[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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