State Small Business Credit Initiative Allocation Agreement

Forms and Documents

Document Name	Status
SSBCI Allocation Agreement Annual Reports Form	Removed
SSBCI Application Form	Modified
1505-0227 SSBCI Capital Application Emergency Justification Memo 2021-11-17_signed.pdf Supplementary Document	2021-11-17
1505-0227 SSCBI_PRA SS_Capital Application 11.17.21.docx Supporting Statement A	2021-11-17

IC Document Collections

IC ID	Document Title	Status
200705	Allocation Agreement for Participating Municipalities Other-Agreement	Removed
200704	Quarterly Technical Assistance Review Other-Technical Assistance Questionnaire	Removed
197398	SSBCI Allocation Agreement Annual Reports Form	Removed
195750	SSBCI Allocation Agreement Quarterly Reports Other-	Removed
195749	SSBCI Application Form	Modified

ICR Details

OMB Control No: 1505-0227	ICR Reference No: 202111-1505-003
Status: Received in OIRA	Previous ICR Reference No: 201611-1505-002
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: State Small Business Credit Initiative Allocation Agreement
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 11/17/2021
Date Submitted to OIRA: 11/17/2021

	Requested	Previously Approved
Expiration Date	6 Months From Approved
Responses	500	0
Time Burden (Hours)	2,500	0
Cost Burden (Dollars)	0	0

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Abstract: Under the Small Business Jobs Act of 2010 (the "Act"), the Department of the Treasury is responsible for implementing several components of the Act. Among these components is a program under title III of the Act which requires Treasury to make payments to participating states. Participating states will use the federal funds for programs that leverage private lending to help finance small businesses and manufacturers that are creditworthy, but are not getting the loans they need to expand and create jobs. The collection of information is necessary to ensure that the allocation agreement constitutes a legal binding obligation of the participating state and to monitor participating state compliance and performance. The recordkeeping requirements ensure both the effective and efficient use of the funds consistent with the agreement.

Emergency Justfication: On March 11, 2021, the President signed the American Rescue Plan Act of 2021 (the “Act”), Pub. L. No. 117-2. Title III, Subtitle C, Section 3301 of the Act provides $10 billion for the Department of the Treasury (Treasury) to make payments to States (defined to include the District of Columbia), U.S. Territories (Puerto Rico, U.S. Virgin Islands, Guam, Northern Mariana Islands, and American Samoa), and Tribal governments (collectively the “Eligible Jurisdictions”) to help address the economic fallout of the pandemic and lay the foundation for a strong and equitable recovery by providing direct support to eligible jurisdictions for programs that increase access to credit for small businesses. These eligible jurisdictions must submit an application to be considered for approval of SSBCI Capital programs. Sections 12 U.S.C § 5704(b)(2) and 12 U.S.C § 5705(b)(4)) require Eligible Jurisdictions to submit a complete SSBCI application for Capital funds within 9 months of enactment, which is December 11, 2021. Treasury is seeking approval for the SSBCI Capital Application to streamline the process by which eligible jurisdictions can apply for SSBCI Capital funding. This information collection is vitally important for Treasury to review and approve eligible jurisdictions’ SSBCI Capital programs and distribute eligible jurisdiction funds. Due to the need for eligible jurisdictions to apply for these funds expeditiously, Treasury requests emergency processing and approval of the SSBCI Capital Application form by November 17, 2021. 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.

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Authorizing Statute(s): PL: Pub.L. 117 - 2 3301 Name of Law: American Rescue Plan Act of 2021
  

Citations for New Statutory Requirements: PL: Pub.L. 117 - 2 3301 Name of Law: American Rescue Plan Act of 2021

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Allocation Agreement for Participating Municipalities
Quarterly Technical Assistance Review
SSBCI Allocation Agreement Annual Reports	n/a, n/a, n/a	SSBCI State 2016 Annual Report Template ,   SSBCI State Final Summary of Program Performance ,   SSBCI State 2016 Annual Report Template
SSBCI Allocation Agreement Quarterly Reports
SSBCI Application	N/A	SSBCI Application

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ICR Summary 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	500	0	500	-516	0	516
Annual Time Burden (Hours)	2,500	0	2,500	-756	0	756
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: This burden is increasing due to reinstatement of the SSBCI program in new legislation.

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Annual Cost to Federal Government: $3,290,332

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Yes

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 11/17/2021

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