[Federal Register Volume 88, Number 79 (Tuesday, April 25, 2023)]
[Notices]
[Pages 25072-25073]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2023-08669]


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DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Proposed Collection; 
Comment Request; Multiple Community Development Financial Institutions 
Fund (CDFI Fund) Information Collection Requests

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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SUMMARY: The U.S. Department of the Treasury, as part of a 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 (PRA) of 1995. Currently, the Community 
Development Financial Institutions Fund (CDFI Fund), U.S. Department of 
the Treasury, is soliciting comments concerning the Performance 
Progress Report and Financial Statement Audit Report Form, the Uses of 
Award Report Form, and the Allocation and Qualified Equity Investment 
Tracking System.

DATES: Comments should be received on or before May 25, 2023 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

SUPPLEMENTARY INFORMATION: 

Community Development Financial Institutions (CDFI)

    1. Title: Performance Progress Report and Financial Statement Audit 
Report Form.
    OMB Number: 1559-0050.
    Abstract: Recipients of the Community Development Financial 
Institutions Program (CDFI Program), the CDFI Rapid Response Program 
(CDFI RRP), the Native American CDFI Assistance Program (NACA Program), 
and the Small Dollar Loan Program (SDL Program) submit the Performance 
Progress Report via the CDFI Fund's AMIS once a year, three (3) months 
after their Period of Performance end date or fiscal year end. 
Recipients and Allocatees of the CDFI Program, CDFI RRP, NACA Program, 
CMF, NMTC Program, and SDL Program also submit the Financial Statement 
Audit Report

[[Page 25073]]

via the CDFI Fund's AMIS once a year, six (6) months after their Period 
of Performance end date or fiscal year end. Recipients respond to the 
questions below by providing numerical figures, ``yes'' or ``no'' 
answers, or narrative responses, as appropriate. These reports are used 
to determine Recipient compliance with their Assistance Agreement. 
There are no significant content changes to the forms, however minor, 
non-substantive modifications were made to the Performance Progress 
Report to include changes resulting from the implementation of new 
programs and modifications to existing Assistance Agreements.
    Current Actions: Extension without change of currently approved 
collection.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit institutions, non-
profit entities, and State, local and Tribal entities participating in 
the CDFI Fund programs.
    Estimated Number of Respondents: 1,902.
    Frequency of Responses: Annually.
    Estimated Total Number of Annual Responses: 1,902.
    Estimated Annual Time per Respondent: 45 min.
    Estimated Total Annual Burden Hours: 1,426.5 hours.
    2. Title: Uses of Award Report Form.
    OMB Number: 1559-0032.
    Abstract: Recipients of the Bank Enterprise Award Program (BEA 
Program), the Community Development Financial Institutions Program 
(CDFI Program), the CDFI Rapid Response Program (CDFI RRP), the Native 
American CDFI Assistance Program (NACA Program), and the Small Dollar 
Loan Program (SDL Program) submit the Uses of Award Report via the CDFI 
Fund's AMIS once a year, three (3) months after their Period of 
Performance (BEA Program) end date or fiscal year end (CDFI, CDFI RRP, 
NACA and SDL Programs). Recipients respond to the questions below by 
providing numerical figures, ``yes'' or ``no'' answers, or narrative 
responses, as appropriate. This report is used to determine Recipient 
compliance with the applicable performance goals in their Award or 
Assistance Agreement, and to demonstrate how award funds are expended. 
There is no significant content change to the form, however minor, non-
substantive modifications were made to the Uses of Award Report to 
include changes resulting from the implementation of new programs and 
modifications to existing Award and Assistance Agreements.
    Current Actions: Extension without change of currently approved 
collection.
    Type of Review: Regular.
    Affected Public: Businesses or other for-profit institutions, non-
profit entities, and State, local and Tribal entities participating in 
the CDFI Fund programs.
    Estimated Number of Respondents: 1,902.
    Frequency of Responses: Annually.
    Estimated Total Number of Annual Responses: 1,902.
    Estimated Annual Time per Respondent: 45 min.
    Estimated Total Annual Burden Hours: 1,426.5 hours.
    3. Title: Allocation and Qualified Equity Investment Tracking 
System.
    OMB Number: 1559-0024.
    Abstract: Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (the Act), as enacted by section 1(a)(7) of the 
Consolidated Appropriations Act, 2001 (Pub. L. 106-554, December 21, 
2000), amended the Internal Revenue Code (IRC) by adding IRC sec. 45D, 
New Markets Tax Credit. Pursuant to IRC sec. 45D, 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 and stimulates the provision of private investment capital 
that, in turn, facilitates economic and community development in low-
income communities. In order to qualify for an allocation of NMTC 
Program authority, an entity must be certified as a qualified Community 
Development Entity and submit an allocation application to the CDFI 
Fund. Upon receipt of such applications, the CDFI Fund conducts a 
competitive review process to evaluate applications for the receipt of 
NMTC Program allocations. Entities selected to receive an NMTC Program 
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 
Program allocation. The CDFI Fund requires each Allocatee to use an 
electronic data collection and submission system, known as the 
Allocation and Qualified Equity Investment Tracking System (AQEI), to 
report on the information related to its receipt of a Qualified Equity 
Investment. The CDFI Fund developed the AQEI to, among other things: 
(1) enhance the Allocatee's ability to report to the CDFI Fund timely 
information regarding the issuance of its Qualified Equity Investments; 
(2) enhance the CDFI Fund's ability to monitor the issuance of 
Qualified Equity Investments to ensure that no Allocatee exceeds its 
allocation authority and to ensure that Qualified Equity Investments 
are issued within the timeframes required by the Allocation Agreement 
and IRC Sec.  45D; (3) provide the CDFI Fund with basic investor data 
that can be aggregated and analyzed in connection with NMTC Program 
evaluation efforts; and (4) provide the CDFI Fund with information 
about the status of Qualified Active Low-Income Community Businesses 
and Qualified Low-Income Community Investments at the end to the tax 
credit compliance period.
    Current Actions: Renewal of Existing Information Collection.
    Type of Review: Regular.
    Affected Public: NMTC Program Allocatees.
    Estimated Number of Respondents: 104.
    Frequency of Responses: Annually.
    Estimated Total Number of Annual Responses: 104.
    Estimated Total Hours per Response: 1.7 hours.
    Estimated Total Annual Burden Hours: 2,080 hours.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2023-08669 Filed 4-24-23; 8:45 am]
BILLING CODE 4810-70-P