83 FR 2862 - Data Collection Available for Public Comments

SMALL BUSINESS ADMINISTRATION

Federal Register Volume 83, Issue 13 (January 19, 2018)

Page Range2862-2863
FR Document2018-00913

As required by the Paperwork Reduction Act (PRA) the Small Business Administration (SBA) announces its intention to request approval from the Office of Management and Budget (OMB) of the reporting requirements described below. Under the PRA federal agencies are required to publish a notice in the Federal Register concerning each collection of information before it is submitted to OMB for review and approval, and to allow 60 days for public comment on the notice. This notice complies with that requirement.

Federal Register, Volume 83 Issue 13 (Friday, January 19, 2018)
[Federal Register Volume 83, Number 13 (Friday, January 19, 2018)]
[Notices]
[Pages 2862-2863]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-00913]


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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: As required by the Paperwork Reduction Act (PRA) the Small 
Business Administration (SBA) announces its intention to request 
approval from the Office of Management and Budget (OMB) of the 
reporting requirements described below. Under the PRA federal agencies 
are required to publish a notice in the Federal Register concerning 
each collection of information before it is submitted to OMB for review 
and approval, and to allow 60 days for public comment on the notice. 
This notice complies with that requirement.

DATES: Submit comments on or before March 15, 2018.

ADDRESSES: Send all comments to Michael Donadieu, Director, Office of 
SBIC Examinations, Office of Investment and Innovation, Small Business 
Administration, 409 3rd Street, 6th Floor, Washington, DC 20416. Email: 
[email protected].

FOR FURTHER INFORMATION CONTACT: Curtis B. Rich, Management Analyst, 
202-205-7030, [email protected].

SUPPLEMENTARY INFORMATION: The Small Business Investment Act of 1958, 
as amended, requires SBA to examine small business investment 
companies, (``SBICs'' or ``Licensees''). The statute requires 
examination at least every two years; however, generally SBA aims to 
examine SBICs more frequently. Specifically, SBA's goal is to examine 
Leveraged licensees (SBICs with outstanding leverage, commitments, or 
earmarked assets) on a 12-month cycle and Non-leveraged licensees on a 
18-month cycle. For newly licensed SBICs, the initial examination 
generally is conducted within six months of licensing.
    At the time SBA notifies the SBIC of the pending examination, the 
agency also identifies certain information the SBIC will be required to 
submit at the commencement of the examination process to assist 
examiners in planning the examination. Additionally, the information 
will provide a basis for: (a)

[[Page 2863]]

Determining SBIC compliance with the Small Business Investment Act of 
1958, as amended (``Act'') and implementing regulations; (b) assessing 
the financial condition of SBICs and SBA's vulnerability; and (c) 
ensuring the accuracy of information that SBICs submit to SBA.
    The information to be collected consists of documentation falling 
into three broad categories: Portfolio information, Licensee documents, 
and accountant workpapers. Portfolio information covers investments 
made by the SBIC during the period covered by the examination, 
including, but not limited to, organizational and financial 
information, schedules of balances and repayments, and financing legal 
documents. Licensee documents deal with the SBIC's organization and 
operations, including, but not limited to, banking and financial 
information, corporate governance, and capital documentation. Finally, 
accountant workpapers relate to the engagement of an independent public 
accountant, including, but not limited to engagement letters and 
management representation letters.
    Comments are invited on (a) whether this reporting requirement 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 requested 
information.
    Title: SBIC Examinations Notification Letter Documentation.
    Description of Respondents: Small business investment companies 
undergoing examination pursuant to the Act.
    OMB Control Number: [To be determined; new collection].
    Total Estimated number of Respondents: 270.
    Total Estimated Annual Responses: 270.
    Estimated Time to Respond: 50 hours.
    Total Estimated Annual Hour Burden: 13,500.

Curtis B. Rich,
Management Analyst.
[FR Doc. 2018-00913 Filed 1-18-18; 8:45 am]
 BILLING CODE 8025-01-P


Current View
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
Action60-Day notice and request for comments.
DatesSubmit comments on or before March 15, 2018.
ContactCurtis B. Rich, Management Analyst, 202-205-7030, [email protected]
FR Citation83 FR 2862 

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