RUS Electric Loan Application and Related Reporting Burdens
Revision of a currently approved collection
No
Regular
01/21/2025
table that charts list comparision
Requested
Previously Approved
36 Months From Approved
07/31/2026
1,968
2,803
37,515
41,634
0
0
The Rural Utilities Service (RUS) was established in 1994 by the Federal Crop Insurance Reform and Department of Agriculture Reorganization Act of 1994 (Pub. L. 103-354, 108 Stat. 3178, 7 U.S.C. 6941 et. seq.) as successor to the Rural Electrification Administration (REA) with respect to certain programs, including the electric loan and loan guarantee program authorized under the Rural Electrification Act of 1936 (7 U.S.C. 901 et seq., as amended) (RE Act).
The RE Act authorizes and empowers the Administrator of RUS to make and guarantee loans to furnish and improve electric service in rural areas. These loans are amortized over a period of up to 35 years and secured by the borrower's electric assets and/or revenue. In the interest of protecting loan security, monitoring compliance with debt covenants, and ensuring that RUS loan funds are used for purposes authorized by law, RUS requires that borrowers prepare and submit for RUS evaluation certain studies and reports. Some of these studies and reports are required only once for each loan application; others must be submitted periodically until the loan is completely repaid.
The RE Act also authorizes and empowers the Administrator of RUS to make or cause to be made, studies, investigations, and reports concerning the condition and progress of the electrification of several States and Territories; and to publish and disseminate information with respect thereto. Information supplied by borrowers forms the basis of many of these reports.
US Code:
7 USC 901
Name of Law: Rural Electrification Act of 1936
US Code:
7 USC 6941
Name of Law: Fed Crop Ins. Reform/Dept of Ag Reorg. Act of 1994
PL: Pub.L. 110 - 246 6001 Name of Law: Food, Conservation and Energy Act of 2008
(Former Form 7), RUS Form 740c, RUS Form 325, (Former Form 12)
,
,
,
table that charts list of burden
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
1,968
2,803
0
0
-835
0
Annual Time Burden (Hours)
37,515
41,634
0
0
-4,119
0
Annual Cost Burden (Dollars)
0
0
0
0
0
0
No
No
This is a revision to a currently approved collection. Since the last submission, there was a reduction in borrowers from 625 to 608 submitting their annual reports. This change is due to borrowers paying off their debt, etc. The burden hours changed from the last package due to some forms now being part of the SAM registration process so they do not need to be accounted for separately. In addition, some forms are no longer required so those were removed from the collection and items inadvertently not captured have now been added.
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 RUS Form 740c Cost Estimates and Loan Budget for Electric Borrowers
0572-0032BEA Comment.pdf
0572-0032-BurdenWkbk-8.2.24.xlsm
0572-0032 SuppStatement-8.2.24.docx
RUS Electric Loan Application and Related Reporting Burdens