82 FR 40553 - Proposed Information Collection; Comment Request; Form ED-209 & Form ED-209I; Revolving Loan Fund Reporting and Compliance Requirements

DEPARTMENT OF COMMERCE
Economic Development Administration

Federal Register Volume 82, Issue 164 (August 25, 2017)

The Economic Development Administration, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on a proposed extension of an information collection request currently approved through December 31, 2017, as required by the Paperwork Reduction Act of 1995.

[Federal Register Volume 82, Number 164 (Friday, August 25, 2017)]
[Notices]
[Page 40553]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-18092]



[[Page 40553]]

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DEPARTMENT OF COMMERCE

Economic Development Administration


Proposed Information Collection; Comment Request; Form ED-209 & 
Form ED-209I; Revolving Loan Fund Reporting and Compliance Requirements

AGENCY: Economic Development Administration, U.S. Department of 
Commerce.

ACTION: Notice.

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SUMMARY: The Economic Development Administration, as part of its 
continuing effort to reduce paperwork and respondent burden, invites 
the general public and other Federal agencies to comment on a proposed 
extension of an information collection request currently approved 
through December 31, 2017, as required by the Paperwork Reduction Act 
of 1995.

DATES: Written comments must be submitted on or before October 24, 
2017.

ADDRESSES: Direct all written comments to Jennifer Jessup, Departmental 
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th 
and Constitution Avenue NW., Washington, DC 20230 (or via email at 
[email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument and instructions should 
be directed to Mitchell Harrison, Program Analyst, Performance and 
National Programs Division, Economic Development Administration U.S. 
Department of Commerce, 1401 Constitution Avenue NW., Mail Stop 71030, 
Washington, DC 20230, telephone (202) 482-4696, or via email at 
[email protected].

SUPPLEMENTARY INFORMATION:

I. Abstract

    The Economic Development Administration (``EDA'') leads the Federal 
economic development agenda by promoting innovation and 
competitiveness, preparing American regions for growth and success in 
the worldwide economy.
    The EDA Revolving Loan Fund (``RLF'') Program, authorized under 
section 209 of the Public Works and Economic Development Act of 1965, 
as amended (``PWEDA'') (42 U.S.C. 3149), has served as an important 
pillar of EDA investment programs since the establishment of the RLF 
Program in 1975. The purpose of the RLF Program is to provide regions 
with a flexible and continuing source of capital, to be used with other 
economic development tools, for creating and retaining jobs and 
inducing private investment that will contribute to long-term economic 
stability and growth. EDA provides RLF grants to eligible recipients, 
which include State and local governments, Indian tribes, and non-
profit organizations, to operate a lending program that offers loans 
with flexible repayment terms, primarily to small businesses in 
distressed communities that are unable to obtain traditional bank 
financing. These loans enable small businesses to expand and lead to 
new employment opportunities that pay competitive wages and benefits.
    A unique feature of the RLF Program is that, by law, EDA must 
exercise fiduciary responsibility over its RLF portfolio in perpetuity. 
EDA RLF regulations therefore require RLF recipients to submit Form ED-
209, Revolving Loan Fund Financial Report, every six months for each 
RLF they operate (13 CFR 307.14(a)). In addition, RLF recipients must 
submit Form ED-209I, RLF Income and Expense Statement, if either of the 
following conditions applies to their RLF: Administrative expenses for 
the reporting period exceeded $100,000, or RLF administrative expenses 
for the reporting period exceeded 50 percent of RLF income earned 
during the reporting period (13 CFR 307.14(c)). EDA requires that both 
of these reports be completed using an authorized and EDA-provided 
fillable PDF (Portable Document Format) Form.

II. Method of Collection

    Currently, Form ED-209 and Form ED-209I may be obtained by RLF 
recipients from EDA's Web site, www.eda.gov, or upon request from EDA 
RLF Administrators at each of the EDA regional offices. RLF recipients 
are responsible for completing the Forms and submitting them to their 
assigned EDA RLF Administrators in compliance with EDA regulations.

III. Data

    Office of Management and Budget (OMB) Control Number: 0610-0095.
    Form Number(s): ED-209 and ED-209I.
    Type of Review: Extension of a currently approved information 
collection.
    Affected Public: EDA RLF recipients: State, local and tribal 
governments; community organizations; not-for-profit organizations.
    Estimated Number of Respondents: 1,328.
    Estimated Time per Response: ED-209, 3 hours; and ED-209I, 1 hour.
    Estimated Total Annual Burden Hours: 3,796 Hours.
    Estimated Total Annual Cost to Public: $266,973 (cost assumes 
application of U.S. Bureau of Labor Statistics first quarter 2017 mean 
hourly wage for management, business, and financial occupations of 
$70.33).

IV. Request for Comments

    Comments are invited on: (1) Whether the proposed collection of 
information is necessary for the proper performance of the agency's 
functions, including whether the information will have practical 
utility; (2) the accuracy of the agency's estimate of the burden 
(including hours and cost) of the proposed collection of information; 
(3) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (4) ways to minimize the burden of the 
collection of information on respondents, including through the use of 
automated collection techniques or other forms of information 
technology.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for Office of Management and Budget 
approval of this information collection; they also will become a matter 
of public record.

Sheleen Dumas,
Departmental PRA Lead, Office of the Chief Information Officer.
[FR Doc. 2017-18092 Filed 8-24-17; 8:45 a.m.]
 BILLING CODE 3510-24-P