[Federal Register Volume 87, Number 210 (Tuesday, November 1, 2022)]
[Notices]
[Page 65739]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-23702]


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DEPARTMENT OF AGRICULTURE


Submission for OMB Review; Comment Request

    The Department of Agriculture has submitted the following 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Public Law 104-13. Comments 
are requested regarding: whether the collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility; the 
accuracy of the agency's estimate of burden including the validity of 
the methodology and assumptions used; ways to enhance the quality, 
utility and clarity of the information to be collected; and ways to 
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.
    Comments regarding this information collection received by December 
1, 2022 will be considered. Written comments and recommendations for 
the proposed information collection should be submitted within 30 days 
of the publication of this notice on the following website 
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.
    An agency may not conduct or sponsor a collection of information 
unless the collection of information displays a currently valid OMB 
control number and the agency informs potential persons who are to 
respond to the collection of information that such persons are not 
required to respond to the collection of information unless it displays 
a currently valid OMB control number.

Rural Housing Service

    Title: 7 CFR 1951-F, Analyzing Credit Needs and Graduation Review.
    OMB Control Number: 0575-0093.
    Summary of Collection: The Rural Housing Service (RHS or the 
Agency) offers a variety of programs to build and improve housing and 
essential community facilities in rural areas. The Agency offers loans, 
grants, loan guarantees, and supervised credit in the form of Community 
Facility (CF) loans. The CF loan program of RHS is authorized by 
Section 306 of the Consolidated Farm and Rural Development Act (CONACT) 
(7 U.S.C. 1926). The purpose of the CF loan program is to make loans to 
public entities, nonprofit corporations, and Indian tribes for the 
development of essential community facilities for public use in rural 
areas. The notes, security instruments, or loan agreements of most 
borrowers require them to refinance their Agency loans when other 
credit becomes available at reasonable rates and terms for loan 
graduation, otherwise known as loan graduation. Direct loan graduation 
is an integral part of the Agency's lending, as government issued loans 
are not meant to be extended beyond a borrower's need for subsidized 
rates or non-market terms.
    Section 333 of the CONACT (7 U.S.C. 1983), as amended, requires the 
Agency to graduate their direct loan borrowers to other credit when 
they can. Graduation is required because the government loans are not 
to be extended beyond a borrower's need for subsidized rates or 
Government credit. Borrowers must refinance their direct Government 
loan when other credit becomes available at reasonable rates and terms. 
If other credit is not available, the Agencies will continue to 
periodically review the account for possible graduation intervals.
    Need and Use of the Information: The information is collected by 
the Agency which will be used in the Agency's efforts to graduate 
direct loan borrowers to private credit, with or without the Agency 
loan guarantees. The Agency will conduct a thorough review of the 
borrower's financial information to determine whether they are able to 
graduate to other credit. RHS uses this information to evaluate the 
borrower's financial condition for direct loan graduation purposes and 
which assists the Agency with the review of the borrower's financial 
strength and repayment ability. This review will eliminate borrowers 
who are unable to meet the lending criteria and policies of the area 
lenders.
    Description of Respondents: Business or other for-profit.
    Number of Respondents: 437.
    Frequency of Responses: Reporting: Annually.
    Total Burden Hours: 874.

Levi S. Harrell,
Departmental Information Collection Clearance Officer.
[FR Doc. 2022-23702 Filed 10-31-22; 8:45 am]
BILLING CODE 3410-XV-P