Data Collection Available for Public Comments, 83069 [2024-23767]

Agencies

• SMALL BUSINESS ADMINISTRATION

[Federal Register Volume 89, Number 199 (Tuesday, October 15, 2024)]
[Notices]
[Page 83069]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-23767]


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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. This notice complies with that requirement.

DATES: Submit comments on or before December 16, 2024.

ADDRESSES: Send all comments via email to Shayne Bradshaw, Financial 
Analyst, Office of Credit Risk Management, 202-996-5370 at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Paul Kirwin, Chief, Supervised Lender 
Oversight Division, Office of Credit Risk Management, 
[email protected], or Curtis B. Rich, Agency Clearance Officer, 202-
205-7030, [email protected].

SUPPLEMENTARY INFORMATION: The 504 Loan Program aims to foster economic 
development and to create or preserve job opportunities in both urban 
and rural areas by providing long-term financing for small business 
concerns. A Certified Development Company (CDC) is an entity authorized 
by the Small Business Administration (SBA) to deliver 504 financing to 
small businesses. 13 CFR 120.830 requires CDCs to submit certain 
reports to SBA, collectively known as the ``Annual Report''. As the 
primary regulatory body overseeing CDCs, the SBA conducts due diligence 
to ensure CDCs comply with the operational and regulatory requirements 
of the 504 program, thereby ensuring its sustainability. The CDC Annual 
Report Guide serves the Office of Credit Risk Management, the Office of 
Financial Assistance, and all SBA District Offices by providing crucial 
information on the CDCs' financial health, regulatory compliance, and 
the effectiveness of their assistance to small businesses. This 
information also aids the SBA in drafting reports to Congress.
    The information collection has been adjusted to include the 
following proposed changes:
    1. Revised Economic Development Report: Standardized to gather 
pertinent, measurable data on current period economic development 
activity. Changes include the removal of certain information 
collections such as the report on previous year's investment and 
results, narrative on local economic changes which impact lending, and 
economic development strategy and projections for the upcoming year.
    2. Enhanced Guidance and Optional Tables: Added to facilitate the 
compilation of the Report.
    3. Requirement for Auditor's Engagement Letter: To be submitted 
alongside CDC financial statements.
    4. Updated 159 Reporting: Reflects changes in SOP 50 10 7.1, no 
longer requiring completed Form 159 submissions with the Annual Report.
    5. Report on Compensation: removed requirement for submission of 
Executive Compensation Policy and certain supporting documentation.
    6. Guidance for Program Renewals: Added instructions for the 
Accredited Lenders Program (ALP) and Premier Certified Lenders Program 
(PCLP) renewals.
    These updates aim to streamline the information collection process, 
reduce the administrative burden on CDCs, enhance the utility of the 
report, and standardize data reporting to improve overall reporting 
efficiency and oversight.

Solicitation of Public Comments

    SBA is requesting 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 through 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.

Summary of Information Collection

    OMB Control Number: 3245-0074.
    Title: Certified Development Company (CDC) Annual Report Guide.
    Description of Respondents: Certified Development Companies.
    Form Number: SBA Form 1253.
    Total Estimated Annual Responses: 195.
    Total Estimated Annual Hour Burden: 5,460 (28 Hours on average per 
CDC).

Curtis B. Rich,
Agency Clearance Officer.
[FR Doc. 2024-23767 Filed 10-11-24; 8:45 am]
BILLING CODE 8026-09-P