CARES Act Air Carrier Loan and Payroll Support Programs

ICR 202003-1505-003

OMB: 1505-0263

Federal Form Document

IC Document Collections
ICR Details
1505-0263 202003-1505-003
Historical Active
TREAS/DO
CARES Act Air Carrier Loan and Payroll Support Programs
New collection (Request for a new OMB Control Number)   No
Emergency 03/30/2020
Approved without change 03/30/2020
Retrieve Notice of Action (NOA) 03/30/2020
The Payroll Support Application Form for Air Carriers and Contractors under sections 4112 and 4113 of the CARES Act is approved. The Department of the Treasury will make a subsequent information collection request submission for approval of the application form for loans and loan guarantees under section 4003 of the CARES Act.
  Inventory as of this Action Requested Previously Approved
09/30/2020 6 Months From Approved
12,000 0 0
24,000 0 0
0 0 0

The Act authorizes the Secretary of the Treasury to make loans, loan guarantees, and other investments that do not exceed $500 billion in the aggregate to provide liquidity to eligible businesses related to losses incurred as a result of coronavirus. Section 4003(b)(1)-(3) authorizes the Secretary to make loans and loan guarantees available to passenger air carriers and cargo air carriers, as well as certain related businesses, and businesses critical to maintaining national security.
On March 27, 2020, the President signed the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act,” (P.L. 116-136) which provides emergency assistance and health care response for individuals, families and businesses affected by the COVID-19 pandemic, and provides emergency appropriations to support executive branch agency operations during the COVID-19 pandemic. The Act, among other things, authorizes the Secretary of the Treasury to make loans, loan guarantees, and other investments that do not exceed $500 billion in the aggregate to provide liquidity to eligible businesses, States, and municipalities related to losses incurred as a result of coronavirus. Section 4003(b)(1)-(3) authorizes the Secretary to make loans and loan guarantees available to passenger air carriers and cargo air carriers, as well as certain related businesses, and businesses critical to maintaining national security. Section 4003(c) of the Act requires the Department of the Treasury (“Department”) to publish application procedures and minimum requirements for loans, loan guarantees, or other investments under Section 4003(b)(1)-(3) within ten days after enactment. The Act also authorizes the Secretary of the Treasury to provide payments to passenger and cargo air carriers, as well as certain contractors, which shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits. Section 4113 requires the Department to publish streamlined and expedited procedures within five days of enactment of the Act for air carriers and contractors to submit requests for such payroll support. Not later than ten days of enactment of the Act, the Department is required to make initial payments to air carriers and contractors that submit requests approved by the Secretary. Because of the immediate need addressed by these programs and the Act’s urgent deadlines, the Department requests emergency processing for the applications and related reporting under these sections of the Act.

PL: Pub.L. 116 - 136 4003 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act
   PL: Pub.L. 116 - 136 4112-4113 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act
  
PL: Pub.L. 116 - 136 4003 Name of Law: Coronavirus Aid, Relief, and Economic Security (CARES) Act

Not associated with rulemaking

No

1
IC Title Form No. Form Name
Payroll Support Application Form (Section 4112 & 4113) n/a Payroll Support Application Form

  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 12,000 0 12,000 0 0 0
Annual Time Burden (Hours) 24,000 0 24,000 0 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
No
This collection of information is a new statutory requirement and does not reflect a change in any previous burden.

$0
No
    No
    No
No
No
No
Uncollected
Molly Stasko 202 868-2972 [email protected]

  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.
03/30/2020


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