[Federal Register Volume 87, Number 61 (Wednesday, March 30, 2022)]
[Notices]
[Pages 18474-18475]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-06701]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Proposed Collection;
Comment Request; State Small Business Credit Initiative
AGENCY: Departmental Offices, Department of the Treasury.
ACTION: Notice.
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SUMMARY: The Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other federal agencies to comment on the proposed
information collections listed below, in accordance with the Paperwork
Reduction Act of 1995.
DATES: Written comments must be received on or before May 31, 2022.
ADDRESSES: Send comments regarding the burden estimate, or any other
aspect of the information collection, including suggestions for
reducing the burden, by the following method:
Federal E-rulemaking Portal: http://www.regulations.gov.
Follow the instructions for submitting comments. Refer to Docket Number
TREAS-DO-2022-0009 and the specific Office of Management and Budget
(OMB) control number 1505-0227.
FOR FURTHER INFORMATION CONTACT: Jeffrey Stout, State Small Business
Credit Initiative (SSBCI), at (866) 220-9050 or
[email protected]. Further information may be obtained
from the SSBCI website, https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci, or by
contacting [email protected].
SUPPLEMENTARY INFORMATION:
Title: State Small Business Credit Initiative Information
Collection Activities.
OMB Control Number: 1505-0227.
Type of Review: Revision of currently approved information
collection activities.
Description: This information collection captures information
related to the State Small Business Credit Initiative (SSBCI). The
American Rescue Plan Act of 2021 (ARPA) reauthorized and amended the
Small Business Jobs Act of 2010 (SBJA) to provide $10 billion to fund
the SSBCI as a response to the economic effects of the COVID-19
pandemic.\1\ SSBCI is a federal program administered by the U.S.
Department of the Treasury (Treasury) that was created to strengthen
the programs of eligible jurisdictions (i.e., states, the District of
Columbia, territories, Tribal governments) that support private
financing for small businesses.
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\1\ ARPA, Public Law 117-2, sec. 3301, codified at 12 U.S.C.
5701 et seq. SSBCI was originally established in Title III of the
Small Business Jobs Act of 2010.
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Capital Program Application. In order to determine the
eligibility of jurisdictions to receive SSBCI funds for capital
programs, Treasury must collect the following types of information in
an application: Points of contact for the eligible jurisdiction and
those administering the program; how the eligible jurisdiction plans to
use the funds to provide access to capital for businesses in
underserved communities; details on the eligible jurisdiction's
proposed capital programs; how the proposed capital programs comply
with the SSBCI statute, regulations, and guidance; and the eligible
jurisdiction's compliance and oversight capabilities. Treasury will
collect application
[[Page 18475]]
information from eligible jurisdictions through an online portal.
Capital Program Reports. Treasury must collect SSBCI
information in annual and quarterly reports to implement the SSBCI,
determine the participating jurisdiction's compliance with the SSBCI
statute, regulations, and guidance, and evaluate program outcomes. The
quarterly report must include basic information about the participating
jurisdiction's SSBCI-supported programs (e.g., program name and type)
and program-level information on the use of the participating
jurisdiction's SSBCI funds (e.g., total allocated funds expended,
obligated, or transferred). The annual report must include information
about the participating jurisdiction's SSBCI-supported program
providers (e.g., provider name and type), the specific terms of its
SSBCI-supported loans and investments (e.g., loan type, equity security
type), demographics-related data of the businesses that participate in
SSBCI (e.g., gender and veteran status of the business's principal
owners), and the performance of its SSBCI-supported loans and
investments (e.g., SSBCI funds lost due to loan default or loss of
investment). Treasury will collect annual and quarterly reports from
eligible jurisdictions through an online portal.
Technical Assistance (TA) Grant Program Application. In
order to determine the eligibility of jurisdictions to receive SSBCI
funds to carry out TA plans, Treasury must collect the following types
of information in an application: Points of contact for the eligible
jurisdiction and those administering the program; how the eligible
jurisdiction plans to use the funds to provide legal, accounting, and
financial advisory services to very small businesses and business
enterprises owned and controlled by socially and economically
disadvantaged individuals (SEDI-owned businesses); details on the
eligible jurisdiction's proposed TA projects and the associated
budgets; how the proposed TA plan complies with the SSBCI statute,
regulations, and guidance; and the eligible jurisdiction's compliance
and oversight capabilities. Treasury will collect application
information from eligible jurisdictions through an online portal.
TA Grant Program Reports. Treasury must collect financial
and performance reports consistent with 2 CFR 200.328-329 in order for
Treasury to determine compliance with the SSBCI statute, regulations,
and guidance and to evaluate program outcomes. The financial and
performance reports must include information about the participating
jurisdiction's progress in implementing its TA plan and details on its
use of TA funds.
Form: Capital Program Application and Quarterly and Annual Report
forms.
Affected Public: States, the District of Columbia, territories, and
Tribal governments.
Estimated Number of Respondents: 3,000.
Frequency of Response: Annually, Quarterly.
Estimated Total Number of Annual Responses: 177,500.
Estimated Time per Response: 9 minutes up to 5 hours.
Estimated Total Annual Burden Hours: 48,350 hours.
Request for Comments: Comments submitted in response to this notice
will be summarized and included in the request for Office of Management
and Budget approval. All comments will become a matter of public
record. Comments are invited on: (a) Whether the collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information shall have practical
utility; (b) the accuracy of the agency's estimate of the burden of the
collection of information; (c) ways to enhance the quality, utility,
and clarity of the information to be collected; (d) ways to minimize
the burden of the collection of information on respondents, including
through the use of technology; and (e) estimates of capital or start-up
costs and costs of operation, maintenance, and purchase of services
required to provide information.
Authority: 44 U.S.C. 3501 et seq.
Jacob Leibenluft,
Chief Recovery Officer.
[FR Doc. 2022-06701 Filed 3-29-22; 8:45 am]
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