[Federal Register Volume 87, Number 19 (Friday, January 28, 2022)]
[Notices]
[Pages 4713-4714]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-01807]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Proposed Collection; 
Comment Request; CARES Act Air Carrier Loan and Payroll Support Program

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments must be received on or before February 28, 2022.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Molly Stasko by emailing [email protected], calling (202) 
622-8922, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:
    Title: CARES Act Air Carrier Loan and Payroll Support Programs.
    OMB Control Number: 1505-0263.
    Type of Review: Extension of a currently approved collection.
    Description: On March 27, 2020, the President signed the 
``Coronavirus Aid, Relief, and Economic Security Act'' or the ``CARES 
Act'' (Pub. L. 116-136), which provides emergency assistance and health 
care response for individuals, families and businesses affected by the 
COVID-19 pandemic, and provides emergency appropriations

[[Page 4714]]

to support executive branch agency operations during the COVID-19 
pandemic. The CARES Act authorized the Secretary of the Treasury to 
make loans, loan guarantees, and other investments that do not exceed 
$500 billion in the aggregate to provide liquidity to eligible 
businesses, States, and municipalities related to losses incurred as a 
result of coronavirus. Section 4003(b)(1)-(3) authorized the Secretary 
to make loans and loan guarantees available to passenger air carriers 
and cargo air carriers, as well as certain related businesses, and 
businesses critical to maintaining national security. Section 4112 
authorized the Secretary to provide payroll support totaling $32 
billion to air carriers and certain contractors (PSP1). While Treasury 
is no longer accepting loan program or PSP1 applications, both programs 
include ongoing compliance reporting and recordkeeping requirements.
    On December 27, 2020, the President signed the Consolidated 
Appropriations Act, 2021 or the ``Appropriations Act,'' which provides 
additional emergency assistance and health care response for 
individuals, families and businesses affected by the COVID-19 pandemic. 
Subtitle A of Title IV of Division N of the Appropriations Act (the PSP 
Extension Law) authorizes the Secretary to provide financial assistance 
totaling $16 billion to passenger air carriers and certain contractors 
(PSP2).
    On March 11, 2021, the President signed the American Rescue Plan 
Act, 2021, which provided additional emergency assistance and economic 
relief in response to the COVID-19 pandemic. Subtitle C of Title VII of 
the American Rescue Plan Act authorizes the Secretary to provide 
financial assistance totaling $15 billion to passenger air carriers and 
certain contractors that received financial assistance under PSP2 
(PSP3).
    As part of the loan, PSP1, PSP2, and PSP3 agreements, applicants 
will need to maintain records for a period of five years or more, 
depending on the agreement type and period of performance, as well as 
submit compliance reports quarterly to ensure funding is used in 
accordance with the agreements and aid statutory reporting 
requirements.
    Form: Applications, Agreements, and associated Forms; Compliance 
Reporting Forms.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 1,300.
    Frequency of Response: Quarterly.
    Estimated Total Number of Annual Responses: 3,400.
    Estimated Time per Response: 4.25 hours.
    Estimated Total Annual Burden Hours: 13,070.
    Authority: 44 U.S.C. 3501 et seq.

    Dated: January 24, 2022.
Molly Stasko,
Treasury PRA Clearance Officer.
[FR Doc. 2022-01807 Filed 1-27-22; 8:45 am]
BILLING CODE 4810-AK-P