Extensions of Payments of Principal and Interest

Forms and Documents

Document Name	Status
2016 - FINAL Support Stmt. -0572-0123(2).doc Supporting Statement A	2016-01-27
2016 - burden summary Form 36- 0572-0123.xls Supplementary Document	2016-01-14
2015-25150.pdf Supplementary Document	2016-01-14
Rural Electrification Act of 1936.doc Supplementary Document	2016-01-14

IC Document Collections

IC ID	Document Title	Status
43533	Extensions of Payments of Principal and Interest	Modified

ICR Details

OMB Control No: 0572-0123	ICR Reference No: 201512-0572-004
Status: Historical Active	Previous ICR Reference No: 201209-0572-001
Agency/Subagency: USDA/RUS	Agency Tracking No:
Title: Extensions of Payments of Principal and Interest
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/29/2016
	Date Received in OIRA: 01/27/2016
Terms of Clearance: In accordance with 5 CFR 1320, the information collection is approved for 3 years. The Agency is reminded, however, to ensure that burden reflects expected annual burden of following 3 years and not the actual burden of previous three years.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2019	36 Months From Approved	03/31/2016
Responses	58	0	90
Time Burden (Hours)	296	0	424
Cost Burden (Dollars)	0	0	0

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Abstract: This regulation codifies the procedures borrowers must follow to request extensions of principal and interest. Eligible purposes include financial hardship, energy resource conservation (ERC) loans, renewable energy project, distributed generation projects, and contributions-in-aid of construction. These procedures are codified at 7 CFR 1721, subpart B.

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Authorizing Statute(s): US Code: 7 USC 912 Name of Law: Rural Electrification Act of 1936 (RE Act)
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	80 FR 60116	10/05/2015
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 4611	01/27/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Extensions of Payments of Principal and Interest

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ICR Summary of Burden

	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	58	90	0	0	-32	0
Annual Time Burden (Hours)	296	424	0	0	-128	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: There was a decrease of 128 burden hours from the previous collection of 424 burden hours to 296 for this collection cycle. The decrease in hours is attributed to a reduction in Requests for Deferment of Energy Resource Conservation loans from 40 respondents in the previous collection to 29 respondents for this collection.

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Annual Cost to Federal Government: $34,749

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 01/27/2016

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