[Federal Register Volume 85, Number 246 (Tuesday, December 22, 2020)]
[Notices]
[Pages 83510-83511]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-28213]


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DEPARTMENT OF AGRICULTURE

Rural Housing Service

[Docket No. RHS-20-MFH-0029]


Notice of Request for Extension of a Currently Approved 
Information Collection

AGENCY: Rural Housing Service.

ACTION: Proposed collection; comments requested.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this 
notice announces the Rural Housing Service's intention to request an 
extension for a currently approved information collection in support of 
the program of the Agency's use of Supervised Bank Accounts (SBA).

DATES: Comments on this Notice must be received by February 22, 2021 to 
be assured of consideration.

FOR FURTHER INFORMATION CONTACT:  Barbara Chism, Finance and Loan 
Analyst, Multi-Family Housing Asset Management Division, Policy and 
Budget Branch, STOP 0782-Room 1263S, U.S. Department of Agriculture, 
1400 Independence Avenue SW, Washington, DC 20250-0782. Telephone: 
(202) 690-1436.

SUPPLEMENTARY INFORMATION: The OMB regulation (5 CFR 1320) implementing 
provisions of the Paperwork Reduction Act of 1995 (Pub. L. 104-13) 
requires that interested members of the public and affected agencies 
have an opportunity to comment on information collection and 
recordkeeping activities (see 5 CFR 1320.8(d)). This notice identifies 
an existing information collection that the Agency is submitting to OMB 
for extension. Comments are invited on: (a) 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; (b) 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; (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 the use of appropriate automated, 
electronic, mechanical, or other

[[Page 83511]]

technological collection techniques or other forms of information 
technology. Comments may be sent through the Federal eRulemaking 
Portal: Go to http://www.regulations.gov and, in the ``Search'' box, 
enter the Docket ID No. ``RHS-20-MFH-0029'' to submit or view public 
comments and to view supporting and related materials available 
electronically. Information on using Regulations.gov, including 
instructions for accessing documents, submitting comments, and viewing 
the docket after the close of the comment period, is available through 
the site's ``Help'' button at the top of the page.
    Title: 7 CFR 1902-A, Supervised Bank Accounts.
    OMB Number: 0575-0158.
    Expiration Date of Approval: February 28, 2021.
    Type of Request: Extension of a Currently Approved Information 
Collection.
    Abstract: The Agency extends financial assistance to applicants 
that do not qualify for loans under commercial rates and terms. The 
Agency use SBAs as a mechanism to (1) ensure correct disbursement and 
expenditure of all funds designated for a project; (2) help a borrower 
properly manage its financial affairs; (3) ensure that the Government's 
security is protected adequately from fraud, waste and abuse. SBAs are 
mandatory for Multi-Family Housing (MFH) reserve accounts. The MFH 
funds must be kept in the SBA for the full term of a loan. Any funds 
withdrawn for disbursement for an authorized purpose require a 
countersignature from an Agency official. This regulation prescribes 
the policies and responsibilities for the use of SBAs. In carrying out 
the mission as a supervised credit Agency, this regulation authorizes 
the use of supervised accounts for the disbursement of funds. The use 
may be necessitated to disburse Government funds consistent with the 
various stages of any development (construction) work actually 
achieved. On limited occasions, a supervised account is used to provide 
temporary credit counseling and oversight of those being assisted who 
demonstrate an inability to handle their financial affairs responsibly. 
Another use is for depositing MFH reserve account funds in a manner 
requiring Agency co-signature for withdrawals. MFH reserve account 
funds are held in a reserve account for the future capital improvement 
needs for apartment properties. Supervised accounts are established to 
ensure Government security is adequately protected against fraud, waste 
and abuse. The legislative authority for requiring the use of 
supervised accounts is contained in section 510 of the Housing Act of 
1949, as amended (42 U.S.C. 1480). These provisions authorize the 
Secretary of Agriculture to make such rules and regulations as deemed 
necessary to carry out the responsibilities and duties the Government 
is charged with administering.
    Estimate of Burden: Public reporting burden for this information 
collection is estimated to average .43 hours per response.
    Respondents: Small Business.
    Estimated Average Number of Respondents: 13,500.
    Estimated Total Annual Responses: 54,292.
    Estimated Number of Responses per Respondent: 4.02.
    Estimated Total Number of Man Hours: 23,636.
    Copies of this information collection can be obtained from Lynn 
Gilbert, Rural Development Innovation Center--Regulations Management 
Division, at (202) 690-2682.
    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.

Elizabeth Walker Green,
Acting Administrator, Rural Housing Service.
[FR Doc. 2020-28213 Filed 12-21-20; 8:45 am]
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