[Federal Register Volume 89, Number 38 (Monday, February 26, 2024)]
[Notices]
[Pages 14151-14152]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-03847]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; State Small Business Credit Initiative

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: The Department of the Treasury will submit the following 
information collection request to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Written comments must be received on or before March 27, 2024 to 
be assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under Review--Open for 
Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION: 
    Title: State Small Business Credit Initiative.
    OMB Control Number: 1505-0227.
    Type of Review: Revision of a currently approved collection.
    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 (SSBCI statute) to fund the SSBCI as a 
response to the economic effects of the COVID-19 pandemic.\i\ SSBCI is 
a Federal program administered by the U.S. Department of the Treasury 
(Treasury) that was created to strengthen the programs of jurisdictions 
(i.e., States, the District of Columbia, Territories, Tribal 
governments) that support private financing for small businesses. SSBCI 
includes the Capital Program, through which Treasury provides funding 
to jurisdictions to expand access to capital for small businesses, and 
the Technical Assistance (TA) Program, through which jurisdictions 
provide legal, accounting, and financial advisory services (TA 
services) to very small and underserved businesses that are applying 
for SSBCI Capital Program funding and other governmental programs that 
support small businesses (eligible beneficiaries). The TA Program 
includes an allocation-formula based TA Grant Program, as well as the 
competitive grant SSBCI Investing in America Small Business Opportunity 
Program (SBOP), which Treasury recently announced via a Notice of 
Funding Opportunity (NOFO). Treasury is updating the burden estimate 
for OMB Control Number 1505-0227 to better account for applications 
received under the SBOP, as well as proposed SBOP reporting 
requirements.\ii\
---------------------------------------------------------------------------

    \i\ 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.
    \ii\ The draft SSBCI Investing in America SBOP application, 
including related templates and other application materials, is 
available on Treasury's website at https://home.treasury.gov/policy-issues/small-business-programs/state-small-business-credit-initiative-ssbci/2021-ssbci/program-materials/application-materials. 
If awarded a grant under the SBOP, Treasury anticipates that SBOP 
recipients will be required to submit progress performance reports 
annually and financial reports via Form SF-425 semi-annually, in 
accordance with 2 CFR 200.328 and 200.329 and the terms and 
conditions of the grant. For progress performance reporting, SBOP 
recipients will be required to track and submit data on Treasury-
specific data elements. Treasury proposes to require reports for the 
SSBCI Investing in America SBOP in substantially the form of the 
reporting guidance used for the formula-based TA Grant Program, 
which may be found on Treasury's website at https://home.treasury.gov/system/files/136/SSBCI-Technical-Assistance-Reporting-Guidance.pdf.
---------------------------------------------------------------------------

    Form: Treasury's portal, various templates.
    Affected Public: State, Territorial and Tribal governments, small 
businesses.
    Estimated Number of Respondents: 100 for application submission; 15 
for reporting.

[[Page 14152]]

    Frequency of Response: For application submission: one time; for 
grant award modifications: on occasion; for reporting: annually and 
semiannually.
    Estimated Total Number of Annual Responses: The current estimate 
for OMB Control Number 1505-0227 is 112,376. Treasury estimates the 
SSBCI Investing in America SBOP will increase this estimate by 6,115 to 
118,491.
    Estimated Time per Response: For the SSBCI Investing in America 
SBOP, depending on the type of collection Treasury estimates that 
responses will take 9 minutes up to 6 hours.
    Estimated Total Annual Burden Hours: The current estimate for OMB 
Control Number 1505-0227 is 24,877. Treasury estimates the SSBCI 
Investing in America SBOP will increase this estimate by 1,530 hours to 
26,407.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2024-03847 Filed 2-23-24; 8:45 am]
BILLING CODE 4810-AK-P