[Federal Register Volume 85, Number 38 (Wednesday, February 26, 2020)]
[Notices]
[Pages 11179-11180]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-03878]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Multiple Community Development Financial 
Institutions Fund Information Collection Requests

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before March 27, 2020 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimate, or any other 
aspect of the information collection, including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW, Suite 8100, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

[[Page 11180]]


SUPPLEMENTARY INFORMATION:

Community Development Financial Institutions Fund (CDFI Fund)

    1. Title: Uses of Award Report Form.
    OMB Control Number: 1559-0032.
    Type of Review: Revision of a currently approved collection.
    Description: The Community Development Financial Institutions Fund 
(CDFI Fund) administers the Bank Enterprise Award Program (BEA 
Program), the Community Development Financial Institutions Program 
(CDFI Program), and the Native American CDFI Assistance Program (NACA 
Program). The Uses of Award Report Form is used by Award Recipients of 
the BEA, CDFI, and NACA Programs to report to the CDFI Fund, on the 
uses of their award funds per their Award/Assistance Agreements.
    Form: Uses of Award (UOA) Report.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 470.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 470.
    Estimated Time per Response: 1 hour.
    Estimated Total Annual Burden Hours: 470.
    2. Title: New Markets Tax Credit Program Allocation and Qualified 
Equity Tracking (AQEI) System.
    OMB Control Number: 1559-0024.
    Type of Review: Revision of a currently approved collection.
    Description: The New Markets Tax Credit Program (NMTC Program) was 
established by Congress in 2000 to spur new or increased investments 
into operating businesses and real estate projects located in low-
income communities. The NMTC Program attracts investment capital to 
low-income communities by permitting individual and corporate investors 
to receive a tax credit against their Federal income tax return in 
exchange for making equity investments in specialized financial 
institutions called Community Development Entities (CDEs). Via a 
competitive process, the CDFI Fund awards NMTC allocation awards to 
select CDEs, based upon information submitted in their NMTC Allocation 
Application. Entities receiving an NMTC allocation must enter into an 
allocation agreement with the CDFI Fund. The allocation agreement 
contains the terms and conditions, including all reporting 
requirements, associated with the receipt of a NMTC allocation. The 
CDFI Fund required each Allocatee to use an electronic data collection 
and submission system, known as the Allocation Tracking System (ATS), 
to report on the information related to its receipt of a Qualified 
Equity Investment (QEI). As of May 2018, the ATS function was renamed 
as the NMTC Allocation and Qualified Equity Investment Tracking System 
(AQEI) and moved to the CDFI Fund's Awards Management Information 
System (AMIS), a business system that supports all CDFI Fund programs 
through each phase of the programs' life cycle.
    AQEI enables Allocatees to report information to the CDFI Fund in a 
timely fashion. This information is also used by the Treasury 
Department (including both the CDFI Fund and the Internal Revenue 
Service (IRS)) to: (1) Monitor the issuance of QEIs to ensure that no 
Allocatee exceeds its allocation authority; (2) ensure that QEIs are 
issued within the timeframes required by the NMTC Program regulations 
and the legal agreements signed between the CDFI Fund and the 
Allocatee; and (3) assist with NMTC Program evaluation efforts.
    Form: None.
    Affected Public: Businesses or other for-profits, State, Local, & 
Tribal Governments.
    Estimated Number of Respondents: 156.
    Frequency of Response: On occasion.
    Estimated Total Number of Annual Responses: 1,872.
    Estimated Time per Response: 1 hour 30 minutes.
    Estimated Total Annual Burden Hours: 2,808.
    3. Title: New Markets Tax Credit (NMTC) Program--Community 
Development Entity (CDE) Certification Application.
    OMB Control Number: 1559-0014.
    Type of Review: Revision of a currently approved collection.
    Description: The purpose of the NMTC Program is to provide an 
incentive to investors in the form of a tax credit, which is expected 
to stimulate investment in new private capital in low-income 
communities. In order to qualify for a NMTC Program allocation award 
from the CDFI Fund, an applicant must be certified by the CDFI Fund as 
a Community Development Entity (CDE). The CDE Certification Application 
is used to determine whether an entity seeking CDE certification meets 
the CDFI Fund's requirements for such certification.
    Form: CDFI-0019.
    Affected Public: Businesses or other for-profits.
    Estimated Number of Respondents: 300.
    Frequency of Response: Once.
    Estimated Total Number of Annual Responses: 300.
    Estimated Time per Response: 4 hours.
    Estimated Total Annual Burden Hours: 1,200.

(Authority: 44 U.S.C. 3501 et seq.)

    Dated: February 21, 2020.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2020-03878 Filed 2-25-20; 8:45 am]
BILLING CODE 4810-70-P