[Federal Register: June 1, 2004 (Volume 69, Number 105)]
[Notices]
[Page 30889-30890]
From the Federal Register Online via GPO Access [wais.access.gpo.gov]
[DOCID:fr01jn04-60]
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EMERGENCY STEEL LOAN GUARANTY BOARD
Proposed Information Collection; Comment Request; Emergency Steel
Loan Guaranty Board--Guarantee Agreement
ACTION: Notice.
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SUMMARY: The Emergency Steel Loan Guaranty Board (ESLGB), as of its
continuing effort to reduce paperwork and respondent burden, invites
the general public and other Federal agencies to comment on the
continuing and proposed information collection, as required by the
Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C.
3506(c)(2)(A)).
DATES: Written comments must be submitted on or before August 2, 2004.
ADDRESSES: Direct all written comments to Diana Hynek, Departmental
Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th
and Constitution Avenue, NW., Washington, DC 20230 (or via the Internet
at dHynek@doc.gov).
FOR FURTHER INFORMATION CONTACT: Requests for additional information
should be directed to the attention of Marguerite Owen, General
Counsel, ESLGB, (202) 482-0531 or mowen@doc.gov.
SUPPLEMENTARY INFORMATION
I. Abstract
Chapter 1, Public Law 106-51, ``The Emergency Steel Loan Guarantee
Act of
[[Page 30890]]
1999'' (``Act'') established an Emergency Steel Loan Guarantee Program
(``Program'') which is designed to provide guaranteed loans to
qualified steel and iron ore companies by private banking and
investment institutions. A Board composed of the Chairman of the
Federal Reserve Board, the Chairman on the Securities and Exchange
Commission, and the Secretary of the Department of Commerce (``Board'')
has been given the responsibility to oversee this Program.
A loan guarantee may be issued upon application to the Board by a
private banking or investment institution, which proposes to enter into
an agreement to provide a loan to a qualified steel company. A
qualified steel company is defined in the Act to mean any company that:
(A) Is incorporated under the laws of any State; (B) is engaged in the
production and manufacture of a steel mill product; and (C) has
experienced layoffs, production losses, or financial losses since
January 1998. The Act established several conditions applicable to each
loan guarantee issued by the Board.
Subsequent to the review of an application by the Board, a
successful applicant will be required to sign a guarantee agreement as
a condition of receiving the loan guarantee from the Board. The
guarantee agreement provides the terms and conditions of the loan
guarantee, and sets forth the requirements, including reporting and
record keeping, that the lender must meet for the guarantee to remain
in force.
When the program's authorizing legislation was initially enacted,
the Board's authority to issue guarantees was scheduled to terminate on
December 31, 2001, and guaranteed loans were required to be repaid by
December 31, 2005. Public Law 107-63 extended the Board's authority to
guarantee loans through December 31, 2003 and extended the date by
which all guaranteed loans must be paid in full to no later than
December 31, 2015. The authority to issue new loan guarantees, in fact,
expired on December 31, 2003. As such, the Board had not previously
requested an extension of Paperwork Reduction Act (PRA) approval for
its various information collections associated with issuance of new
guarantees. However, the authority to issue new loan guarantees was
restored by section 211 of Public Law 108-199, enacted January 23,
2004. This law extended the Board's authority to issue new loan
guarantees through December 31, 2005. Thus, the Board needs to
reinstate, and receive PRA approval for, its previously existing
information collection.
II. Method of Collection
The signed final guarantee documents for the individual loan
guarantees will be submitted in hard copy because they will contain
privileged financial and commercial information that is protected from
disclosure under the Freedom of Information Act (FOIA).
III. Data
OMB Number: 3004-0002.
Form Number(s): ESLB-1.
Type of Review: Regular submission.
Affected Public: Business and other for-profit organizations.
Estimated Number of Respondents: 2.
Estimated Time Per Response: 15 to 75 hours.
Estimated Total Annual Respondent Burden Hours: 150.
Estimated Annual Cost to the Public: $4,980.
IV. Request for Comments
Comments are invited on: (a) Whether the proposed collection of
information is necessary for the proper performance of the functions of
the agency, including whether the information will have practical
utility; (b) the accuracy of the agency's estimate of the burden
(including hours and cost) of the proposed collection of information;
(c) ways to enhance the quality, utility, and clarity of the
information to be collected; and (d) ways to minimize the burden of the
collection of information on respondents, e.g., the use of automated
collection techniques or other forms of information technology.
Comments submitted in response to this notice will be summarized or
included in the request for OMB approval of this information
collection; they will also become a matter of public record.
Dated: May 25, 2004.
Marguerite Owen,
General Counsel, Emergency Steel Loan Guaranty Board.
[FR Doc. 04-12203 Filed 5-28-04; 8:45 am]
BILLING CODE 3510-07-P