State Small Business Credit Initiative Allocation Agreement

ICR 201012-1505-001

OMB: 1505-0227

Federal Form Document

Forms and Documents
Document
Name
Status
Supporting Statement A
2010-12-17
ICR Details
1505-0227 201012-1505-001
Historical Active
TREAS/DO
State Small Business Credit Initiative Allocation Agreement
New collection (Request for a new OMB Control Number)   No
Emergency 12/17/2010
Approved without change 12/17/2010
Retrieve Notice of Action (NOA) 12/17/2010
Treasury will upload instruments, in place of placeholders, as a non-substantive change once documents are available to the public.
  Inventory as of this Action Requested Previously Approved
06/30/2011 6 Months From Approved
112 0 0
1,232 0 0
0 0 0

Under the Small Business Jobs Act of 2010 (the “Act”), the Department of the Treasury is responsible for implementing several components of the Act. Among these components is a program under title III of the Act which requires Treasury to make payments to participating states. Participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. The collection of information is necessary to ensure that the allocation agreement constitutes a legal binding obligation of the participating state and to monitor participating state compliance and performance. The recordkeeping requirements ensure both the effective and efficient use of the funds consistent with the agreement.
On September 27, 2010, President Obama signed into law the Small Business Jobs Act of 2010 (the “Act”). The Act created the SSBCI which was funded with $1.5 billion to strengthen state programs that support lending to small businesses and small manufacturers. The SSBCI is expected to help spur up to $15 billion in lending to small businesses to help address the current economic challenges facing small businesses many of which are at imminent risk for failure. To be effective in meeting this goal is it critical that the SSBCI allocation agreement and the collections of information contained therein be made available immediately because entering into the agreement is a prerequisite to receipt of funding.

PL: Pub.L. 111 - 240 3 Name of Law: Small Business Jobs Act of 2010
  
PL: Pub.L. 111 - 240 3 Name of Law: Small Business Jobs Act of 2010

Not associated with rulemaking

No

2
IC Title Form No. Form Name
SSBCI Application, Quarterly Report
SSBCI Recordkeeping and Allocation Agreement

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 112 0 112 0 0 0
Annual Time Burden (Hours) 1,232 0 1,232 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This is a new collection.

No
No
No
No
No
Uncollected
Daniel Ballard 202 674-1781

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
12/17/2010


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