[Federal Register Volume 81, Number 127 (Friday, July 1, 2016)]
[Notices]
[Pages 43335-43336]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-15719]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Information Collection; Request for Comments

ACTION: Notice and request for public comment.

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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. Currently, the Community 
Development Financial Institutions Fund (CDFI Fund), U.S. Department of 
the Treasury, is soliciting comments concerning the New Markets Tax 
Credit Program Certified Development Entity CDE Certification 
Application.

DATES: Written comments must be received on or before August 30, 2016 
to be assured of consideration.

ADDRESSES: Submit your comments via email to David Meyer, David Meyer, 
Certification, Compliance Monitoring and Evaluation (CCME) Program 
Manager, CDFI Fund, at [email protected].

FOR FURTHER INFORMATION CONTACT: David Meyer, CCME Program Manager, 
CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue 
NW., Washington, DC 20220 or by facsimile to (202) 653-0375 (not a toll 
free number). Other information regarding the CDFI Fund and its 
programs may be obtained through the CDFI Fund's Web site at http://www.cdfifund.gov.

SUPPLEMENTARY INFORMATION: 
    Title: New Markets Tax Credit Program Certified 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: Renewal of Existing Information Collection.
    Type of Review: Regular Review.
    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 OMB 
approval. All comments will become a matter of public record and may be 
published on the CDFI Fund Web site at http://

[[Page 43336]]

www.cdfifund.gov. Comments are invited on: (a) Whether the collection 
of information is necessary for the proper performance of the functions 
of the CDFI Fund, including whether the information shall have 
practical utility; (b) the accuracy of the CDFI Fund'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 to provide information.

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

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-15719 Filed 6-30-16; 8:45 am]
 BILLING CODE 4810-70-P