Data Collection Available for Public Comments, 15242-15243 [2020-05448]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 85, Number 52 (Tuesday, March 17, 2020)]
[Notices]
[Pages 15242-15243]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05448]


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SMALL BUSINESS ADMINISTRATION


Data Collection Available for Public Comments

ACTION: 60-Day notice and request for comments.

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SUMMARY: The Small Business Administration (SBA) intends to request 
approval from the Office of Management and Budget (OMB) for the 
collection of information described below. The Paperwork Reduction Act 
(PRA) requires federal agencies to publish a notice in the Federal 
Register concerning each proposed collection of information before 
submission to OMB, and to allow 60 days for public comment in response 
to the notice.

DATES: Submit comments on or before May 18, 2020.

ADDRESSES: Send all comments to Mary Frias, Loan Specialist, Office of 
Financial Assistance, Small Business Administration, 409 3rd Street SW, 
8th Floor, Washington, DC 20416.

FOR FURTHER INFORMATION CONTACT: Mary Frias, Loan Specialist, Office of 
Financial Assistance, 202-401-8234, [email protected], or Curtis B. 
Rich, Management Analyst, 202-205-7030, [email protected].

SUPPLEMENTARY INFORMATION: SBA Loan Program Requirements, including 13 
CFR Section 120.830, require Certified Development Companies 
participating in the SBA 504 Loan Program to complete and submit an 
annual report that contains financial statements, and operational and 
management information. This reporting requirement is currently 
approved under OMB Control Number 3245-0074 and consists of SBA Form 
1253, Certified Development Company (CDC) Annual Report Guide and an 
exhibit. The Annual Report Guide outlines the standards for meeting a 
CDC's annual reporting requirements, while the exhibit serves as a 
template for the preferred method for a CDC to report data on job 
creation and retention. The information collected is used by SBA 
District Offices, the Office of Credit Risk Management, and the Office 
of Financial Assistance, 504 Program Branch, to determine a CDC's 
financial condition, its compliance with SBA Loan Program Requirements, 
and the impact of its assistance to small businesses.
    SBA is revising the information collection to among other things, 
address recent rule changes and technological improvements, and to 
clarify and streamline the information to be submitted.

Summary of Changes to OMB Control Number 3245-0074

    1. In lieu of outlining the reporting requirements in SBA Form 
1253, SBA is proposing to eliminate the form and incorporate the 
requirements into SBA Standard Operating Procedures (SOP) 50 10, Lender 
and Development Company Loan Programs, as an Appendix. This change will 
allow CDCs to locate the information collection in the same document 
that they refer to for guidance on SBA Loan Program Requirements, which 
will facilitate their preparation of the annual report.
    2. The information collection will also be revised to conform to 
the changes made by the Streamlining and Modernizing Certified 
Development Company Program (504 Loan Program) Corporate Governance 
Requirements final rule published at 84 FR 66287 on December 4, 2019. 
These changes include:
    (a) Incorporating the option that allows a Multi-State CDC to add 
two additional members to its Board or Loan Committee (if established 
in the CDC's State of incorporation) as an alternative to creating a 
separate Loan Committee in the State into which it has expanded.
    (b) Revising the instruction to make it clear that CDCs are no 
longer required

[[Page 15243]]

to submit a copy of their contracts with the Annual Report if a copy of 
the current and executed contract was previously submitted to SBA and 
the CDC so certifies. In addition, the information collection will be 
changed to no longer require the CDC to provide a copy of any other 
contract-related documents that SBA already has in its possession.
    (c) Revising the collection to reflect that a CDC may contract with 
another CDC to perform the independent loan review (with SBA's prior 
written approval);
    (d) Revising the collection to reflect the increase in the 
threshold for requiring a CDC to submit an audited financial statement 
from $20 million in outstanding 504 loans to $30 million. CDCs with a 
504-loan portfolio balance of less than $30 million will be able to 
submit a reviewed financial statement.
    3. The information collection will also be revised to state that 
CDCs can submit certain documents to SBA by uploading them into the new 
Corporate Governance Repository, and CDCs will not need to include 
those documents with their Annual Report if they previously uploaded 
the documents to the Repository. In addition, starting with the 
submission of the FY 2019 Annual Report, CDCs can file their entire 
Annual Report with SBA using the Repository.
    4. Finally the collection will be amended to remove certain 
definitions; they will instead be cross referenced to the definitions 
section of the SOP 50 10.

Solicitation of Public Comments

    SBA is requesting comments on (i) whether the collection of 
information is necessary for the agency to properly perform its 
functions; (ii) whether the burden estimates are accurate; (iii) 
whether there are ways to minimize the burden, including through the 
use of automated techniques or other forms of information technology; 
and (iv) whether there are ways to enhance the quality, utility and 
clarity of the information.

Summary of Information Collection

    Title: Certified Development Company (CDC) Annual Report Guide.
    Form Number: None (formerly SBA Form 1253).
    OMB Control Number: 3245-0074.
    Description of Respondents: Certified Development Companies.
    Total Estimated Number of Respondents Annually: 208.
    Frequency of Response Annually: 1 per each CDC.
    Total Estimated Annual Hour Burden: 5,824.

Curtis Rich,
Management Analyst.
[FR Doc. 2020-05448 Filed 3-16-20; 8:45 am]
BILLING CODE 8025-03-P