[Federal Register Volume 82, Number 211 (Thursday, November 2, 2017)]
[Notices]
[Page 50858]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-23818]


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DEPARTMENT OF COMMERCE


Submission for OMB Review; Comment Request

    The Department of Commerce (DOC) will submit to the Office of 
Management and Budget (OMB) for clearance the following proposal for 
collection of information under the provisions of the Paperwork 
Reduction Act (44 U.S.C. 3501 et seq.).
    Agency: Economic Development Administration (EDA or Agency).
    Title: Revolving Loan Fund Reporting and Compliance Requirements.
    OMB Control Number: 0610-0095.
    Form Number(s): ED-209 and ED-209I.
    Type of Review: Regular submission (extension of a currently 
approved information collection).
    Number of Respondents: 1,328.
    Average Hours per Response: ED-209, 3 hours; ED-209I, 1 hour.
    Burden Hours: 3,796 hours.
    Needs and Uses: The EDA Revolving Loan Fund (RLF) Program, 
authorized under section 209 of the Public Works and Economic 
Development Act of 1965, as amended (42 U.S.C. 3149), has been part of 
EDA investment programs since the establishment of the RLF Program in 
1975. The purpose of the RLF Program is to provide regions with a 
flexible and continuing source of capital, to be used with other 
economic development tools, for creating and retaining jobs and 
inducing private investment that will contribute to long-term economic 
stability and growth. EDA provides RLF grants to eligible recipients, 
which include State and local governments, Indian tribes, and non-
profit organizations, to operate a lending program that offers loans 
with flexible repayment terms, primarily to small businesses in 
distressed communities that are unable to obtain traditional bank 
financing. These loans enable small businesses to expand and lead to 
new employment opportunities that pay competitive wages and benefits.
    A unique feature of the RLF Program is that, by law, EDA must 
exercise fiduciary responsibility over its RLF portfolio in perpetuity. 
EDA RLF regulations therefore require RLF recipients to submit Form ED-
209, Revolving Loan Fund Financial Report, every six months for each 
RLF they operate (13 CFR 307.14(a)). In addition, RLF recipients must 
submit Form ED-209I, RLF Income and Expense Statement, every six months 
if either of the following conditions apply to their RLF: 
Administrative expenses for the reporting period exceeded $100,000, or 
RLF administrative expenses for the reporting period exceeded 50 
percent of RLF income earned during the reporting period (13 CFR 
307.14(c)). EDA requires that both of these reports be completed using 
an authorized and EDA-provided fillable PDF (Portable Document Format) 
Form.
    Affected Public: EDA RLF recipients: State, local and tribal 
governments; community organizations; not-for-profit organizations.
    Frequency: ED-209, Semiannual; ED-209I, on occasion, as explained 
above.
    Respondent's Obligation: Mandatory.
    This information collection request may be viewed at reginfo.gov. 
Follow the instructions to view DOC collections currently under review 
by OMB.
    Written comments and recommendations for the proposed information 
collection should be sent within 30 days of publication of this notice 
to [email protected] or faxed to (202) 395-5806.

Sheleen Dumas,
Departmental PRA Lead, Office of the Chief Information Officer.
[FR Doc. 2017-23818 Filed 11-1-17; 8:45 am]
BILLING CODE 3510-24-P