This is a submission for approval of a non-material change request based on the upcoming publication of regulations streamlining procedures for Electric Program borrowers, including loan application requirements, approval of work plans and load forecasts, which will result in a reduction of response time from respondents. Regulation revisions also allow RUS to rely on the borrowers' year end filed Financial and Operating Reports unless the borrower has failed to meet applicable financial ratios, as required by its security instrument and loan contract. The agency estimates that the numbers of respondents will be reduced by this change, reducing the annualized burden. The regulation revisions remove requirements for borrowers and/or applicants to submit Board of Directors' resolutions resulting in a reduction of response time.
The latest form for RUS Electric Loan Application and Related Reporting Burdens expires 2021-04-30 and can be found here.
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Supporting Statement A |