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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1505-0227
ICR Reference No:
201104-1505-007
Status:
Historical Active
Previous ICR Reference No:
201012-1505-001
Agency/Subagency:
TREAS/DO
Agency Tracking No:
Title:
State Small Business Credit Initiative Allocation Agreement
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
04/26/2011
OIRA Conclusion Action:
Approved without change
Conclusion Date:
04/26/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
04/22/2011
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2011
6 Months From Approved
06/30/2011
Responses
349
349
112
Time Burden (Hours)
1,389
1,389
1,232
Cost Burden (Dollars)
0
0
0
Abstract:
Under the Small Business Jobs Act of 2010 (the "Act"), the Department of the Treasury is responsible for implementing several components of the Act. Among these components is a program under title III of the Act which requires Treasury to make payments to participating states. Participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. The collection of information is necessary to ensure that the allocation agreement constitutes a legal binding obligation of the participating state and to monitor participating state compliance and performance. The recordkeeping requirements ensure both the effective and efficient use of the funds consistent with the agreement.
Emergency Justfication:
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the “Act”). The Act created the State Small Business Credit Initiative (“SSBCI”) to be administered by the Department of the Treasury (“Treasury”) which was funded with $1.5 billion to strengthen state programs that support lending to small businesses, and small manufacturers. The SSBCI is expected to help spur up to $15 billion in lending to small businesses to help address the current economic challenges facing small businesses many of which are at imminent risk for failure. The SSBCI is currently a one-time program created to address the acute need for small business access to credit in the current economy. Applications from the states, territories and the District of Columbia that have indicated their intent to apply are due by June 27, 2011. Applications from municipalities are due September 27, 2011. Treasury plans to obligate the entire $1.5 billion in available funds (less an amount reserved for administrative expenses) to states by or before the end of calendar year 2011. To be effective, it is critical that the revised SSBCI Application and the revised SSBCI allocation agreement with the new collections of information contained therein be made available immediately to applicant states, territories, and municipalities. For the above states reasons, Treasury respectfully requests emergency PRA clearance of the revised SSBCI Application and revised SSBCI Allocation Agreement.
Authorizing Statute(s):
PL: Pub.L. 111 - 240 3 Name of Law: Small Business Jobs Act of 2010
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 240 3 Name of Law: Small Business Jobs Act of 2010
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
Not associated with rulemaking
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
76 FR 20087
04/11/2011
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
3
IC Title
Form No.
Form Name
SSBCI Application, Quarterly Report
null
SSBCI Allocation Agreement Quarterly Reports
null
SSBCI Allocation Agreement Annual Reports
null
ICR Summary of Burden
Total Approved
Previously Approved
Change Due to New Statute
Change Due to Agency Discretion
Change Due to Adjustment in Estimate
Change Due to Potential Violation of the PRA
Annual Number of Responses
349
112
0
237
0
0
Annual Time Burden (Hours)
1,389
1,232
0
157
0
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
Burden increases because of Program Change due to Agency Discretion:
Yes
Burden Increase Due to:
Miscellaneous Actions
Burden decreases because of Program Change due to Agency Discretion:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
After further deliberation, it was determined that the previously submitted requirements did not enable Treasury to collect all information needed to monitor compliance with all statutory requirements and analyze program performance. In addition to this request to amend SSBCI's information collections, Treasury is also submitting a request to make conforming changes to the annual and quarterly reporting requirements set forth in the SSBCI Allocation Agreement.
Annual Cost to Federal Government:
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [PPACA, P.L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]?
Yes
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Agency Contact:
Daniel Ballard 202 674-1781
Common Form ICR:
No
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(a) It is necessary for the proper performance of agency functions;
(b) It avoids unnecessary duplication;
(c) It reduces burden on small entities;
(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;
(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
(f) It indicates the retention periods for recordkeeping requirements;
(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.
(i) It uses effective and efficient statistical survey methodology (if applicable); and
(j) It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
Certification Date:
04/22/2011
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