4322 Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Notices 

1 1,604 funds × 50 hours per fund = 82,000 hours. 

2The Commission’s estimates concerning the 

allocation of burden hours and the relevant wage 

rates are based on consultations with industry 

representatives and on salary information for the 

securities industry compiled by the Securities 

Industry and Financial Markets Association. The 

estimated wage figures are also based on published 

rates for senior accountants and in-house attorneys, 

modified to account for an 1800-hour work-year 

and multiplied by 5.35 to account for bonuses, firm 

size, employee benefits, and overhead, yielding 

effective hourly rates of $221 and $425, 

respectively. See Securities Industry and Financial 

Markets Association, Report on Management & 

Professional Earnings in the Securities Industry 

2013. 

3 49,200 hours × $221 per hour = $10,873,200. 

4 24,600 hours × $425 per hour = $10,455,000. 

5 8,200 hours × $4,770 per hour = $39,114,000. 

The estimate for the cost of board time as a whole 

is derived from estimates made by the staff 

regarding typical board size and compensation that 

is based on information received from fund 

representatives and publicly available sources. 

6 $10,873,200 + $10,455,000 + $39,114,000 = 

$60,442,200. 

recordkeeping requirements under rule 

17e–1 enable the Commission to ensure 

that affiliated brokers receive 

compensation that does not exceed the 

usual and customary broker’s 

commission. Without the recordkeeping 

requirement, Commission inspectors 

would have difficulty ascertaining 

whether funds were complying with 

rule 17e–1. 

Based upon an analysis of fund filings 

on Form N–CEN, approximately 1,640 

funds report reliance on rule 17e–1. 

Based on staff experience and 

conversations with fund representatives, 

we estimate that the burden of 

compliance with rule 17e–1 is 

approximately 50 hours per fund per 

year. This time is spent, for example, 

reviewing the applicable transactions 

and maintaining records. Accordingly, 

we calculate the total estimated annual 

internal burden of complying with the 

review and recordkeeping requirements 

of rule 17e–1 to be approximately 

82,000 hours.1 We further estimate that, 

of these: 

• 60 percent (49,200 hours) are spent 

by senior accountants, at an estimated 

hourly wage of $221,2 for a total of 

approximately $10,873,200 per year; 3

• 30 percent (24,600 hours) are spent 

by in-house attorneys at an estimated 

hourly wage of $425, for a total of 

approximately $10,455,000 per year; 4

and 

• 10 percent (8,200) are spent by the 

funds’ board of directors at an hourly 

cost of $4,770, for a total of 

approximately $39,114,000 per year.5

Based on these estimated wage rates, 

the total cost to the industry of the hour 

burden for complying with the review 

and recordkeeping requirements of rule 

17e–1 is approximately $60,442,200.6

The Commission staff estimates that 

there is no cost burden associated with 

the information collection requirement 

of rule 17e–1 other than this cost. 

Estimates of the average burden hours 

are made solely for the purposes of the 

Paperwork Reduction Act and are not 

derived from a comprehensive or even 

a representative survey or study of the 

costs of Commission rules and forms. 

The collection of information under rule 

17e–1 is mandatory. The information 

provided under rule 17e–1 will not be 

kept confidential. An agency may not 

conduct or sponsor, and a person is not 

required to respond to, a collection of 

information unless it displays a 

currently valid OMB control number. 

The public may view the background 

documentation for this information 

collection at the following website, 

www.reginfo.gov. Comments should be 

directed to: (i) Desk Officer for the 

Securities and Exchange Commission, 

Office of Information and Regulatory 

Affairs, Office of Management and 

Budget, Room 10102, New Executive 

Office Building, Washington, DC 20503, 

or by sending an email to: 

Lindsay.M.Abate@omb.eop.gov; and (ii) 

David Bottom, Director/Chief 

Information Officer, Securities and 

Exchange Commission, c/o John R. 

Pezzullo, 100 F Street NE, Washington, 

DC 20549 or send an email to: PRA_

Mailbox@sec.gov. Written comments 

and recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Dated: January 24, 2022. 

J. Matthew DeLesDernier, 

Assistant Secretary. 

[FR Doc. 2022–01612 Filed 1–26–22; 8:45 am] 

BILLING CODE 8011–01–P 

SMALL BUSINESS ADMINISTRATION 

Reporting and Recordkeeping 

Requirements Under OMB Review 

AGENCY: U.S. Small Business 

Administration. 

ACTION: 30-Day notice; request for 

comments. 

SUMMARY: The Small Business 

Administration will submit the 

information collection described below 

to the Office of Management and Budget 

(OMB) for review and clearance in 

accordance with the Paperwork 

Reduction Act of 1995, on or after the 

date of publication of this notice. SBA 

published the required 60-day public 

comment notice in the Federal Register 

on December 2, 2021, and is publishing 

this notice to allow all interested 

members of the public an additional 30 

days to provide comments on the 

collection of information. 

DATES: Submit comments on or before 

March 2, 2022. 

ADDRESSES: Written comments and 

recommendations for this information 

collection request should be submitted 

through ‘‘www.reginfo.gov/public/do/ 

PRAMain.’’ Find this information 

collection request by selecting ‘‘Small 

Business Administration’’; ‘‘Currently 

Under Review,’’ then selecting ‘‘Only 

Show ICR for Public Comment.’’ This 

information collection can be identified 

by the title and/or OMB Control Number 

identified below. 

FOR FURTHER INFORMATION CONTACT: 

Adrienne Grierson, Program Manager, at 

adrienne.grierson@sba.gov; 202–205– 

6573, or Curtis B. Rich, Management 

Analyst, 202–205–7030; curtis.rich@

sba.gov. 

SUPPLEMENTARY INFORMATION: Section 

1102 of the Coronavirus Aid, Relief, and 

Economic Security (CARES) Act, Public 

Law 116–136, authorized SBA to 

guarantee loans made by banks or other 

financial institutions under a new 

temporary 7(a) program titled the 

‘‘Paycheck Protection Program’’ (‘‘PPP’’) 

to small businesses, certain non-profit 

organizations, veterans’ organizations, 

Tribal business concerns, independent 

contractors and self-employed 

individuals adversely impacted by the 

Coronavirus Disease (COVID–19) 

Emergency. This authority initially 

expired on August 8, 2020. The 

Economic Aid to Hard-Hit Small 

Businesses, Nonprofits, and Venues Act 

(Economic Aid Act), Public Law 116– 

260, renewed SBA’s authority to make 

PPP loans until March 31, 2021, and 

added authority for second draw PPP 

loans under § 7(a)(37) of the Small 

Business Act. The program authority 

was further extended until June 30, 

2021, by the PPP Extension Act of 2021, 

Public Law 117–6. 

This information collection is 

currently approved for the PPP Loan 

Program under the emergency 

procedures authorized by 5 U.S.C. 

3507(j) and 5 CFR 1320.13. This 

approval will expire on January 31, 

2022. Although SBA’s PPP program 

authority has expired, this information 

collection is still needed for the 

following reasons: (1) PPP borrowers 

may apply for forgiveness of their loans 

up to the date of loan maturity, which 

may be as late as 2026; (2) SBA may 


lotter on DSK11XQN23PROD with NOTICES1
Federal Register / Vol. 87, No. 18 / Thursday, January 27, 2022 / Notices 4323 

review a PPP loan at any time; and (3) 

pending litigation may require the 

collection of information. Therefore, as 

required by the Paperwork Reduction 

Act, SBA is publishing this notice as a 

prerequisite to seeking OMB’s approval 

to ensure this information collection is 

available for use beyond January 31, 

2022. As part of that process, SBA is 

requesting comments from the public on 

(a) whether the collection of information 

is necessary for the agency to properly 

perform its functions; (b) whether the 

burden estimates are accurate; (c) 

whether there are ways to minimize the 

burden, including the use of automated 

techniques or other forms of information 

technology; and (d) whether there are 

ways to enhance the quality, utility, and 

clarity of the information. 

Title: Paycheck Protection Loan 

Program Borrower Information Form 

and Lender’s Application for Loan 

Guaranty. 

OMB Control Number: 3245–0407. 

(I) SBA Form 2483—Paycheck 

Protection Program Borrower 

Application Form. 

Description of Respondents: PPP loan 

applicants. 

Estimated Number of Respondents: 

9,279,434. 

Estimated Annual Responses: 

9,279,434. 

Estimated Annual Hour Burden: 

1,237,258. 

(II) SBA Form 2483–C—Paycheck 

Protection Program Borrower 

Application From for Schedule C Filers 

Using Gross Income. 

Description of Respondents: PPP loan 

applicants. 

Estimated Number of Respondents: 

239,160. 

Estimated Annual Responses: 

239,160. 

Estimated Annual Hour Burden: 

31,888. 

(III) SBA Form 2484—Paycheck 

Protection Program Lender’s 

Application—Paycheck Protection 

Program Loan Guaranty. 

Description of Respondents: PPP 

lenders. 

Estimated Number of Respondents: 

5,467. 

Estimated Annual Responses: 

9,218,594. 

Estimated Annual Hour Burden: 

3,841,081. 

(IV) SBA Form 3506—CARES Act 

Section 1102 Lender Agreement. 

Description of Respondents: PPP 

lenders. 

Estimated Number of Respondents: 

775. 

Estimated Annual Responses: 775. 

Estimated Annual Hour Burden: 129. 

(V) SBA Form 3507—CARES Act 

Section 1102 Lender Agreement—NonBank and Non-Insured Depository 

Institution Lenders. 

Description of Respondents: PPP 

lenders. 

Estimated Number of Respondents: 

169. 

Estimated Annual Responses: 169. 

Estimated Annual Hour Burden: 70. 

(VI) SBA Form 3508—Paycheck 

Protection Program—Loan Forgiveness 

Application. 

Description of Respondents: PPP 

borrowers. 

Estimated Number of Respondents: 

591,180. 

Estimated Annual Responses: 

591,180. 

Estimated Annual Hour Burden: 

1,773,539. 

(VII) SBA Form 3508EZ—Paycheck 

Protection Program—PPP Loan 

Forgiveness Application Form EZ. 

Description of Respondents: PPP 

borrowers. 

Estimated Number of Respondents: 

1,773,539. 

Estimated Annual Responses: 

1,773,539. 

Estimated Annual Hour Burden: 

591,180. 

(VIII) SBA Form 3508S, Paycheck 

Protection Program—PPP Loan 

Forgiveness Application Form 3508S. 

Description of Respondents: PPP 

borrowers. 

Estimated Number of Respondents: 

9,458,875. 

Estimated Annual Responses: 

9,458,875. 

Estimated Annual Hour Burden: 

2,364,719. 

(IX) SBA Form 3508D—Paycheck 

Protection Program Borrower’s 

Disclosure of Certain Controlling 

Interests. 

Description of Respondents: PPP 

borrowers. 

Estimated Number of Respondents: 

350. 

Estimated Annual Responses: 350. 

Estimated Annual Hour Burden: 29. 

(X) [Form Number N/A] Lender 

Reporting Requirements Concerning 

Requests for Loan Forgiveness. 

Description of Respondents: PPP 

lenders. 

Estimated Number of Respondents: 

5,467. 

Estimated Annual Responses: 

11,824,000. 

Estimated Annual Hour Burden: 

2,107,121. 

(XI) [Form Number N/A] Lender 

Reporting Requirements for SBA Loan 

Reviews. 

Description of Respondents: PPP 

lenders. 

Estimated Number of Respondents: 

5,467. 

Estimated Annual Responses: 

2,000,000. 

Estimated Annual Hour Burden: 

1,000,000. 

Curtis B. Rich, 

Management Analyst. 

[FR Doc. 2022–01642 Filed 1–26–22; 8:45 am] 

BILLING CODE 8026–03–P 

DEPARTMENT OF STATE 

[Public Notice: 11640] 

Notice of Determinations; Culturally 

Significant Objects Being Imported for 

Exhibition—Determinations: ‘‘Gilardi: 

Tappeto-Natura’’ Exhibition 

SUMMARY: Notice is hereby given of the 

following determinations: I hereby 

determine that certain objects being 

imported from abroad pursuant to 

agreements with their foreign owners or 

custodians for temporary display in the 

exhibition ‘‘Gilardi: Tappeto-Natura’’ at 

the Magazzino Italian Art Foundation, 

Cold Spring, New York, and at possible 

additional exhibitions or venues yet to 

be determined, are of cultural 

significance, and, further, that their 

temporary exhibition or display within 

the United States as aforementioned is 

in the national interest. I have ordered 

that Public Notice of these 

determinations be published in the 

Federal Register. 

FOR FURTHER INFORMATION CONTACT: Chi 

D. Tran, Program Administrator, Office 

of the Legal Adviser, U.S. Department of 

State (telephone: 202–632–6471; email: 

section2459@state.gov). The mailing 

address is U.S. Department of State, 

L/PD, 2200 C Street NW (SA–5), Suite 

5H03, Washington, DC 20522–0505. 

SUPPLEMENTARY INFORMATION: The 

foregoing determinations were made 

pursuant to the authority vested in me 

by the Act of October 19, 1965 (79 Stat. 

985; 22 U.S.C. 2459), E.O. 12047 of 

March 27, 1978, the Foreign Affairs 

Reform and Restructuring Act of 1998 

(112 Stat. 2681, et seq.; 22 U.S.C. 6501 

note, et seq.), Delegation of Authority 

No. 234 of October 1, 1999, Delegation 

of Authority No. 236–3 of August 28, 


lotter on DSK11XQN23PROD with NOTICES1