View Information Collection Request (ICR) Package

OMB Control No: 1505-0227	ICR Reference No: 201202-1505-003
Status: Historical Active	Previous ICR Reference No: 201201-1505-001
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: State Small Business Credit Initiative Allocation Agreement
Type of Information Collection: No material or nonsubstantive change to a currently approved collection	Common Form ICR: No
Type of Review Request: Emergency	Approval Requested By: 01/12/2012
OIRA Conclusion Action: Approved with change	Conclusion Date: 03/01/2012
Retrieve Notice of Action (NOA)	Date Received in OIRA: 02/15/2012
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	07/31/2012	07/31/2012	07/31/2012
Responses	676	0	612
Time Burden (Hours)	1,390	0	1,064
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 were due by June 27, 2011; applications from municipalities were due September 27, 2011. More than 58 eligible applicants applied for allocations. As noted in the PRA Justification memo, this request comprises a reinstatement of two prior approved collections as well as two new collections. The need for each of these collections is to immediately increase the effectiveness of funds already disbursed (and in the case of the Municipal Allocation Agreement, to effectuate the approval of funds to five applicants whose submitted applications presented specific changes to the standard agreement). The need for each of these collections are driven by the needs of participating states to be able to quickly adapt to economic changes and to enhance program performance, thus meeting the program objective of rapidly using these funds to promote small business lending, as noted above. Further, Section 3003(c)(4) of the Act subjects all participating states to potential rescission of allocated amounts if all funds are not deployed within two years of the initial allocation. It is therefore 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: None

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

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	676	612	64
Annual Time Burden (Hours)	1,390	1,064	326
Annual Cost Burden (Dollars)	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 reflects elements of the compliance standards guidance not explicitly defined in the original clearance.

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]? Yes

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

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