[Federal Register Volume 82, Number 236 (Monday, December 11, 2017)]
[Notices]
[Pages 58219-58220]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-26668]


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DEPARTMENT OF LABOR


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Analysis of Alternative Strategies for 
Financing Unemployment Insurance (UI) Benefits When Trust Fund Balances 
Are Insufficient

AGENCY: Office of the Assistant Secretary for Policy, Chief Evaluation 
Office, Department of Labor.

ACTION: Notice of Information collection; request for comment.

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SUMMARY: The Department of Labor (DOL), as part of its continuing 
effort to reduce paperwork and respondent burden, conducts a 
preclearance consultation program to provide the general public and 
Federal agencies with an opportunity to comment on proposed and/or 
continuing collections of information in accordance with the Paperwork 
Reduction Act of 1995 (PRA95) [44 U.S.C. 3506(c)(2)(A)]. This program 
helps to ensure that requested data can be provided in the desired 
format, reporting burden (time and financial resources) is minimized, 
collection instruments are clearly understood, and the impact of 
collection requirements on respondents is properly assessed.
    Currently, the Department of Labor is soliciting comments 
concerning the collection of data to support an analysis of alternative 
strategies for UI deficit financing. A copy of the proposed Information 
Collection Request (ICR) can be obtained by contacting the office 
listed below in the addressee section of this notice.

DATES: Written comments must be submitted to the office listed in the 
addressee section below on or before February 9, 2018.

ADDRESSES: You may submit comments by either one of the following 
methods:
    Email: [email protected]; Mail or Courier: Scott 
Gibbons, Chief Evaluation Office, OASP, U.S. Department of Labor, Room 
S-2312, 200 Constitution Avenue NW., Washington, DC 20210. 
Instructions: Please submit one copy of your comments by only one 
method. All submissions received must include the agency name and OMB 
Control Number identified above for this information collection. 
Because we continue to experience delays in receiving mail in the 
Washington, DC area, commenters are strongly encouraged to transmit 
their comments electronically via email or to submit them by mail 
early. Comments, including any personal information provided, become a 
matter of public record. They will also be summarized and/or included 
in the request for OMB approval of the information collection request.

FOR FURTHER INFORMATION CONTACT: Scott Gibbons by email at 
[email protected].

SUPPLEMENTARY INFORMATION: 
    I. Background: Historically, States have financed shortages in 
meeting obligations to pay UI benefits by borrowing from the Federal 
Unemployment Account (FUA) in the Unemployment Trust Fund (UTF) 
maintained by the United States Treasury. Over the last several 
recessionary cycles, an increasing number of States have opted to 
utilize private markets to make up UTF shortfalls, instead of taking 
traditional Federal loans. In this past recession, of the thirty-six 
States that needed to borrow funds to pay UI benefits, eight used 
private sector instruments (i.e., seven States issued bonds and one 
State used short-term bank loans). Numerous considerations must be 
weighed in order to determine which option in financing UTF account 
deficits should be employed under what circumstances to result in an 
optimal outcome. However, there is little research examining or 
comparing the methods available to States for financing UTF account 
deficits, and specifically lacking is comprehensive research that 
analyzes the cost differences between taking Federal loans and using 
alternate sources. As a result, State UTF account administrators are in 
a position where they may need to make rapid decisions based on little 
evidence or understanding of available options.
    DOL is sponsoring an analysis of costs related to UI deficit 
financing, and the planned data collection includes a qualitative 
interviews with Federal and state officials who play roles in the 
deficit financing process, as well as interviews with finance 
professionals and bond underwriters to understand their perspectives. 
This information will be used, along with materials from a literature 
search and environmental scan, to better understand the factors that 
influence state decisions between possible financing methods.
    This Federal Register Notice provides the opportunity to comment on 
proposed data collection instruments that will be used during 
structured interviews to identify factors involved in decisions 
concerning which deficit financing methods are used, as well as 
describing the perceived benefits and potential challenges in their 
use.
    II. Desired Focus of Comments: Currently, DOL is soliciting 
comments concerning the above data collection to support an analysis of 
alternative strategies for UI deficit financing. DOL is particularly 
interested in comments that do the following:
     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.
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used.
     Enhance the quality, utility, and clarity of the 
information to be collected.
     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- for example, 
permitting electronic submission of responses.
    III. Current Actions: At this time, the Department of Labor is 
requesting clearance for structured interviews.
    Type of Review: New information collection request.
    OMB Control Number: 1290-0NEW.
    Affected Public: State, professionals in public finance and public 
bond underwriters.

[[Page 58220]]



                                                              Estimated Total Burden Hours
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                                                                                             Number of    Average burden      Annual           Total
                       Instrument                          Total number    Annual number   Responses per   per response      estimated       estimated
                                                          of respondents  of respondents    respondent        (hours)     burden (hours)  burden (hours)
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State UI Directors......................................               8               3               1               2             5.3              16
State officials/Senior Staff............................               8               3               1               1             2.7               8
Additional State staff..................................              32              11               1               2            21.3              64
Bond market representatives.............................               6               2               1               1             2.0               6
                                                         -----------------------------------------------------------------------------------------------
    Unduplicated Totals.................................              54              19  ..............  ..............            31.3              94
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    Comments submitted in response to this request will be summarized 
and/or included in the request for Office of Management and Budget 
approval of the information collection request; they will also become a 
matter of public record.

    Dated: December 1, 2017.
Molly Irwin,
Chief Evaluation Officer, U.S. Department of Labor.
[FR Doc. 2017-26668 Filed 12-8-17; 8:45 am]
 BILLING CODE 4510-HX-P