[Federal Register Volume 88, Number 31 (Wednesday, February 15, 2023)]
[Notices]
[Pages 9855-9856]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-03211]


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DEPARTMENT OF AGRICULTURE

Farm Service Agency

[Docket ID FSA-2023-0002]


Information Collection Request; Inventory Property Management

AGENCY: Farm Service Agency, USDA.

ACTION: Notice; request for comment.

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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, the 
Farm Service Agency (FSA) is requesting comments from all interested 
individuals and organizations on an extension with a revision of a 
current information collection request for Inventory Property 
Management. For Inventory Property Management, the collected 
information is used to evaluate applicant requests to purchase 
inventory property, determine eligibility to lease or purchase 
inventory property,

[[Page 9856]]

and ensure the payment of the lease amount or purchase amount 
associated with the acquisition of inventory property.

DATES: We will consider comments that we receive by April 17, 2023.

ADDRESSES: We invite you to submit comments on the notice. You may 
submit comments by any of the following methods:
     Federal eRulemaking Portal: Go to http://regulations.gov 
and search for docket ID FSA-2023-0002. Follow the online instructions 
for submitting comments.
     Mail: Lee Nault, Loan Servicing and Properties Management 
Division, USDA, FSA, Farm Loan Programs, 1400 Independence Ave. SW, 
Mail Stop 0523, Washington, DC 20250-00523.
    Comments will be available for inspection online at http://www.regulations.gov. Copies of the information collection may be 
requested by contacting Lee Nault (see FOR FURTHER INFORMATION CONTACT 
below). You may also send comments to the Desk Officer for Agriculture, 
Office of Information and Regulatory Affairs, Office of Management and 
Budget, Washington, DC 20503.

FOR FURTHER INFORMATION CONTACT: Lee Nault, (202) 720-6834; email: 
[email protected]. Persons with disabilities who require alternative 
means for communication should contact the USDA Target Center at (202) 
720-2600 (voice).

SUPPLEMENTARY INFORMATION: 

Description of Information Collection Request

    Title: Inventory Property Management.
    OMB Number: 0560-0234.
    Expiration Date of Approval: 06/30/2023.
    Type of Request: Revision.
    Abstract: FSA's Farm Loan Programs provide supervised credit in the 
form of loans to family farmers to purchase real estate and equipment 
and finance agricultural production. Inventory Property Management, as 
specified in 7 CFR part 767, provides the requirements for the 
management, lease, and sale of security property acquired by FSA. FSA 
may take title to real estate as part of dealing with a problem loan 
either by entering a winning bid to protect its interest at a 
foreclosure sale, or by accepting a deed of conveyance in lieu of 
foreclosure. Information collections established in the regulation are 
necessary for FSA to determine an applicant's eligibility to lease or 
purchase inventory property and to ensure the applicant's ability to 
make payment on the lease or purchase amount.
    The number of responses and burden hours decreased by 79 and 46, 
respectively. While the overall number of inventory properties on hand 
increased 4.76% from the last collection, the decrease in responses and 
burden hours is due to a reduction in the estimated number of inventory 
properties that will be sold annually. The number projected to be sold 
has been revised downward due to the current suspension of foreclosures 
for direct FLP loans and anticipated significantly decreased rate at 
which new properties are acquired by FSA. Additionally, sales are 
managed in order to not flood the market and usage of forms should stay 
consistent.
    For the following estimated total annual burden on respondents, the 
formula used to calculate the total burden hour is the estimated 
average time per responses hours multiplied by the estimated total 
annual responses.
    Estimate of Average Time to Respond: Public reporting burden for 
this collection of information is estimated to average 0.56 hours per 
response.
    Type of Respondents: Individuals or households, business, or other 
for-profit farms.
    Estimated Annual Number of Respondents: 160.
    Estimated Number of Responses per Respondent: 1.
    Estimated Total Annual Responses: 160.
    Estimated Average Time per Responses: 0.56 hours.
    Estimated Total Annual Burden on Respondents: 90 hours.
    We are requesting comments on all aspects of this information 
collection to help us to:
    (1) Evaluate whether the collection of information is necessary for 
the proper performance of the functions of FSA, including whether the 
information will have practical utility;
    (2) Evaluate the accuracy of FSA's estimate of burden including the 
validity of the methodology and assumptions used;
    (3) Enhance the quality, utility, and clarity of the information to 
be collected;
    (4) 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.
    All responses to this notice, including names and addresses when 
provided, will be summarized and included in the request for OMB 
approval. All comments will also become a matter of public record.

Zach Ducheneaux,
Administrator, Farm Service Agency.
[FR Doc. 2023-03211 Filed 2-14-23; 8:45 am]
BILLING CODE 3411-25-P