[Federal Register Volume 88, Number 236 (Monday, December 11, 2023)]
[Notices]
[Pages 85870-85871]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-27076]


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DEPARTMENT OF COMMERCE

Economic Development Administration


Agency Information Collection Activities; Submission to the 
Office of Management and Budget (OMB) for Review and Approval; Comment 
Request; Revolving Loan Fund Financial Report, Form ED-209

AGENCY: Economic Development Administration, Department of Commerce.

ACTION: Notice of information collection, request for comment.

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SUMMARY: The Department of Commerce, in accordance with the Paperwork 
Reduction Act of 1995 (PRA), invites the general public and other 
Federal agencies to comment on proposed, and continuing information 
collections, which helps us assess the impact of our information 
collection requirements and minimize the public's reporting burden. The 
Economic Development Administration (EDA) proposes to extend Form ED-
209, Revolving Loan Fund (RLF) Financial Report, to continue collecting 
limited performance information from EDA RLF award recipients. The 
purpose of this notice is to allow for 60 days of public comment 
preceding submission of the collection to OMB.

DATES: To ensure consideration, comments regarding this proposed 
information collection must be received on or before February 9, 2024.

ADDRESSES: Interested persons are invited to submit written comments by 
mail to Mitchell Harrison, Program Analyst, Performance and National 
Programs Division, Economic Development Administration, U.S. Department 
of Commerce, via email to [email protected] or [email protected]. 
Please reference OMB Control Number 0610-0095 in the subject line of 
your comments. Do not submit Confidential Business Information or 
otherwise sensitive or protected information.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
specific questions related to collection activities should be directed 
to Mitchell

[[Page 85871]]

Harrison, Program Analyst, Performance and National Programs Division, 
Economic Development Administration, U.S. Department of Commerce, via 
email to [email protected] or by phone, (202) 482-4696.

SUPPLEMENTARY INFORMATION: 

I. Abstract

    Guided by the basic principle that sustainable economic development 
should be locally driven, the Economic Development Administration (EDA) 
works directly with communities and regions to help them build the 
capacity for economic development based on local business conditions 
and needs.
    The EDA Revolving Loan Fund (RLF) Program, authorized under section 
209 of the Public Works and Economic Development Act of 1965, as 
amended (42 U.S.C. 3149), has served as an important pillar of EDA 
investment programs since the establishment of the RLF Program in 1975. 
The purpose of the RLF Program is to provide regions with a flexible 
and continuing source of capital, to be used with other economic 
development tools, for creating and retaining jobs and inducing private 
investment that will contribute to long-term economic stability and 
growth. EDA provides RLF grants to eligible recipients, which include 
State and local governments, Indian Tribes, and non-profit 
organizations, to operate a lending program that offers loans with 
flexible repayment terms, primarily to small businesses in distressed 
communities that are unable to obtain traditional bank financing. These 
loans enable small businesses to expand and lead to new employment 
opportunities that pay competitive wages and benefits.
    A unique feature of the RLF Program is that the federal interest in 
RLF awards does not terminate but may be released by EDA seven years 
after completion of the grant disbursement. EDA RLF regulations 
therefore require RLF recipients to submit to EDA RLF Financial Report, 
Form ED-209, which collects limited performance information for RLF 
awards (13 CFR 307.14(a)). EDA currently requires Form ED-209 to be 
submitted on an annual basis for high-performing RLFs and on a semi-
annual basis for other RLFs.
    Through implementation of the Reinvigorating Lending for the Future 
Act (RLF Act), EDA released its federal interest in a substantial 
portion of the RLF awards that were previously required to submit Form 
ED-209. As a result, the number of respondents required to submit Form 
ED-209 will decrease. Although Form ED-209 is being extended without 
change, and the estimated amount of time required to complete Form ED-
209 remains unchanged at three hours, the estimated annual burden hours 
for Form ED-209 is decreasing because of the decreased number of RLF 
awards and respondents required to complete Form ED-209.

II. Method of Collection

    RLF recipients must complete and submit the information collected 
by Form ED-209 online through a Salesforce application (``RLF Portal'') 
for Revolving Loan Fund (RLF) reporting that is accessible at https://doc-eda.my.site.com/RLF/s/login/.

III. Data

    OMB Control Number: 0610-0095.
    Form Number(s): ED-209.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: EDA RLF recipients: State and local governments, 
Indian Tribes, and non-profit organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Time per Response: 3 hours.
    Estimated Total Annual Burden Hours: 3,000.
    Estimated Total Annual Cost to Public: $173,520 (cost assumes 
application of U.S. Bureau of Labor Statistics first quarter 2020 mean 
hourly employer costs for employee compensation for professional and 
related occupations of $57.84).
    Respondent's Obligation: Mandatory.

IV. Request for Comments

    We are soliciting public comments to permit the Department/Bureau 
to: (a) Evaluate whether the proposed information collection is 
necessary for the proper functions of the Department, including whether 
the information will have practical utility; (b) Evaluate the accuracy 
of our estimate of the time and cost burden for this proposed 
collection, including the validity of the methodology and assumptions 
used; (c) Evaluate ways to enhance the quality, utility, and clarity of 
the information to be collected; and (d) Minimize the reporting burden 
on those who are to respond, including the use of automated collection 
techniques or other forms of information technology.
    Comments that you submit in response to this notice are a matter of 
public record. We will include or summarize each comment in our request 
to OMB to approve this ICR. Before including your address, phone 
number, email address, or other personal identifying information in 
your comment, you should be aware that your entire comment--including 
your personal identifying information--may be made publicly available 
at any time. While you may ask us in your comment to withhold your 
personal identifying information from public review, we cannot 
guarantee that we will be able to do so.

Sheleen Dumas,
Department PRA Clearance Officer, Office of the Under Secretary for 
Economic Affairs, Commerce Department.
[FR Doc. 2023-27076 Filed 12-8-23; 8:45 am]
BILLING CODE 3510-34-P