If the local government has not financially recovered in the three fiscal years after the fiscal year of the disaster, all or part of the loan can be statutorily canceled. Determination of the amount of cancellation is based on the revenue losses as detailed in the official, publically available, financial statements of the jurisdiction and any submitted documentation of unreimbursed disaster-related expenditures.
The Special Community Disaster Loan cancellation process has now been added to this collection. The number of respondents has increased due to the expansion of cancellation availability to these loans.
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.