New collection (Request for a new OMB Control Number)
No
Emergency
04/29/2016
Approved with change
10/21/2016
02/12/2016
When this ICR is merged with 0560-0155, the agency should ensure that the most current version of the FSA forms are in ROCIS.
table that charts list comparision
Inventory as of this Action
Requested
Previously Approved
04/30/2017
6 Months From Approved
8,170
0
0
3,832
0
0
0
0
0
FSA is implementing a new EZ Guarantee Program and MLP. The EZ Guarantee Program will help remove a competitive disadvantage for small farming operations compared to more established or larger farming operations with adequate financing. In many areas of the United States, farmers arrange their financing needs for the upcoming growing season during the fall and winter time periods. This will also result in many of these farmers using other sources of financing for production year 2016, often at a higher interest rate, or not being able to adequately finance their farming operation. FSA will merge the information collection with the ICR 0560-0155 upon OMB approval. FSA is establishing the EZ Guarantee Program to provide a guarantee for OLs and FOs up to $50,000. The reporting and record keeping requirements imposed on the public by regulations set out in 7 CFR part 761and 7 CFR part 762 are necessary to administer the EZ Guarantee Program and MLP in accordance with the statutory requirements and are consistent with commonly performed lending practices. Periodic collection of information after loans are made is necessary to protect the Government's financial interest.
This request is for OMB review and emergency approval of a new collection of information for the EZ Guarantee Program and MLP Status. The Farm Service Agency (FSA) is implementing a EZ Guarantee Program to provide guarantees for the Farm Loan Programs Operating Loans (OLs) and Farm Ownership Loans (FOs) and implementing a new micro lender status. FSA is establishing the EZ Guarantee Program to provide a guarantee for OLs and FOs up to $50,000. The reporting and record keeping requirements imposed on the public by regulations set out in 7 CFR part 761and 7 CFR part 762 are necessary to administer the EZ Guarantee Program and MLP in accordance with the statutory requirements and are consistent with commonly performed lending practices. Periodic collection of information after loans are made is necessary to protect the Government's financial interest. FSA is implementing the MLP Status to allow nontraditional lenders to participate in the Guaranteed ML Program.
FSA will merge the information collection with the ICR 0560-0155 upon OMB approval. FSA is doing an emergency request processing instead of the regular processing because OMBâs ROCIS system requires this request be submitted as an emergency request because. FSA was not required to do a proposed rule for the programs.
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.
Form FSA-2242 (OMB 0560 Assignment of Guarantee Lender
Supporting Statement 2016.docx
FSA-85-1 Reporting and Recordkeeping Requirements 1.xlsx
EZ Guarantee Program anmd Micro Lender Program (MLP)