[Federal Register Volume 85, Number 143 (Friday, July 24, 2020)]
[Notices]
[Pages 44850-44851]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-16041]
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DEPARTMENT OF AGRICULTURE
Submission for OMB Review; Comment Request
July 21, 2020.
The Department of Agriculture has submitted the following
information collection requirement(s) to Office of Management and
Budget (OMB) for review and clearance under the Paperwork Reduction Act
of 1995, Public Law 104-13. Comments are requested regarding: Whether
the collection of information is necessary for the proper performance
of the functions of the agency, including whether the information will
have practical utility; the accuracy of the agency's estimate of burden
including the validity of the methodology and assumptions used; ways to
enhance the quality, utility and clarity of the information to be
collected; ways to minimize the burden of the collection of information
on those who are to respond, including through the use of appropriate
automated, electronic, mechanical, or other technological collection
techniques or other forms of information technology.
Comments regarding this information collection received by August
24, 2020 will be considered. Written comments and recommendations for
the proposed information collection should be submitted within 30 days
of the publication of this notice on the following website
www.reginfo.gov/public/do/PRAMain. Find this particular information
collection by selecting ``Currently under 30-day Review--Open for
Public Comments'' or by using the search function.
An agency may not conduct or sponsor a collection of information
unless the collection of information displays a currently valid OMB
control number and the agency informs potential persons who are to
respond to the collection of information that such persons are not
required to respond to the collection of information unless it displays
a currently valid OMB control number.
Rural Utilities Service
Title: 7 CFR part 1744, subpart B, Lien Accommodations and
Subordination Policy.
OMB Control Number: 0572-0126.
Summary of Collection: The information collected in this
information collection package is received from RUS telecommunications
borrowers. The policy of considering Lien Accommodations will continue
to facilitate funding from non-agency sources in order to meet the
growing capital needs of rural Local Exchange Carriers (LECs).
Depending on the purposes for which a lien accommodation is sought, RUS
will utilize the information to provide an expedited approval for
borrowers that meet the financial tests described in this rule. RUS
believes that borrowers that are financially sound should be afforded
more flexibility with regard to financial arrangements with outside
lenders for the purpose of promoting rural telecommunications. The
tests are designed to ensure that the financial strength of the
borrower is more than sufficient to protect the government's loan
security interests; hence, the lien accommodations will not adversely
affect the government's financial interests.
Need and Use of the Information: In order to facilitate
supplemental financing for telecommunications services projects, RUS
provides fast track lien accommodations to private lenders who propose
to lend to RUS borrowers who meet certain financial strength
evaluations. Depending on the purposes for which a lien accommodation
is sought, RUS will use the information to provide expedited approval
for borrowers that meet the financial tests. The tests are designed to
ensure that the financial strength of the borrower is more than
sufficient to protect the government's loan security interests; hence,
the lien accommodations will not adversely affect the government's
financial interests.
Description of Respondents: Business or other for-profit; Not for-
profit institutions.
Number of Respondents: 1.
Frequency of Responses: Reporting: On occasion.
Total Burden Hours: 1.
Rural Utilities Service
Title: 7 CFR part 1752, Special Servicing of Telecommunication
Programs Loans for Financially Distressed Borrowers.
OMB Control Number: 0572-0153.
Summary of Collection: The Rural Utilities Service (RUS or the
Agency) Telecommunications Program (Program) provides loan funding to
build and expand broadband and telecommunications services into
unserved and underserved rural communities, along with very limited
funding to support the costs to acquire equipment to provide distance
learning and telemedicine service. RUS published a Final rule codifying
a new servicing regulation on February 25, 2020 in the Federal Register
which outlines policies for servicing actions
[[Page 44851]]
associated with distressed borrowers from the Telecommunications
Infrastructure Loan Program, Rural Broadband Program, Distance Learning
and Telemedicine Program, Broadband Initiatives Program, and Rural e-
Connectivity Pilot Program. The purpose of the regulation is to
streamline servicing actions, improve the government's recovery on such
loans, and improve customer service.
Need and Use of the Information: The information collection
addresses RD's expanded authority, with the codification of the
rulemaking, to address servicing actions. RD considers it imperative to
use the expanded authority for servicing actions associated with the
RUS Telecommunications Programs in order to: (1) Maximize risk
management of loan portfolio; (2) reduce duplication of effort between
federal agencies, which may expedite servicing of distressed borrowers;
(3) ensure efficient recovery of debt which may mitigate negative
impact on program subsidy rates; and (4) simplify the servicing process
for the Agency and therefore minimize the financial burden and costs on
borrowers.
The Agency provides forms and/or guidelines to assist in collection
and submission of the information required to service loans. In some
cases, use of Agency forms is optional and the borrower may submit the
information required on other forms. The forms or related items
completed by the borrower are submitted to and evaluated by the Agency.
Failure to collect proper information from borrowers could result in
improper determinations of servicing assistance, hinder the
government's recovery of such loans as well as encumber customer
service.
Description of Respondents: Business or other for-profit; Not for-
profit institutions.
Number of Respondents: 5.
Frequency of Responses: Reporting: On occasion.
Total Burden Hours: 695.
Ruth Brown,
Departmental Information Collection Clearance Officer.
[FR Doc. 2020-16041 Filed 7-23-20; 8:45 am]
BILLING CODE 3410-15-P