The Small Business Administration (SBA) is planning to request approval from the Office of Management and Budget (OMB) to revise the information collection process for Form 1086, which relates to secondary market transactions. This request is part of the requirements under the Paperwork Reduction Act (PRA), and the SBA is seeking public comments about the necessity and accuracy of the information collection, as well as ways to minimize its burden. Comments should be submitted by February 18, 2025. The agency is particularly interested in suggestions on enhancing the clarity and utility of the information collected.
Simple Explanation
The Small Business Administration wants people to say what they think about some changes they're planning to make to a form related to buying and selling things, and they hope to make the way they collect this information easier. They need to know if the changes are good or if they make things too hard, and they want people to share their thoughts before February 18, 2025.