Information Collection; Inventory Property Management

AGENCY:

Farm Service Agency, USDA.

ACTION:

Notice; request for comments.

SUMMARY:

In accordance with the Paperwork Reduction Act of 1995, the Farm Service Agency (FSA) is seeking comments from all interested individuals and organizations on the extension of a currently approved information collection that supports Inventory Property Management. The information is used to evaluate applicant requests to purchase inventory property, determine eligibility to lease or purchase inventory property, and ensure the payment of the lease amount or purchase amount associated with the acquisition of inventory property.

DATES:

We will consider comments that we receive by July 2, 2010.

ADDRESSES:

We invite you to submit comments on this notice. In your comments, include date, volume, and page number, the OMB control number, and the title of the information collection of this issue of the Federal Register. You may submit comments by any of the following methods:

• Mail: J. Lee Nault, Loan Specialist, USDA/FSA/FLP, STOP 0523, 1400 Independence Avenue, SW., Washington, DC 20250-0503.
• E-mail: lee.nault@wdc.usda.gov.
• Fax: 202-690-0949.

You may also send comments to the Desk Officer for Agriculture, Office of Information and Regulatory Affairs, Office of Management and Budget, Washington, DC 20503. Copies of the information collection may be requested by contacting J. Lee Nault at the above address.

FOR FURTHER INFORMATION CONTACT:

J. Lee Nault, Loan Specialist, Farm Service Agency, (202) 720-6834.

SUPPLEMENTARY INFORMATION:

Title: (7 CFR part 767) Farm Loan Programs—Inventory Property Management.

OMB Number: 0560-0234.

Expiration Date: 11/30/2010.

Type of Request: Extension of a currently approved information collection.

Abstract: FSA's Farm Loan Programs provide supervised credit in the form of loans to family farmers to purchase real estate and equipment and finance agricultural production. Inventory Property Management, as specified in 7 CFR part 767, provides the requirements for the management, lease, and sale of security property acquired by FSA. FSA may take title to real estate as part of dealing with a problem loan either by entering a winning bid in an attempt to protect its interest at a foreclosure sale, or by accepting a deed of conveyance in lieu of foreclosure. Information collections established in the regulation are necessary for FSA to determine an applicant's eligibility to lease or purchase inventory property and to ensure the applicant's ability to make payment on the lease or purchase amount.

Respondents: Individuals or households, businesses or other for profit farms.

Estimated Annual Number of Respondents: 280.

Estimated Number of Responses per Respondent: 1.04.

Total Annual Responses: 290.

Estimated Total Annual Burden Hours: 432.

We are requesting comments on all aspects of this information collection and to help us to:

(1) Evaluate whether the collection of information is necessary for the proper performance of the functions of FSA, including whether the information will have practical utility;

(2) Evaluate the accuracy of FSA's estimate of burden including the validity of the methodology and assumptions used;

(3) Enhance the quality, utility and clarity of the information to be collected;

(4) Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology.

All comments received in response to this notice, including names and addresses when provided, will be a matter of public record. Comments will be summarized and included in the submission for Office of Management and Budget approval.