OMB is approving the revision to the existing collection as a non-sub change due to the recent emergency approval of the collection. This approval includes the PSP2 online application portal in the approval under this OMB control number. Some minor clarifying edits were made to the online application during review.
Inventory as of this Action
Requested
Previously Approved
07/31/2021
07/31/2021
07/31/2021
5,000
0
4,430
18,770
0
17,660
0
0
0
The CARES 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.
Pursuant to the Office of Management and Budget (OMB) procedures established at 5 CFR 1320, the Department of the Treasury (Treasury) requests emergency processing for the Air Carrier Loan and Payroll Support Programs information collection request.
On December 27, 2020, the President signed the Consolidated Appropriations Act, 2021 (the âActâ), which provides additional emergency assistance and health care response for individuals, families and businesses affected by the COVID-19 pandemic.
Subtitle A of Title IV of Division N of the Act (the PSP Extension Law) authorizes the Secretary of the Treasury to provide payments to passenger air carriers and certain contractors, which shall exclusively be used for the continuation of payment of employee wages, salaries, and benefits. Section 403 of the PSP Extension Law requires Treasury to publish streamlined and expedited procedures, to the maximum extent practicable, within five days of enactment of the PSP Extension Law for passenger air carriers and contractors to submit requests for such payroll support. Treasury is required to make initial payments to passenger air carriers and contractors that submit requests approved by the Secretary within ten days of enactment of the PSP Extension Law.
Because of the immediate need addressed by these programs, the essential nature of these programs to Treasuryâs mission, and the PSP Extension Lawâs urgent deadlines, Treasury requests emergency processing and approval on January 6, 2021 for the applications and related reporting under the PSP Extension Law. Given the inability to seek public comment during such a short timeframe, Treasury requests a waiver from the requirement to publish notice in the Federal Register seeking public comment.
The changes to the collection since the previous OMB approval are to include the application and agreement requirements for PSP2 and remove application and agreement requirements for the loan program and PSP1. This adds an estimated 600 new respondents for PSP2 applications and agreements. However, the total burden will decline because Treasury is no longer accepting and processing loan and PSP1 applications and agreements. Treasury previously estimated that it would receive 1,000 responses under those programs. Treasury also updated the cost to respondents to reflect the latest data from the Bureau of Labor Statistics.
Treasury estimates that the hours per response and average review time for PSP2 applications and agreements will be the same as the loan program and PSP1. Because PSP2 recipients will submit a single quarterly compliance report for PSP1 and PSP2, compliance reporting and recordkeeping responses and burden will remain unchanged.
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.
Loan and Payroll Support Applications and Agreements
1505-0263 Change Request Justification - PSP2 Application Portal 2021-01-08.docx
PSP2 Emergency Justification Memo_20210104_Signed.pdf
Compliance Reporting and Recordkeeping