[Federal Register Volume 71, Number 214 (Monday, November 6, 2006)]
[Notices]
[Page 65034]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E6-18651]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Proposed Collection; Comment Request

ACTION: Notice and request for comments.

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SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
public and other Federal agencies to take this opportunity to comment 
on proposed and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Fund within the Department of the 
Treasury is soliciting comments concerning the NMTC Program allocation 
agreement for NMTC Program allocatees.

DATES: Written comments should be received on or before January 5, 2007 
to be assured of consideration.

ADDRESSES: Direct all comments on the information collections related 
to the specified sections of the NMTC Program Allocation Agreement to: 
Jeffrey C. Berg, Legal Counsel, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 601 13th Street, 
NW., Suite 200 South, Washington, DC 20005, allocationagreementcomments 
@cdfi.treas.gov, Facsimile Number (202) 622-8244.

FOR FURTHER INFORMATION CONTACT: A copy of the allocation agreement 
information collection may be obtained from the Fund's Web site at 
http://www.cdfifund.gov. Requests for additional information regarding 
the specified sections of the NMTC Program Allocation Agreement should 
be directed to Jeffrey C. Berg, Legal Counsel: (i) By mail to: 
Community Development Financial Institutions Fund, U.S. Department of 
the Treasury, 601 13th Street, NW., Suite 200 South, Washington, DC 
20005; (ii) by e-mail to: allocationagreementcomments @cdfi.treas.gov; 
or (iii) by fax to: (202) 622-8244.

SUPPLEMENTARY INFORMATION:
    Title: NMTC Program Allocation Agreement--Disclosure, Audited 
Financial Statements.
    OMB Number: 1559-0023.
    Abstract: In order to qualify for an allocation of tax credits 
under the NMTC Program, an entity must be certified as a qualified 
community development entity and submit an allocation application to 
the Fund. Upon receipt of such applications, the Fund will conduct a 
competitive review process to evaluate applications for the receipt of 
NMTC allocations. Entities receiving an NMTC allocation must enter into 
an allocation agreement with the Fund. The allocation agreement 
contains the terms and conditions associated with the receipt of an 
NMTC allocation. Comments are requested on certain disclosure 
requirements contained in the allocation agreement as well as the 
requirement for the submission of a copy of the allocatee's audited 
financial statements. The specific sections of the allocation agreement 
for which comments are sought may be obtained from the Fund's Web site 
at http://www.cdfifund.gov.
    Current Action: Extension.
    Type of Review: Renewal.
    Affected Public: Businesses or other for-profit institutions; not-
for-profit institutions, and tribal entities.
    Estimated Number of Respondents:
    Allocation Agreement (Sec. Sec.  6.2 and 6.9): 5.
    Allocation Agreement (Sec.  6.10): 62.
    Estimated Annual Time Per Respondent:
    Allocation Agreement (Sec. Sec.  6.2 and 6.9): 2 hours.
    Allocation Agreement (Sec.  6.10): 1 hour.
    Estimated Total Annual Burden Hours:
    Allocation Agreement (Sec. Sec.  6.2 and 6.9): 10 hours.
    Allocation Agreement (Sec.  6.10): 62 hours.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of technology; 
and (e) estimates of capital or start-up costs and costs of operation, 
maintenance, and purchase of services required to provide information.
    Comments are also requested on Sec. Sec.  6.2, 6.5(c), 6.9 and 6.10 
of the NMTC Program Allocation Agreement (please note that there is no 
burden anticipated for Sec.  6.5(c) since this collection of 
information is usual and customary for the respondents).

    Authority: Consolidated Appropriations Act of 2001, Public Law 
106-554; 31 U.S.C. 321.

    Dated: October 31, 2006.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
 [FR Doc. E6-18651 Filed 11-3-06; 8:45 am]
BILLING CODE 4810-70-P