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
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
molly.stasko@hq.dhs.gov
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.