View Information Collection Request (ICR) Package
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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:
1505-0228
ICR Reference No:
201102-1505-002
Status:
Historical Active
Previous ICR Reference No:
201101-1505-005
Agency/Subagency:
TREAS/DO
Agency Tracking No:
Title:
Small Business Lending Fund (SBLF) Application, Lending Plan and Supplemental Report
Type of Information Collection:
Revision of a currently approved collection
Common Form ICR:
No
Type of Review Request:
Emergency
Approval Requested By:
02/16/2011
OIRA Conclusion Action:
Approved with change
Conclusion Date:
02/28/2011
Retrieve Notice of Action (NOA)
Date Received in OIRA:
02/15/2011
Terms of Clearance:
Modifications made to reduce length of report, streamline data requirements, and modify instructions.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
08/31/2011
6 Months From Approved
08/31/2011
Responses
6,750
0
2,750
Time Burden (Hours)
70,608
0
42,608
Cost Burden (Dollars)
0
0
0
Abstract:
The Application is used by Treasury to establish the banks eligibility to participate in the SBLF program. The legislation requires that the bank have assets less than $10 billion and not be on the Troubled Banks list. The Lending Plan is used by Treasury to decide whether to purchase the banks stock. In addition, this data is used to set the initial dividend that the bank will pay Treasury, as the legislation links the dividend rate to the expected increase in small business lending contained in the plan. The legislation also requires the bank to describe how they will outreach to veteran, minority and women-owned small businesses. The Supplemental Report is used by Treasury to set the dividend rate paid by the bank. Increases or decreases in the dividend rate is the primary incentive/penalty of the program to encourage small business lending. If a bank increases small business lending by 10%, it could see its dividend rates drop to 1 percent. Failure to increase small business lending could cause a banks dividend rate increase to 7 percent. When supplied, the voluntary State Regulators Views form is used by Treasury to inform the decision of the Investment Committee regarding the institutions application for SBLF funds. The form provides the state regulators assessment of the applicants financial condition, their likelihood of repayment, and any supervisory findings that might influence the Investment Committees decision.
Emergency Justfication:
The Department of the Treasury (Treasury) requests emergency processing and approval of the collection of information related to the Small Business Lending Fund (SBLF), which was created when the President signed into law the Small Business Jobs Act of 2010 (P.L. 111-240) on September 27, 2010. SBLF will provide up to $30 billion in needed capital to community banks in order to increase lending to Americas small businesses. The collection of information is needed to certify that the banks that ultimately receive funding are indeed eligible institutions as defined by the legislation and that their plans to increase lending to small businesses meet the legislations intent. Treasury cannot reasonably comply with the normal clearance procedures under 5 C.F.R. Part 1320 because of the necessity to provide this economic catalyst as soon as possible.
Authorizing Statute(s):
PL:
Pub.L. 111 - 240 xxx
Name of Law: Small Business Jobs Act of 2010
Citations for New Statutory Requirements:
PL: Pub.L. 111 - 240 XXX 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
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
4
IC Title
Form No.
Form Name
Application
Lending Plan
State Regulator's Views Form
Supplemental Report
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
6,750
2,750
0
4,000
0
0
Annual Time Burden (Hours)
70,608
42,608
0
28,000
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:
No
Burden Reduction Due to:
Short Statement:
The new burden captures the requirements of the supplemental report. The burden reported here reflects the burden associated with the first year of participation, which will diminish in subsequent years.
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 [Pub. L. 111-148 & 111-152]?
No
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
No
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Is this ICR related to the Pandemic Response?
Uncollected
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:
02/15/2011
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