Proposed Renewal of Loan Guaranty, Insurance, and Interest Subsidy; Request for Comments, 67895 [E6-19849]

Agencies

• DEPARTMENT OF THE INTERIOR
• Bureau of Indian Affairs
• Indian Affairs Bureau

[Federal Register Volume 71, Number 226 (Friday, November 24, 2006)]
[Notices]
[Page 67895]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-19849]


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DEPARTMENT OF THE INTERIOR

Bureau of Indian Affairs


Proposed Renewal of Loan Guaranty, Insurance, and Interest 
Subsidy; Request for Comments

AGENCY: Bureau of Indian Affairs, Interior.

ACTION: Notice of Renewal of Information Collection.

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SUMMARY: The Department of the Interior (DOI), Office of Indian Energy 
and Economic Development (OIEED), is seeking comments on the collection 
of information necessary for utilization of the Loan Guaranty, 
Insurance, and Interest Subsidy Program. This is necessary to continue 
the use of forms for this program approved by the Office of Management 
and Budget under the Paperwork Reduction Act of 1995. The public will 
have the opportunity to comment on the time and expense required by 
these forms to access the program.

DATES: Submit comments on or before January 23, 2007.

ADDRESSES: Send comments to David B. Johnson, Acting Chief, Division of 
Capital Investment, Office of Indian Energy and Economic Development, 
Department of the Interior, 1951 Constitution Avenue, NW., Mail Stop 
20-SIB, Washington, DC 20240; or hand deliver them to Room 20 at that 
address. We cannot use e-mail but you may comment by telefacsimile at 
(202) 208-6512.

FOR FURTHER INFORMATION CONTACT: Woodrow Sneed, Financial Analyst, 
Division of Capital Investment, (202) 513-7683.

SUPPLEMENTARY INFORMATION: The Loan Guaranty, Insurance, and Interest 
Subsidy Program (Program) was established in the Act of April 12, 1974, 
as amended, 88 Stat. 79, 25 U.S.C. 1481 et seq. and 25 U.S.C. 1511 et 
seq. The Program has existed since 1974 and the regulations 
implementing it have existed since 1975, with significant revision in 
2001. Until this year, the program has been administered by the Bureau 
of Indian Affairs. It is now administered by the Office of Indian 
Energy and Economic Development in the Office of the Assistant 
Secretary--Indian Affairs in DOI. It is necessary to collect 
information from users of this program in order to determine 
eligibility and credit worthiness of respondents.

Request for Comments

    The DOI requests your comments on this collection concerning:
    (a) The necessity of this information collection for the proper 
performance of the functions of the agency, including whether the 
information will have practical utility;
    (b) the accuracy of the agency's estimate of the burden (hours and 
cost) of the collection of information, including the validity of the 
methodology and assumptions used;
    (c) ways we could enhance the quality, utility and clarity of the 
information to be collected; and
    (d) ways we could minimize the burden of the collection of the 
information on the respondents, such as through the use of automated 
collection techniques or other forms of information technology.
    Please note that an agency may not sponsor or request and an 
individual need not respond to, a collection of information unless it 
has a valid OMB Control Number.
    If you wish to have your name and/or address withheld, you must 
state this prominently at the beginning of your comments. We will honor 
your request according to the requirements of the law. All comments 
from organizations or representatives will be available for review. We 
may withhold comments from review for other reasons.
    OMB Control Number: 1076-0020.
    Type of review: Renewal.
    Title: Loan Guaranty, Insurance, and Interest Subsidy, 25 CFR 103.
    Brief description of collection: The purpose of the Loan Guaranty, 
Insurance, and Interest Subsidy Program, 25 U.S.C. 1481 et seq. and 25 
U.S.C. 1511 et seq., is to encourage private lending to individual 
Indians and organizations of Indians, by providing lenders with loan 
guaranties or loan insurance to reduce their potential risk. Lenders, 
borrowers, and the loan purpose all must qualify under Program terms. 
In addition, the Secretary of the Interior must be satisfied that there 
is a reasonable prospect that the loan will be repaid. DOI collects 
information under the proposed regulations to assure compliance with 
Program requirements.
    There are currently 293 outstanding loans. Based upon historical 
records, DOI anticipates approximately 65 applications for loan 
guaranties each year. DOI will receive approximately 20 additional loan 
insurance applications or notices of loan insurance per year. Of the 
combined 85 applications/notices, DOI expects that it will guarantee or 
insure approximately 62 new loans each year, of which approximately 45 
will receive interest subsidy. We will have about 350 loans outstanding 
by the close of Fiscal Year 2007.
    In all, DOI estimates the total annual Program compliance burden to 
range from approximately 1-2 hours per loan, with the average loan 
causing a burden of approximately 1.50 hours. Most compliance burdens 
fall below this average.
    DOI assumes the average hourly cost per respondent to be $20.00.
    Respondents: Commercial banks.
    Number of Respondents: 350.
    Number of Responses Annually: 1,527.
    Estimated Time per Respondent: 2 hours.
    Frequency of Response: As needed.
    Total Annual Burden to Respondents: 3,014.
    Total Annual Cost to Respondents: $60,280.00.

    Dated: November 3, 2006.
Michael D. Olsen,
Principal Deputy Assistant Secretary--Indian Affairs.
 [FR Doc. E6-19849 Filed 11-22-06; 8:45 am]
BILLING CODE 4310-XN-P