[Federal Register Volume 72, Number 30 (Wednesday, February 14, 2007)]
[Notices]
[Pages 7061-7062]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-2572]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5124-N-04]


Financial Standards for Housing Agency-Owned Insurance Entities

AGENCY: Office of the Assistant Secretary for Public and Indian 
Housing, HUD.

ACTION: Notice.

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SUMMARY: The proposed information collection requirement described 
below will be submitted to the Office of Management and Budget (OMB) 
for review, as required by the Paperwork Reduction Act. The Department 
is soliciting public comments on the subject proposal.

DATES: Comments Due Date: April 16, 2007.

ADDRESSES: Interested persons are invited to submit comments regarding 
this proposal. Comments should refer to the proposal by name/or OMB 
Control number and should be sent to: Aneita Waites, Reports Liaison 
Officer, Public and Indian Housing, Department of Housing and Urban 
Development, 451 7th Street, SW., Room 4116, Washington, DC 20410-5000.

FOR FURTHER INFORMATION CONTACT: Aneita Waites, (202) 708-0713, 
extension 4114, for copies of the proposed forms and other available 
documents. (This is not a toll-free number).

SUPPLEMENTARY INFORMATION: The Department will submit the proposed

[[Page 7062]]

information collection to OMB for review, as required by the Paperwork 
Reduction Act of 1995 (44 U.S.C. Chapter 35, as amended). This Notice 
is soliciting comments from members of the public and affected agencies 
concerning the proposed collection of information to: (1) Evaluate 
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; (2) evaluate the accuracy 
of the agency's estimate of the burden of the proposed collection of 
information; (3) enhance the quality, utility, and clarity of the 
information to be collected; and (4) minimize the burden of the 
collection of information on those who are to respond, including 
through the use of appropriate automated collection techniques or other 
forms of information technology, e.g., permitting electronic submission 
of responses.
    This Notice also lists the following information:
    Title of Proposal: Financial Standards for Housing Agency-Owned 
Insurance Entities.
    OMB Control Number: 2577-0186.
    Description of the Need for the Information and Proposed Use: 
Collection of this information is required by the HUD Appropriations 
Act for FY 1992, Public Law 102.139, 105 Stat. 736 (approved October 
28, 1991). The Act provided that public housing agencies (PHAs) could 
purchase insurance coverage without regard to competitive selection 
procedures, if the insurance was purchased from a nonprofit insurance 
entity owned and controlled by PHAs approved by HUD, in accordance with 
standards established by regulation. A PHA-owned insurance entity 
selected by a PHA to provide coverage must submit a certification to 
HUD, stating that the entity management and underwriting staff have 
certain levels of experience. For initial approvals, the entity must 
also submit proper organizational documentation. The nonprofit entity 
must submit copies of audits every year, actuarial reviews every year, 
and management reviews every three years.
    Agency Form Number: N/A.
    Members of Affected Public: Public Housing Agencies.
    Estimation of the Total Number of Hours Needed to Prepare the 
Information Collection Including Number of Respondents: There are 22 
audit respondents annually at eight hours per response. There are 
approximately 22 claims responses over a three-year period, for an 
average of seven responses per year at two hours per response. Average 
response time per respondent is 6.55 hours.
    Status of the Proposed Information Collection: Extension of 
currently approved collection.

    Authority: Section 3506 of the Paperwork Reduction Act of 1995, 
44 U.S.C. Chapter 35, as amended.

    Dated: February 7, 2007.
Bessy Kong,
Deputy Assistant Secretary, Policy, Program and Legislative 
Initiatives.
 [FR Doc. E7-2572 Filed 2-13-07; 8:45 am]
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