[Federal Register: November 24, 2006 (Volume 71, Number 226)]
[Notices]
[Page 67895]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr24no06-96]
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DEPARTMENT OF THE INTERIOR
Bureau of Indian Affairs
Proposed Renewal of Loan Guaranty, Insurance, and Interest
Subsidy; Request for Comments
AGENCY: Bureau of Indian Affairs, Interior.
ACTION: Notice of Renewal of Information Collection.
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SUMMARY: The Department of the Interior (DOI), Office of Indian Energy
and Economic Development (OIEED), is seeking comments on the collection
of information necessary for utilization of the Loan Guaranty,
Insurance, and Interest Subsidy Program. This is necessary to continue
the use of forms for this program approved by the Office of Management
and Budget under the Paperwork Reduction Act of 1995. The public will
have the opportunity to comment on the time and expense required by
these forms to access the program.
DATES: Submit comments on or before January 23, 2007.
ADDRESSES: Send comments to David B. Johnson, Acting Chief, Division of
Capital Investment, Office of Indian Energy and Economic Development,
Department of the Interior, 1951 Constitution Avenue, NW., Mail Stop
20-SIB, Washington, DC 20240; or hand deliver them to Room 20 at that
address. We cannot use e-mail but you may comment by telefacsimile at
(202) 208-6512.
FOR FURTHER INFORMATION CONTACT: Woodrow Sneed, Financial Analyst,
Division of Capital Investment, (202) 513-7683.
SUPPLEMENTARY INFORMATION: The Loan Guaranty, Insurance, and Interest
Subsidy Program (Program) was established in the Act of April 12, 1974,
as amended, 88 Stat. 79, 25 U.S.C. 1481 et seq. and 25 U.S.C. 1511 et
seq. The Program has existed since 1974 and the regulations
implementing it have existed since 1975, with significant revision in
2001. Until this year, the program has been administered by the Bureau
of Indian Affairs. It is now administered by the Office of Indian
Energy and Economic Development in the Office of the Assistant
Secretary--Indian Affairs in DOI. It is necessary to collect
information from users of this program in order to determine
eligibility and credit worthiness of respondents.
Request for Comments
The DOI requests your comments on this collection concerning:
(a) The necessity of this information collection for the proper
performance of the functions of the agency, including whether the
information will have practical utility;
(b) the accuracy of the agency's estimate of the burden (hours and
cost) of the collection of information, including the validity of the
methodology and assumptions used;
(c) ways we could enhance the quality, utility and clarity of the
information to be collected; and
(d) ways we could minimize the burden of the collection of the
information on the respondents, such as through the use of automated
collection techniques or other forms of information technology.
Please note that an agency may not sponsor or request and an
individual need not respond to, a collection of information unless it
has a valid OMB Control Number.
If you wish to have your name and/or address withheld, you must
state this prominently at the beginning of your comments. We will honor
your request according to the requirements of the law. All comments
from organizations or representatives will be available for review. We
may withhold comments from review for other reasons.
OMB Control Number: 1076-0020.
Type of review: Renewal.
Title: Loan Guaranty, Insurance, and Interest Subsidy, 25 CFR 103.
Brief description of collection: The purpose of the Loan Guaranty,
Insurance, and Interest Subsidy Program, 25 U.S.C. 1481 et seq. and 25
U.S.C. 1511 et seq., is to encourage private lending to individual
Indians and organizations of Indians, by providing lenders with loan
guaranties or loan insurance to reduce their potential risk. Lenders,
borrowers, and the loan purpose all must qualify under Program terms.
In addition, the Secretary of the Interior must be satisfied that there
is a reasonable prospect that the loan will be repaid. DOI collects
information under the proposed regulations to assure compliance with
Program requirements.
There are currently 293 outstanding loans. Based upon historical
records, DOI anticipates approximately 65 applications for loan
guaranties each year. DOI will receive approximately 20 additional loan
insurance applications or notices of loan insurance per year. Of the
combined 85 applications/notices, DOI expects that it will guarantee or
insure approximately 62 new loans each year, of which approximately 45
will receive interest subsidy. We will have about 350 loans outstanding
by the close of Fiscal Year 2007.
In all, DOI estimates the total annual Program compliance burden to
range from approximately 1-2 hours per loan, with the average loan
causing a burden of approximately 1.50 hours. Most compliance burdens
fall below this average.
DOI assumes the average hourly cost per respondent to be $20.00.
Respondents: Commercial banks.
Number of Respondents: 350.
Number of Responses Annually: 1,527.
Estimated Time per Respondent: 2 hours.
Frequency of Response: As needed.
Total Annual Burden to Respondents: 3,014.
Total Annual Cost to Respondents: $60,280.00.
Dated: November 3, 2006.
Michael D. Olsen,
Principal Deputy Assistant Secretary--Indian Affairs.
[FR Doc. E6-19849 Filed 11-22-06; 8:45 am]
BILLING CODE 4310-XN-P