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:
1505-0227
ICR Reference No:
202311-1505-003
Status:
Historical Active
Previous ICR Reference No:
202206-1505-005
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:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
02/22/2024
Retrieve Notice of Action (NOA)
Date Received in OIRA:
01/19/2024
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
02/28/2027
36 Months From Approved
07/31/2025
Responses
118,491
0
177,000
Time Burden (Hours)
26,523
0
46,850
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.
Authorizing Statute(s):
PL:
Pub.L. 117 - 2 3301
Name of Law: American Rescue Plan Act of 2021
Citations for New Statutory Requirements:
PL: Pub.L. 117 - 2 3301 Name of Law: American Rescue Plan Act of 2021
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:
87 FR 18474
03/30/2022
30-day Notice:
Federal Register Citation:
Citation Date:
88 FR 86731
12/14/2023
Did the Agency receive public comments on this ICR?
No
Number of Information Collection (IC) in this ICR:
13
IC Title
Form No.
Form Name
Interim Final Rule (demographics-related data elements as applicable to the SSBCI Investing in America SBOP
Interim Final Rule - Demographic Elements in Annual Report
Reporting Guidance - Annual Report
Reporting Guidance - Quarterly Report
SSBCI Application
N/A
SSBCI Application
SSBCI Investing in America SBOP application
TA Reporting Guidance as applicable to the SSBCI Investing in America SBOP Final Project Progress and Outcomes Report
TA Reporting Guidance as applicable to the SSBCI Investing in America SBOP– Annual Report (non-demographic data)
Technical Assistance (TA) Grant Program Annual Report (non-demographic data)
Technical Assistance (TA) Grant Program Application
Technical Assistance (TA) Grant Program Final TA Project Progress and Outcomes Report
Technical Assistance (TA) Grant Program Interim Final Rule (demographics-related data elements in Annual Report)
Technical Assistance (TA) Grant Program Semiannual Reporting on Administrative Costs
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
118,491
177,000
0
47,753
-106,262
0
Annual Time Burden (Hours)
26,523
46,850
0
8,031
-28,358
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 burden is decreasing by 28,358 hours due to an adjustment in estimates based on the number of applications actually received under Capital and TA Grant Programs. In addition, Treasury has incorporated into the burden estimate the time required to complete reporting under the draft TA Grant Program Reporting Guidance for both the TA Grant Program and the SSBCI Investing in America SBOP, which increases the burden by 8,031 hours due to agency discretion.
Annual Cost to Federal Government:
$3,290,332
Does this IC contain surveys, censuses, or employ statistical methods?
No
Does this ICR request any personally identifiable information (see
OMB Circular No. A-130
for an explanation of this term)? Please consult with your agency's privacy program when making this determination.
No
Does this ICR include a form that requires a Privacy Act Statement (see
5 U.S.C. §552a(e)(3)
)? Please consult with your agency's privacy program when making this determination.
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?
Yes
Agency Contact:
Katherine Reilly 202 622-0748 katherine.reilly@treasury.gov
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:
01/19/2024
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