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Loan Guarantee, Insurance and Interest Subsidy Program – InsuranceNewsNet

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WASHINGTON, March 16The US Department of the Interior Bureau of Indian Affairs asked the Office of Management and Budget to approve a collection of information entitled “Loan guarantee, insurance and interest rate subsidy program”.

A March 16, 2022notice published in the Federal Register by Steven Mulleninformation collection clearance agent, Regulatory Affairs Office and collaborative action–Indian affairs, also opens a new 30-day public comment period. An initial 60-day public comment period has begun September 21, 2021.

ADDITIONAL INFORMATION:

In accordance with the Red Tape Reduction Act of 1995, we provide the general public and other federal agencies with the opportunity to comment on new, proposed, revised, and continuing information collections. This helps us assess the impact of our information collection requirements and minimize the public reporting burden. It also helps the public understand our information collection requirements and provide the requested data in the desired format.

A Federal Register a notice with a 60-day public comment period seeking comments on this information collection has been posted on September 21, 2021 (86 FR 52491). No comments were received.

As part of our ongoing efforts to reduce paperwork and respondent burden, we are again seeking comments from the public and other federal agencies on the proposed KPI that is described below. We are particularly interested in public comments on the following points:

(1) whether or not the collection of information is necessary for the proper performance of the agency’s functions, including whether or not the information will have a practical use;

(2) The accuracy of our estimate of the burden of this information collection, including the validity of the methodology and assumptions used;

(3) Ways to improve the quality, usefulness and clarity of the information to be collected; and

(4) How might the agency minimize the burden of collecting information on those who must respond, including through the use of automated, electronic, mechanical or other appropriate technology collection techniques or other forms of information technology, for example, by enabling response presentations.

The comments you submit in response to this notice are in the public domain. Before you include your address, phone number, email address, or other personally identifying information in your comment, you should know that your entire comment, including your personally identifying information, may be made public at any time. Although you may ask us in your comment to shield your personally-identifying information from public scrutiny, we cannot guarantee that we will be able to do so.

Summary: Submitting this information allows the Indian Economic Development Bureau (IOED) to implement the Loan Guarantee, Insurance and Interest Subsidy Program, 25 USC 1451 and seq., the purpose of which is to encourage private lending to individual Indians and Indian organizations by providing lenders with loan guarantees or loan insurance to reduce their potential risk. The collection of information enables IOED to determine the eligibility and creditworthiness of respondents and loans and to otherwise ensure compliance with program requirements. This collection of information includes the use of several forms.

Series Title: Loan Guarantee, Insurance and Interest Subsidy Program.

OMB control number: 1076-0020.

Form number: LGA10, LIA10, RGI10, ISR10, NOD10, CFL10, ALD10, NIL10 and LGC10.

Revision type: Revision of a currently approved collection.

Respondents/Reached Audience: Lenders, including commercial banks, and borrowers, including individual Indians and Indian organizations.

Estimated total number of annual respondents: 622.

Estimated total number of annual responses: 1,377.

Estimated turnaround time per response: ranging from 0.5 to 2 hours.

Total estimated number of Charging hours: 2654 hours.

Respondent’s obligation: required to obtain or retain a benefit.

Collection frequency: Occasionally.

Total estimated annual non-hourly charging cost: $0.

An agency cannot conduct or sponsor and a person is not required to respond to an information gathering unless they display a currently valid OMB control number.

The authority for this action is the Paperwork Reduction Act of 1995 (44 USC 3501 et seq.).

Steven Mullen,

information collection customs clearance agent, Regulatory Affairs Office and collaborative action–Indian affairs.

[FR Doc. 2022-05566 Filed 3-15-22; 8:45 am]

BILLING CODE 4337-15-P

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Full text: https://www.federalregister.gov/documents/2022/03/16/2022-05566/agency-information-collection-activities-submission-to-the-office-of-management-and-budget-for

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