Rules and Regulations. 30-Day notice; request for comments
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/register/2022/01/28/2022-01755A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
BILLING CODE 8026-03-P SMALL BUSINESS ADMINISTRATION Reporting and Recordkeeping Requirements Under OMB Review AGENCY: Small Business Administration. ACTION: 30-Day notice; request for comments. SUMMARY: The Small Business Administration will submit the information collection described below to the Office of Management and Budget
(OMB)for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. SBA is publishing this notice to allow all interested members of the public 30 days to provide comments on the collection of information. DATES: Submit comments on or before February 28, 2022. ADDRESSES: Written comments and recommendations for this information collection request should be submitted through “ *www.reginfo.gov/public/do/PRAMain.* ” Find this information collection request by selecting “Small Business Administration”; “Currently Under Review,” then selecting “Only Show ICR for Public Comment.” This information collection can be identified by the title and/or OMB Control Number identified below. FOR FURTHER INFORMATION CONTACT: Adrienne Grierson, Program Manager, at *adrienne.grierson@sba.gov;* 202-205-6573, or Curtis B. Rich, Management Analyst, 202-205-7030; *curtis.rich@sba.gov.* SUPPLEMENTARY INFORMATION: Section 1102 of the Coronavirus Aid, Relief, and Economic Security (CARES) Act, Public Law 116-136, authorized SBA to guarantee loans made by banks or other financial institutions under a new temporary 7(a) program titled the “Paycheck Protection Program” (“PPP”) to small businesses, certain non-profit organizations, veterans' organizations, Tribal business concerns, independent contractors and self-employed individuals adversely impacted by the Coronavirus Disease (COVID-19) Emergency. This authority initially expired on August 8, 2020. The Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), Public Law 116-260, renewed SBA's authority to make PPP loans until March 31, 2021, and added authority for second draw PPP loans under § 7(a)(37) of the Small Business Act. The program authority was further extended until June 30, 2021, by the PPP Extension Act of 2021, Public Law 117-6. This information collection is currently approved for the PPP Loan Program under the emergency procedures authorized by 5 U.S.C. 3507(j) and 5 CFR 1320.13. This approval will expire on January 31, 2022. Although SBA's PPP program authority has expired, this information collection is still needed for the following reasons:
(1)PPP borrowers may apply for forgiveness of their loans up to the date of loan maturity, which may be as late as 2026; and
(2)SBA may review a PPP loan at any time. Therefore, as required by the Paperwork Reduction Act, SBA is publishing this notice as a prerequisite to seeking OMB's approval to ensure this information collection is available for use beyond January 31, 2022. SBA did not receive any comments in response to the notice published at 86 FR 35144 on July 1, 2021. This notice provides another opportunity for the public to submit comments on
(a)whether the collection of information is necessary for the agency to properly perform its functions;
(b)whether the burden estimates are accurate;
(c)whether there are ways to minimize the burden, including the use of automated techniques or other forms of information technology; and
(d)whether there are ways to enhance the quality, utility, and clarity of the information. *Title:* Affiliation Worksheet. *Form Number:* SBA Form 3511. *OMB Control Number:* 3245-0416. *Description of respondents:* Paycheck Protection Program Borrowers and Lenders. *Estimated number of respondents (Borrowers):* 37,500. *Estimated time per response:* 45 minutes. *Estimated number of respondents (Lenders):* 5,000. *Estimated time per response:* 15 minutes. *Total estimated annual responses:* 42,500. *Total Estimated Annual Hour Burden:* 37,500 hours. Curtis B. Rich, Management Analyst. [FR Doc. 2022-01755 Filed 1-27-22; 8:45 am]
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- 5 USC 3507(j)
- 5 CFR 1320.13
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Rules and Regulations
30-Day notice; request for comments
Cite5 USC 3507(j)
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