In accordance with 5 CFR 1320.13, this information collection is pre-approved for 6 months as an emergency clearance to meet new requirements from Community Facility Loan regulation. If the Agency decides to continue use of this collection past the approved emergency clearance time period, it must resubmit an ICR to OMB under the normal PRA clearance process and include responses to any public comments it has received.
Inventory as of this Action
Requested
Previously Approved
12/31/2016
6 Months From Approved
790
0
0
1,462
0
0
0
0
0
Rural Development is amending its Community Facility Loan regulation to enable the Agency to make loans to qualified lenders (hereinafter referred to as âre-lendersâ) who will then in turn re-loan those funds to eligible applicants/borrowers for eligible projects under the Community Facility Loan program. This effort provides a new way to build financing capacity and achieve Administrative and Congressional goals of providing economic benefit in areas of greatest need in rural America. The projects re-lenders finance will improve access to health care, education and other critical services, which will help ensure that rural communities are strong, viable and economically well off.
Without emergency approval to swiftly implement and accept applications for relending, RD will not be able to implement this high priority initiative in Fiscal Year (FY) 2016. Due to the timing of the development of this interim rule and the associated notice of solicitation of application, RD has been unable to implement the relending provision until late in the fiscal year.
US Code:
7 USC 1926
Name of Law: Consilidate Farm and Rural Development Act
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.
7 CFR Part 1942, Subpart A - Business