR FURTHER INFORMATION CONTACT: Gary Wheeler, Senior Loan Officer, 
USDA, FSA, Farm Loan Programs, Loan Servicing and Property Management 
Division, 1400 Independence Ave., SW., Washington, DC 20250-0523, 
telephone (202) 690-4021. E-mail: [email protected].

SUPPLEMENTARY INFORMATION:
    Title: 7 CFR, part 1951, subpart F, ``Analyzing Credit Needs and 
Graduation of Borrowers.''
    OMB Number: 0575-0093.

[[Page 35861]]

    Expiration Date of Approval: November 30, 2006.
    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) requires the Agencies to 
``graduate'' their direct loan borrowers to other credit when they are 
able to do so. Graduation is required because the Government loans are 
not to be extended beyond a borrower's need for subsidized rates or 
Government credit. Borrowers must refinance their direct Government 
loan when other credit becomes available at reasonable rates and terms. 
If other credit is not available, the Agencies will continue to review 
the account for possible graduation at periodic intervals. Also, 7 CFR 
part 1951, subpart F, requires FSA to provide a financial prospectus to 
lenders who may be interested in providing credit to FSA direct farm 
loan borrowers with an FSA guarantee and interest assistance. The 
information collected to carry out these statutory mandates is 
financial data such as amount of income, operating expenses, asset 
values and liabilities. This information collection is then submitted 
by the Agencies to private creditors.
    Estimate of Burden: Public reporting for this collection of 
information is estimated to average two hours per response.
    Respondents: Individuals or households, business or other for 
profit and farms.
    Estimated Number of Respondents: 18,383.
    Estimated Number of Responses per Respondent: 1.
    Estimated Number of Responses: 18,383.
    Estimated Total Annual Burden on Respondents: 38,322 hours.
    Copies of this information collection can be obtained from Renita 
Bolden, Regulations and Paperwork Management Branch, at (202) 692-0035.
    Comments: Comments are invited on: (a) Whether the proposed 
collection of information is necessary for the proper performance of 
the functions of the 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 Department of Agriculture 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 Renita Bolden, Regulations and 
Paperwork Management Branch, 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: June 16, 2006.
David Villano,
Acting Administrator, Rural Housing Service.
    Dated: June 14, 2006.
Glen L. Keppy,
Acting Administrator, Farm Service Agency.
[FR Doc. 06-5580 Filed 6-21-06; 8:45 am]
BILLING CODE 3410-XV-P