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Agency Information Collection Activities; Submission for OMB Review; Comment Request; Air Carrier Loan and Payroll Support Programs

Summary

A Department of the Treasury notice submitting the Air Carrier Loan and Payroll Support Programs collection, OMB Control Number 1505-0263, for OMB review as a revision of a currently approved collection. It recounts that the CARES Act (Pub. L. 116-136), the Consolidated Appropriations Act, 2021 and the American Rescue Plan Act, 2021 authorized loans and assistance to eligible businesses such as air carriers. Treasury is no longer accepting loan or Payroll Support Program (PSP) applications, but participants must keep records for five years or more and file quarterly compliance reports. The estimates are 34 respondents, 170 annual responses, 4.25 hours for compliance reporting, 30 hours for compliance audits and 1,598 annual burden hours. It is signed by Spencer W. Clark, Treasury PRA Clearance Officer.

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Full text

SUPPLEMENTARY INFORMATION:

Departmental Offices (DO)

Title: Air Carrier Loan and Payroll Support Programs.

OMB Control Number: 1505-0263.

Type of Request: Revision of a currently approved collection.

Description: Several pieces of legislation (the “Coronavirus Aid, Relief, and Economic Security Act” or the “CARES Act” ( Pub. L. 116-136 ), the Consolidated Appropriations Act, 2021 or the “Appropriations Act,” and the American Rescue Plan Act, 2021) provided emergency assistance and health care response for individuals, families and businesses affected by the ( printed page 17690) COVID-19 pandemic, and provided emergency appropriations to support executive branch agency operations during the COVID-19 pandemic. These authorized the Secretary of the Treasury to make loans, loan guarantees, other investments and assistance to eligible businesses (such as air carriers and certain related contractors), States, and municipalities related to losses incurred because of coronavirus.

While Treasury is no longer accepting loan program or Payroll Support Program (PSP) applications, both programs require ongoing compliance reporting for certain participants, as well as recordkeeping. Specifically, as part of the loan and PSP agreements, applicants were required to maintain records for a period of five years or more, depending on the agreement type and period of performance, as well as submit compliance reports on a quarterly basis to ensure funding is used in accordance with the agreements and aid statutory reporting requirements.

Form: None.

Affected Public: Businesses or other for-profits.

Estimated Number of Respondents: 34.

Frequency of Response: Quarterly, On occasion.

Estimated Total Number of Annual Responses: 170.

Estimated Time per Response: 4.25 hours for compliance reporting and recordkeeping, 30 hours for compliance audits.

Estimated Total Annual Burden Hours: 1,598.

Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,

Treasury PRA Clearance Officer.

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