Information is used to determine applicant's eligibility for a direct loan; ensure cash flow projections are based on actual production history; ensure that loan is adequately secured; and obtain assignments on income or sales proceeds to ensure timely repayment of the loan.
The agency is publishing a final rule to consolidate several CFR subparts and to move FLP regulations from 7 CFR Chapter XVIII to 7 CFR Chapter VII. Therefore, the agency is requesting that a new OMB Control Number be assigned to this information collection, which includes collections applicable to FLP currently approved under control numbers 0575-0087, 0575-0088, 0575-0147, 0560-0154, 0560-0159, 0560-0162, 0560-0166, 0560-0167, and 0560-0178. Though the bulk of the burden associated with the new request is a transfer from other collections, this collection contains an increase of 19,167 hours as a result of new provision or incorporation of previously unapproved collections in this request and an increase of 27,457 hours as a result of adjustments to the burden estimates.
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:
(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;
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.