Federal Register: November 29, 2000 (Volume 65, Number 230)
DOCID: FR Doc 00-29928
OFFICE OF MANAGEMENT AND BUDGET
Treasury Department
NOTICE: Part III
DOCUMENT ACTION: Notice of Transmittal amending OMB Circular No. A-129, ``Policies for Federal Credit Programs and NonTax Receivables''.
SUBJECT CATEGORY:
Issuance of Transmittal Memorandum Amending OMB Circular No. A- 129, ``Policies for Federal Credit Programs and Non-Tax Receivables''
DOCUMENT SUMMARY:
This Circular updates policies and procedures for justifying, designing, and managing Federal credit programs and for collecting non tax receivables.
SUMMARY:
Office of Management and Budget,
FOR FURTHER INFORMATION CONTACT
Ms. Courtney Timberlake, Office of Management and Budget, Budget and Analysis Branch, NEOB Room 6001, 725 17th Street, NW, Washington, DC 20503, Tel. No. (202) 3957864.
Availability: Copies of the OMB Circular A129, and currently
applicable Transmittal Memoranda may be obtained at the OMB Homepage on
the Internet. The online address (URL) is http://www.whitehouse.gov/OMB circular/index.html#numerical.
Dated: November 16, 2000.
Robert L. Nabors,
Executive Secretary and Assistant Director for Administration.
Policies For Federal Credit Programs and NonTax Receivables Circular No. A129 (Revised)
OMB Circular No. A129 (Revised) Policies for Federal Credit Programs and NonTax Receivables
Table of Contents
General Information
Purpose
Authority
Coverage
Rescissions
Effective Date
Inquiries
Definitions
Appendix A
I. Responsibilities of Departments and Agencies
Office of Management and Budget
Department of the Treasury
Federal Credit Policy Working Group
Departments and Agencies
II. Budget and Legislative Policy for Credit Programs
Program Review
Form of Assistance
Financial Standards
Implementation
III. Credit Management and Extension Policy
A. Credit Extension Policies
Applicant Screening
Loan Documentation
Collateral Requirements
B. Management of Guaranteed Loan Lenders and Servicers
Lender Eligibility
Lender Agreements
Lender and Servicer Reviews
Corrective Actions
IV. Managing the Federal Governments Receivables
Accounting and Financial Reporting
Loan Servicing Requirements
Asset Resolution
V. Delinquent Debt Collection
Standards for Defining Delinquent and Defaulted Debt
Administrative Collection of Debts
Referrals to the Department of Justice
Interest, Penalties and Administrative Cost
Termination of Collection, WriteOff, Use of Currently Not Collectible (CNC), and CloseOut
Attachment AWriteOff CloseOut process flowchart
Appendix B
Checklist for Credit Program Legislation, Testimony, and Budget Submissions
Appendix C
Model Bill Language for Credit Programs
Executive Office of the President, Office of Management and Budget Washington, DC 20503
Circular No. A129
Revised
To the Heads of Executive Departments and Establishments