[Federal Register: June 25, 2003 (Volume 68, Number 122)]
[Notices]
[Page 37795]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr25jn03-27]
[[Page 37795]]
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DEPARTMENT OF AGRICULTURE
Rural Housing Service (RHS)
Rural Business-Cooperative Service (RBS)
Rural Utilities Service (RUS)
Farm Service Agency (FSA)
Notice of Request for Extension of a Currently Approved
Information Collection
AGENCIES: Rural Housing Service, Rural Business-Cooperative Service,
Rural Utilities Services, Farm Service Agency, USDA.
ACTION: Proposed collection; Comments requested.
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SUMMARY: In accordance with the Paperwork Reduction Act of 1995, this
notice announces the Agencies' intention to request an extension for a
currently approved information collection in support of 7 CFR, part
1951, subpart F, ``Analyzing Credit Needs and Graduation of
Borrowers.''
DATES: Comments on this notice must be received on or before August 25,
2003 to be assured consideration.
FOR FURTHER INFORMATION CONTACT: Bashir I. Duale, Senior Loan Officer,
USDA, FSA, Farm Loan Programs, Loan Servicing and Property Management
Division, 1400 Independence Ave., SW., Washington, DC 20250-0523,
telephone (202) 720-1645. Electronic mail: bashir_duale@wdc.usda.gov.
SUPPLEMENTARY INFORMATION:
Title: 7 CFR, part 1951, subpart F, ``Analyzing Credit Needs and
Graduation of Borrowers.''
OMB Number: 0575-0093.
Expiration Date of Approval: August 31, 2003.
Type of Request: Extension of a currently approved information
collection.
Abstract: Section 333 of the Consolidated Farm and Rural
Development Act (Con Act) (7 U.S.C. 1983) requires the Agencies to
``graduate'' their direct loan borrowers to other credit when they are
able to do so. Graduation is required because the Government loans are
not to be extended beyond a borrower's need for subsidized rates or
Government credit. Borrowers must refinance their direct Government
loan when other credit becomes available at reasonable rates and terms.
If other credit is not available, the Agencies will continue to review
the account for possible graduation at periodic intervals. Also, 7 CFR
part 1951, subpart F, requires FSA to provide a financial prospectus to
lenders who may be interested in providing credit to FSA direct farm
loan borrowers with an FSA guarantee and interest assistance. The
information collected to carry out these statutory mandates is
financial data such as amount of income, operating expenses, asset
values and liabilities. This information collection is then submitted
by the Agencies to private creditors.
Estimate of Burden: Public reporting for this collection of
information is estimated to average three hours per response.
Respondents: Individuals or households, business or other for
profit and farms.
Estimated Number of Respondents: 17,445.
Estimated Number of Responses per Respondent: 3.
Estimated Number of Responses: 34,908.
Estimated Total Annual Burden on Respondents: 70,414 hours.
Copies of this information collection can be obtained from Renita
Bolden, Regulations and Paperwork Management Branch, at (202) 692-0035.
Comments: Comments are invited on: (a) Whether the proposed
collection of information is necessary for the proper performance of
the functions of the Agencies, including whether the information will
have practical utility; (b) the accuracy of the Agencies estimate of
the burden of the proposed collection of information including the
validity of the Department of Agriculture methodology and assumptions
used; (c) ways to enhance the quality, utility and clarity of the
information to be collected; and (d) 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 may be sent to Renita Bolden, Regulations and
Paperwork Management Branch, U.S. Department of Agriculture, Rural
Development, STOP 0742, 1400 Independence Ave., SW., Washington, DC
20250. All responses to this notice will be summarized and included in
the request for OMB approval. All comments will also become a matter of
public record.
Dated: June 5, 2003.
Thomas C. Dorr,
Undersecretary for Rural Development.
June 19, 2003.
J.B. Penn,
Undersecretary for Farm and Foreign Agricultural Services.
[FR Doc. 03-16022 Filed 6-24-03; 8:45 am]