[Federal Register Volume 72, Number 106 (Monday, June 4, 2007)]
[Notices]
[Page 30914]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-10690]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

May 25, 2007.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
11000, 1750 Pennsylvania Avenue, NW., Washington, DC 20220.
    Dates: Written comments should be received on or before July 5, 
2007 to be assured of consideration.

Federal Consulting Group

    OMB Number: 1505-0196.
    Type of Review: Extension.
    Title: Litigation Management--Information Collection Regarding 
Proposed Settlements.
    Form: TRIP 03.
    Description: Section 103(a) and 104 of the Terrorism Risk Insurance 
Act of 2002 (Pub. L. 107-297) authorize the Department of the Treasury 
to administer and implement the temporary Terrorism Risk Insurance 
Program established by the Act. Section 107 contains specific 
provisions designed to manage litigation arising out of or resulting 
from a certified act of terrorism. The Terrorism Risk Insurance 
Extension Act of 2005, Public Law 109-144, added section 107(a)(6) to 
TRIA, which provides that procedures and requirements established by 
the Secretary under 31 CFR 50.82, as in effect on the date of issuance 
of that section in final form [July 28, 2004], shall apply to any 
Federal cause of action described in section 107(a)(1). Section 50.82 
of the regulations requires insurers to submit to Treasury for advance 
approval certain proposed settlements involving an insured loss, any 
part of the payment of which the insurer intends to submit as part of 
its claim for Federal payment under the Program. The collection of 
information in the notice of proposed settlement in Section 50.83 that 
insurers must submit to implement the settlement approval process 
prescribed by Section 50.82.
    Respondents: Business and other for-profit institutions.
    Estimated Total Reporting Burden: 5,141 hours.
    OMB Number: 1505-0197.
    Type of Review: Extension.
    Title: Recordkeeping Requirements for Insurers Compensated Under 
Terrorism Risk Insurance Program.
    Description: Sections 103(a) and 104 of the Terrorism Risk 
Insurance Act of 2002 (Pub. L. 107-297) (as extended by the Terrorism 
Risk Insurance Extension Act of 2005, Pub. L. 109-144) authorize the 
Department of the Treasury to administer and implement the Terrorism 
Risk Insurance Program established by the Act. In 31 CFR part 50, 
subpart F (Sec. 50.50-50.55) Treasury established requirements and 
procedures for insurers that file claims for payment of the Federal 
share of compensation for insured losses resulting from a certified act 
of terrorism under the Act. Section 50.60 allows Treasury access to 
records of an insurer pertinent to amounts paid as the Federal share of 
compensation for insured losses in order to conduct investigations, 
confirmations and audits. Section 50.61 requires insurers to retain all 
records as are necessary to fully disclose all material matters 
pertaining to insured losses. This collection of information is the 
recordkeeping requirement in Sec.  50.61.
    Respondents: Business and other for-profit institutions.
    Estimated Total Reporting Burden: 833 hours.
    Clearance Officer: Howard Leiken, (202) 622-7139, Department of the 
Treasury, 1425 New York Avenue, NW., Room 2113, Washington, DC 20220.
    OMB Reviewer: Alexander T. Hunt (202) 395-7316, Office of 
Management and Budget, Room 10235, New Executive Office Building, 
Washington, DC 20503.

Robert Dahl,
Treasury PRA Clearance Officer.
[FR Doc. E7-10690 Filed 6-1-07; 8:45 am]
BILLING CODE 4811-37-P