[Federal Register Volume 78, Number 166 (Tuesday, August 27, 2013)]
[Notices]
[Pages 53005-53007]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2013-20891]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Proposed Data Collection; Comment Request: Community Development 
Financial Institutions Fund: Comment Request on Continuing Data 
Collection Through the Community Investment Impact System (CIIS) of 
Information From Community Development Financial Institutions Program 
Awardees, Native American CDFI Assistance Program Awardees, and New 
Markets Tax Credit Program Allocatees

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 continuing information collections through CIIS, as required by the 
Paperwork Reduction Act of 1995, 44 U.S.C. 3506(c)(2)(A). Currently, 
the Community Development Financial Institutions (CDFI) Fund, 
Department of the Treasury, is soliciting comments concerning the 
Community Development Financial Institutions FundAwardee/Allocatee 
Annual Report (OMB Number 1559-0027), comprising the Institution Level 
Report (ILR) and the Transaction Level Report (TLR). The two documents 
comprise certain reporting requirements for participants in the CDFI 
Program, the Native American CDFI Assistance (NACA) Program, and the 
New Markets Tax Credits (NMTC) Program. The Annual Report forms (and 
related documents, including the CDFI Program assistance agreement, the 
NACA Program assistance agreement, and the NMTC Program allocation 
agreement) may be found at the CDFI Fund's Web site at 
www.cdfifund.gov.

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DATES: Written comments must be received on or before October 28, 2013 
to be assured of consideration.

ADDRESSES: All comments on the Annual CIIS Report must be submitted in 
writing and sent to Greg Bischak, Program Manager for Financial 
Strategies and Research, Community Development Financial Institutions 
Fund, U.S. Department of the Treasury, 1500 Pennsylvania Ave. NW., 
Washington, DC 20220, by email to [email protected], or by 
facsimile to (202) 508-0083. Please note this is not a toll free 
number.

FOR FURTHER INFORMATION CONTACT: Greg Bischak, Program Manager for 
Financial Strategies and Research, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania 
Ave. NW., Washington, DC 20220, by email to [email protected], or 
by facsimile to (202) 508-0083. Please note this is not a toll free 
number.

SUPPLEMENTARY INFORMATION: 
    Title: Comment Request on Continuing Collection of Information from 
Community Development Financial Institutions Program Awardees, Native 
American CDFI Assistance Program Awardees, and New Markets Tax Credit 
Program Allocatees.
    OMB Number: 1559-0027.
    Abstract: The mission of the CDFI Fund is to expand the capacity of 
financial institutions to provide credit, capital and financial 
services to underserved populations and communities in the United 
States. The CDFI Fund's strategic goal is to improve the economic 
conditions of underserved communities by providing capital and 
technical assistance to CDFIs, capital to insured depository 
institutions, and NMTC allocations to Community Development Entities 
(CDEs), which provide credit, capital, financial services, and 
development services to these markets. The CDFI Fund certifies entities 
as CDFIs and/or CDEs.
    Annual Reporting Requirements: The Annual Report consists of 
quantitative information at the institution and transaction levels for 
CDFIs and CDEs and is used to assess: (1) The awardee's/allocatee's 
activities as detailed in its application materials; (2) the awardee's/
allocatee's approved use of the assistance; (3) the awardee's/
allocatee's financial condition; (4) the socio-economic characteristics 
of awardee's/allocatee's borrowers/investees, loan and investment 
terms, repayment status, and community development outcomes; and (5) 
overall compliance with the terms and conditions of the assistance/
allocation agreement entered into by the CDFI Fund and the awardee/
allocatee.
    A CDFI Program awardee or a NACA Program awardee must submit an 
Annual Report that comprises several sections, depending on the program 
and the type of award. The specific components that comprise an 
awardee's Annual Report are set forth in the assistance agreement that 
the awardee enters into with the CDFI Fund in order to receive a CDFI 
Program or a NACA Program award. In summary:
    1. A CDFI Program or NACA/NATA Program awardee that is a non-
regulated entity and that receives Financial Assistance (FA) only must 
submit an Annual Report that comprises: (i) A Financial Report 
(Financial Statement) reviewed or audited by an independent certified 
public accountant; (ii) Single Audit A-133 (if applicable); (iii) an 
Institution Level Report (ILR) and a Transaction Level Report (TLR) 
(which include, among others, questions that measure the awardee's 
achievement of the Performance Goals and Measures set forth in its 
assistance agreement); (iv) a Uses of Financial Assistance and Matching 
Funds Report; and (v) an Explanation of Noncompliance (if applicable).
    2. A CDFI Program or NACA Program awardee that is a regulated 
entity and that receives FA only must submit an Annual Report that 
comprises: (i) An ILR and a TLR; (ii) a Uses of Financial Assistance 
and Matching Funds Report; (iii) an Explanation of Noncompliance (if 
applicable); and (iv) a Single Audit A-133 (if applicable).
    3. A CDFI Program or NACA Program awardee that receives an award 
from the CDFI Fund that is in the form of an equity investment must 
also submit a Shareholder Report.
    4. A CDFI Program or NACA Program awardee that receives Technical 
Assistance (TA) must submit an Annual Report that comprises: (i) The 
documents set forth in either (1) or (2) above, as applicable, if the 
awardee also receives FA; (ii) Uses of Technical Assistance Report; and 
(iii) OMB form 269A (Financial Status Report), which can be found on 
the Web site at www.cdfifund.gov.
    A NMTC Program allocatee must submit an Annual Report that 
comprises: (i) A financial statement that has been audited by an 
independent certified public accountant; (ii) an ILR (including the IRS 
Compliance Questions section), if the allocatee has issued any 
Qualified Equity Investments; and (iii) a TLR if the allocatee has 
issued any Qualified Low-Income Community Investments in the form of 
loans or investments. The components that comprise an allocatee's 
Annual Report are set forth in the allocation agreement that the 
allocatee enters into with the CDFI Fund in order to receive a NMTC 
Program allocation.
    Current Action: Extension.
    Type of review: Renewal Annual Report, OMB 1559-0027.
    Affected Public: Not-for-profit institutions, businesses or other 
for-profit institutions and tribal entities.
CDFI Awardees/NMTC Allocatees Estimated Burden
Estimated Number of Annual Respondents:
     CDFI Annual ILR only: 107 (TA 66, FA 41)
     CDFI Annual TLR and ILR: 245
     NMTC Annual Report: 303
Burden per Report Type:
     CDFI Program TA awardees Estimated Time Burden: 22 hours
     CDFI Program FA ILR only awardees Estimated Time Burden: 
32 hours
     CDFI Program FA TLR/ILR awardees Estimated Time Burden: 
100 hours
     NMTC Program allocatees Estimated Time Burden: 65 hours
Total Estimated Burden per Reporting Type:
     CDFI Program TA reports: 1,452 hours
     CDFI Program FA ILR only reports: 1,312 hours
     CDFI Program FA TLR/ILR reports: 24,500 hours
     NMTC Program CDE reports: 19,695 hours
Estimated Total Annual Burden Hours = 46,959 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 
all aspects of the information collections, but commentators may wish 
to focus particular attention on: (a) The cost for CDFIs and CDEs to 
operate and maintain the services/systems required to provide the 
required information; (b) ways to enhance the quality, utility, and 
clarity of the information to be collected; (c) whether the collection 
of information is necessary for the proper evaluation of the 
effectiveness and impact of the CDFI Fund's programs, including whether 
the information shall have practical utility; (d) the accuracy of the 
CDFI Fund's estimate of the burden of the collection of information; 
(e) ways to minimize the burden of the collection of information 
including through the use of technology, such as software for internal 
accounting and geocoding to

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capture geographic detail while streamlining and aggregating TLR 
reporting for upload to CIIS, and; (f) what methods might be used to 
improve the data quality, internal accounting and efficiency of 
reporting transactions for serving other targeted populations.

    Authority: 12 U.S.C. 4707 et seq.; 26 U.S.C. 45D; 12 CFR part 
1805.

    Dated: August 22, 2013.
Dawn D. Wolfgang,
Treasury PRA Clearance Officer.
[FR Doc. 2013-20891 Filed 8-26-13; 8:45 am]
BILLING CODE 4810-70-P