CARES Act Loan and Payroll Support Programs for Air Carriers and Other Eligible Businesses

ICR 202111-1505-004

OMB: 1505-0263

Federal Form Document

Forms and Documents
Document
Name
Status
Form and Instruction
Unchanged
Supplementary Document
2021-11-19
Justification for No Material/Nonsubstantive Change
2021-10-06
Justification for No Material/Nonsubstantive Change
2021-07-20
Justification for No Material/Nonsubstantive Change
2021-05-27
Justification for No Material/Nonsubstantive Change
2021-04-28
Justification for No Material/Nonsubstantive Change
2021-04-12
Justification for No Material/Nonsubstantive Change
2021-04-01
Justification for No Material/Nonsubstantive Change
2021-03-22
Justification for No Material/Nonsubstantive Change
2021-03-10
Justification for No Material/Nonsubstantive Change
2021-03-01
Justification for No Material/Nonsubstantive Change
2021-02-25
Justification for No Material/Nonsubstantive Change
2021-02-03
Justification for No Material/Nonsubstantive Change
2021-01-28
Justification for No Material/Nonsubstantive Change
2021-01-08
Supplementary Document
2021-01-04
Supporting Statement A
2021-11-19
ICR Details
1505-0263 202111-1505-004
Received in OIRA 202110-1505-001
TREAS/DO
CARES Act Loan and Payroll Support Programs for Air Carriers and Other Eligible Businesses
Revision of a currently approved collection   No
Emergency 11/19/2021
11/19/2021
  Requested Previously Approved
6 Months From Approved 01/31/2022
3,400 5,000
13,070 18,770
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 C.F.R. § 1320.13, the Department of the Treasury (Treasury) requests emergency processing for Payroll Support Program (PSP or 4112) and 4003 Loan Program (4003) Quarterly Template Edits, revising OMB Control Number 1505-0263. On March 20, 2020, the Coronavirus Aid, Relief, and Economic Securities Act (CARES Act) was signed into law, and established the Payroll Support Program, under Division A, Title IV, Subtitle B, and the 4003 Loan Program, under Division A, Title IV, Subtitle A. The Payroll Support Program provides payroll support to passenger air carriers, cargo air carriers, and certain contractors for the continuation of payment of employee wages, salaries, and benefits. The 4003 Loan Program provides up to $25 billion for loans and loan guarantees to passenger air carriers, repair station operators certified under 14 CFR part 145, and ticket agents; up to $4 billion for loans and loan guarantees to cargo air carriers; and up to $17 billion for loans and loan guarantees to businesses critical to maintaining national security. Treasury has conducted quarterly compliance checks of the Payroll Support Program since the second calendar year quarter of 2020 and the 4003 Loan Program since the fourth calendar year quarter of 2020 through the submission of quarterly compliance templates in Treasury’s portal. The PSP and 4003 programs, in coordination with policy and ORP leadership, recommend 9 new questions to be added into the third quarter 2021 quarterly compliance templates. The new questions Treasury would like to add address issues with reporting fundamental changes of a recipient’s structure, swapped collateral, and impaired collateral during the reporting quarter. Due to the need to provide guidance to recipients so they can gather the necessary information needed to be reported through the Treasury interim reporting portal once it opens, Treasury requests emergency processing and approval by November 19, 2021 of the Quarterly Template Edits. 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.

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
   PL: Pub.L. 116 - 260 401-412 Name of Law: Consolidated Appropriations Act, 2021
  
PL: Pub.L. 116 - 260 401-412 Name of Law: Consolidated Appropriations Act, 2021

Not associated with rulemaking

No

  Total Request 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 3,400 5,000 0 0 -1,600 0
Annual Time Burden (Hours) 13,070 18,770 0 -5,700 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Changing Forms
The changes to the collection since the previous OMB approval are to include additional questions for Quarter 3 2021 reporting. The additional questions focus on fundamental changes to a recipient’s structure, swapped collateral, and impaired collateral during the report quarter and will increase the burden hours by 5700 hours.

$6,643,355
No
    No
    No
No
No
No
Yes
Molly Stasko 202 622-8922 [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.
11/19/2021


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