[Federal Register Volume 77, Number 140 (Friday, July 20, 2012)]
[Notices]
[Page 42832]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2012-17718]


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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 U.S. 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 Community Development Financial 
Institutions (CDFI) Fund, a government corporation within the 
Department of the Treasury, is soliciting comments concerning the ``New 
Markets Tax Credit (NMTC) Program--Community Development Entity (CDE) 
Certification Application'' (hereafter, the Application).

DATES: Written comments should be received on or before September 18, 
2012 to be assured of consideration.

ADDRESSES: Direct all comments to Robert Mulderig, Certification, 
Compliance Monitoring, and Evaluation Manager, Community Development 
Financial Institutions Fund, U.S. Department of the Treasury, 1500 
Pennsylvania Avenue NW., Washington, DC 20220, by email to 
[email protected], or by facsimile to (202) 622-7754. Please note 
that this is not a toll-free number.

FOR FURTHER INFORMATION CONTACT: The Application may be obtained from 
the CDFI Fund's Web site at http://www.cdfifund.gov. Requests for 
additional information should be directed to Christopher Stever, 
Associate Program Manager, Community Development Financial Institutions 
Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., 
Washington, DC 20220, by email to [email protected], or by facsimile 
to (202) 622-7754. Please note that this is not a toll-free number.

SUPPLEMENTARY INFORMATION: Title: New Markets Tax Credit (NMTC) 
Program--Community Development Entity (CDE) Certification Application.
    OMB Number: 1559-0014.
    Abstract: Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (the Act), as enacted in the Consolidated 
Appropriations Act, 2001 (Pub. L. 106-554, December 21, 2000), amended 
the Internal Revenue Code (IRC) by adding IRC 45D and created the NMTC 
Program. The Department of the Treasury, through the CDFI Fund, 
administers the NMTC Program, which provides an incentive to investors 
in the form of tax credits over seven years, expected to stimulate the 
provision of private investment capital that, in turn, will facilitate 
economic and community development in low-income communities. In order 
to qualify for an allocation of tax credits through the NMTC Program, 
an entity must be certified as a qualified Community Development Entity 
(CDE) and submit an allocation application to the CDFI Fund. Nonprofit 
entities and for-profit entities may be certified as CDEs by the CDFI 
Fund. In order to be certified as a CDE, an entity must be a domestic 
corporation or partnership, that: (1) Has a primary mission of serving 
or providing investment capital for low-income communities or low-
income persons; and (2) maintains accountability to residents of low-
income communities through their representation on any governing or 
advisory board of the entity.
    Current Actions: Currently receiving and processing CDE 
certification applications.
    Type of review: Extension.
    Affected Public: CDEs and entities seeking CDE certification, 
including business or other for-profit institutions, nonprofit 
entities, and State, local and Tribal entities.
    Estimated Number of Respondents: 300.
    Estimated Annual Time per Respondent: 4 hours.
    Estimated Total Annual Burden Hours: 1,200 hours.

    Requests for Comments: Comments submitted in response to this 
notice will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record and may be published on the CDFI Fund's Web site at 
http://www.cdfifund.gov. Comments are invited on: (1) 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; (2) the accuracy of the agency's estimate of 
the burden of the collection of information; (3) ways to enhance the 
quality, utility, and clarity of the information to be collected; (4) 
ways to minimize the burden of the collection of information on 
respondents, including through the use of technology; and (5) estimates 
of capital or start-up costs and costs of operation, maintenance, and 
purchase of services required to provide information.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number.

    Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D-1.

    Dated: July 17, 2012.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2012-17718 Filed 7-19-12; 8:45 am]
BILLING CODE 4810-70-P