80_FR_78991 80 FR 78749 - Statutorily Mandated Designation of Difficult Development Areas and Qualified Census Tracts: Revision of Effective Date for 2015 Designations

80 FR 78749 - Statutorily Mandated Designation of Difficult Development Areas and Qualified Census Tracts: Revision of Effective Date for 2015 Designations

DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

Federal Register Volume 80, Issue 242 (December 17, 2015)

Page Range78749-78751
FR Document2015-31766

This document revises the effective date for designations of ``Difficult Development Areas'' (DDAs) and ``Qualified Census Tracts'' (QCTs) for purposes of the Low-Income Housing Tax Credit (LIHTC) under Internal Revenue Code (IRC) Section 42 (26 U.S.C. 42) published on October 3, 2014 (79 FR 59855). This Notice extends from 365 days to 730 days the period for which the 2015 lists of QCTs and DDAs are effective for projects located in areas not on the 2016 list of DDAs or QCTs, published November 24, 2015, at 80 FR 73201, but having submitted applications while the area was a 2015 QCT or DDA.

Federal Register, Volume 80 Issue 242 (Thursday, December 17, 2015)
[Federal Register Volume 80, Number 242 (Thursday, December 17, 2015)]
[Notices]
[Pages 78749-78751]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2015-31766]


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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

[Docket No. FR-5815-N-02]


Statutorily Mandated Designation of Difficult Development Areas 
and Qualified Census Tracts: Revision of Effective Date for 2015 
Designations

AGENCY: Office of the Assistant Secretary for Policy Development and 
Research, HUD.

ACTION: Notice.

-----------------------------------------------------------------------

SUMMARY: This document revises the effective date for designations of 
``Difficult Development Areas'' (DDAs) and ``Qualified Census Tracts'' 
(QCTs) for purposes of the Low-Income Housing Tax Credit (LIHTC) under 
Internal Revenue Code (IRC) Section 42 (26 U.S.C. 42) published on 
October 3, 2014 (79 FR 59855). This Notice extends from 365 days to 730 
days the period for which the 2015 lists of QCTs and DDAs are effective 
for projects located in areas not on the 2016 list of DDAs or QCTs, 
published November 24, 2015, at 80 FR 73201, but having submitted 
applications while the area was a 2015 QCT or DDA.

FOR FURTHER INFORMATION CONTACT: For questions on how areas are 
designated and on geographic definitions, contact Michael K. Hollar, 
Senior Economist, Economic Development and Public Finance Division, 
Office of Policy Development and Research, Department of Housing and 
Urban Development, 451 Seventh Street SW., Room 8234, Washington, DC 
20410-6000; telephone number (202) 402-5878, or send an email to 
Michael.K.Hollar@hud.gov. For specific legal questions pertaining to 
Section 42, contact Branch 5, Office of the Associate Chief Counsel, 
Passthroughs and Special Industries, Internal Revenue Service, 1111 
Constitution Avenue NW., Washington, DC 20224; telephone number (202) 
317-4137, fax number (202) 317-6731. For questions about the ``HUB 
Zone'' program, contact Mariana Pardo, Director, HUBZone Program, 
Office of Government Contracting and Business Development, U.S. Small 
Business Administration, 409 Third Street SW., Suite 8800, Washington, 
DC 20416; telephone number (202) 205-2985, fax number (202) 481-6443, 
or send an email to hubzone@sba.gov. A text telephone is available for 
persons with hearing or speech impairments at 800-877-8339. (These are 
not toll-free telephone numbers.) Additional copies of this notice are 
available through HUD User at 800-245-2691 for a small fee to cover 
duplication and mailing costs.
    Copies Available Electronically: This notice and additional 
information about DDAs and QCTs are available electronically on the 
Internet at http://www.huduser.org/datasets/qct.html.

SUPPLEMENTARY INFORMATION:

This Document

    This notice extends from 365 days to 730 days the period for which 
the 2015 lists of QCTs and DDAs are effective for projects located in 
areas not on the 2016 list of DDAs or QCTs, published November 24, 
2015, at 80 FR 73201, but having submitted applications while the area 
was a 2015 QCT or DDA for each of the 50 states, the District of 
Columbia, Puerto Rico, American Samoa, Guam, the Northern Mariana 
Islands, and the U.S. Virgin Islands. The actual designations of 2015 
QCTs and DDAs are not affected by this notice. HUD is revising the 
effective date of the 2015 QCTs and DDAs at this time to aid the 
transition to Small Difficult Development Areas as announced in a 
notice designating 2016 QCTs and DDAs published at 80 FR 73201 and 
otherwise ensure that LIHTC and bond-financed projects relying on 2015 
QCT or DDA designations and not in areas designated as 2016 QCTs and 
DDAs, but unable to meet the 365-day requirement of the original 
effective date of the 2015 QCT and DDA designations, may still be 
completed within 730 days.
    The sections entitled ``Effective Date'' and ``Interpretive 
Examples of Effective Date'' of the 2015 DDA and QCT designations as 
published October 3, 2014 at 79 FR 59855 are hereby revised to read as 
follows:

Effective Date

    The 2015 lists of QCTs and DDAs are effective:
    (1) For allocations of credit after December 31, 2014; or
    (2) for purposes of IRC Section 42(h)(4), if the bonds are issued 
and the building is placed in service after December 31, 2014.
    If an area is not on a subsequent list of DDAs, the 2015 lists are 
effective for the area if:
    (1) The allocation of credit to an applicant is made no later than 
the end of the 730-day period after the applicant submits a complete 
application to the LIHTC-allocating agency, and the submission is made 
before the effective date of the subsequent lists; or
    (2) for purposes of IRC Section 42(h)(4), if:
    (a) The bonds are issued or the building is placed in service no 
later than the end of the 730-day period after the applicant submits a 
complete application to the bond-issuing agency, and
    (b) the submission is made before the effective date of the 
subsequent lists, provided that both the issuance of the bonds and the 
placement in service of the building occur after the application is 
submitted.
    An application is deemed to be submitted on the date it is filed if 
the application is determined to be complete by the credit-allocating 
or bond-issuing agency. A ``complete application'' means that no more 
than de minimis clarification of the application is required for the 
agency to make a decision about the allocation of tax credits or 
issuance of bonds requested in the application.
    In the case of a ``multiphase project,'' the DDA or QCT status of 
the site of the project that applies for all phases of the project is 
that which applied when the project received its first allocation of 
LIHTC. For purposes of IRC Section 42(h)(4), the DDA or QCT status of 
the site of the project that applies for all phases of the project is 
that which applied when the first of the following occurred: (a) The 
building(s) in the first phase were placed in service, or (b) the bonds 
were issued.
    For purposes of this notice, a ``multiphase project'' is defined as 
a set of buildings to be constructed or rehabilitated under the rules 
of the LIHTC and meeting the following criteria:
    (1) The multiphase composition of the project (i.e., total number 
of buildings and phases in project, with a description of how many 
buildings are to be built in each phase and when each phase is to be 
completed, and any other information required by the agency) is made 
known by the applicant in the first application of credit for any 
building in the project, and that applicant identifies the buildings in 
the project for which credit is (or will be) sought;

[[Page 78750]]

    (2) The aggregate amount of LIHTC applied for on behalf of, or that 
would eventually be allocated to, the buildings on the site exceeds the 
one-year limitation on credits per applicant, as defined in the 
Qualified Allocation Plan (QAP) of the LIHTC-allocating agency, or the 
annual per-capita credit authority of the LIHTC allocating agency, and 
is the reason the applicant must request multiple allocations over 2 or 
more years; and
    (3) All applications for LIHTC for buildings on the site are made 
in immediately consecutive years.
    Members of the public are hereby reminded that the Secretary of 
Housing and Urban Development, or the Secretary's designee, has legal 
authority to designate DDAs and QCTs, by publishing lists of geographic 
entities as defined by, in the case of DDAs, the Census Bureau, the 
several states and the governments of the insular areas of the United 
States and, in the case of QCTs, by the Census Bureau; and to establish 
the effective dates of such lists. The Secretary of the Treasury, 
through the IRS thereof, has sole legal authority to interpret, and to 
determine and enforce compliance with the IRC and associated 
regulations, including Federal Register notices published by HUD for 
purposes of designating DDAs and QCTs. Representations made by any 
other entity as to the content of HUD notices designating DDAs and QCTs 
that do not precisely match the language published by HUD should not be 
relied upon by taxpayers in determining what actions are necessary to 
comply with HUD notices.

Interpretive Examples of Effective Date

    For the convenience of readers of this notice, interpretive 
examples are provided below to illustrate the consequences of the 
effective date in areas that gain or lose DDA status. The examples 
covering DDAs are equally applicable to QCT designations.
    (Case A) Project A is located in a 2015 DDA that is NOT a 
designated DDA in 2016 or 2017. A complete application for tax credits 
for Project A is filed with the allocating agency on November 15, 2015. 
Credits are allocated to Project A on October 30, 2017. Project A is 
eligible for the increase in basis accorded a project in a 2015 DDA 
because the application was filed BEFORE January 1, 2016 (the effective 
date for the 2016 DDA lists), and because tax credits were allocated no 
later than the end of the 730-day period after the filing of the 
complete application for an allocation of tax credits.
    (Case B) Project B is located in a 2015 DDA that is NOT a 
designated DDA in 2016, 2017, or 2018. A complete application for tax 
credits for Project B is filed with the allocating agency on December 
1, 2015. Credits are allocated to Project B on March 30, 2018. Project 
B is NOT eligible for the increase in basis accorded a project in a 
2015 DDA because, although the application for an allocation of tax 
credits was filed BEFORE January 1, 2016 (the effective date of the 
2016 DDA lists), the tax credits were allocated later than the end of 
the 730-day period after the filing of the complete application.
    (Case C) Project C is located in a 2015 DDA that was not a DDA in 
2014. Project C was placed in service on November 15, 2014. A complete 
application for tax-exempt bond financing for Project C is filed with 
the bond-issuing agency on January 15, 2015. The bonds that will 
support the permanent financing of Project C are issued on September 
30, 2015. Project C is NOT eligible for the increase in basis otherwise 
accorded a project in a 2015 DDA, because the project was placed in 
service BEFORE January 1, 2015.
    (Case D) Project D is located in an area that is a DDA in 2015, but 
is NOT a DDA in 2016, 2017, or 2018. A complete application for tax-
exempt bond financing for Project D is filed with the bond-issuing 
agency on October 30, 2015. Bonds are issued for Project D on April 30, 
2017, but Project D is not placed in service until January 30, 2018. 
Project D is eligible for the increase in basis available to projects 
located in 2015 DDAs because: (1) One of the two events necessary for 
triggering the effective date for buildings described in Section 
42(h)(4)(B) of the IRC (the two events being bonds issued and buildings 
placed in service) took place on April 30, 2017, within the 730-day 
period after a complete application for tax-exempt bond financing was 
filed, (2) the application was filed during a time when the location of 
Project D was in a DDA, and (3) both the issuance of the bonds and 
placement in service of Project D occurred after the application was 
submitted.
    (Case E) Project E is a multiphase project located in a 2015 DDA 
that is NOT a designated DDA in 2016. The first phase of Project E 
received an allocation of credits in 2015, pursuant to an application 
filed March 15, 2015, which describes the multiphase composition of the 
project. An application for tax credits for the second phase Project E 
is filed with the allocating agency by the same entity on March 15, 
2016. The second phase of Project E is located on a contiguous site. 
Credits are allocated to the second phase of Project E on October 30, 
2016. The aggregate amount of credits allocated to the two phases of 
Project E exceeds the amount of credits that may be allocated to an 
applicant in one year under the allocating agency's QAP and is the 
reason that applications were made in multiple phases. The second phase 
of Project E is, therefore, eligible for the increase in basis accorded 
a project in a 2015 DDA, because it meets all of the conditions to be a 
part of a multiphase project.
    (Case F) Project F is a multiphase project located in a 2015 DDA 
that is NOT a designated DDA in 2016. The first phase of Project F 
received an allocation of credits in 2015, pursuant to an application 
filed March 15, 2015, which does not describe the multiphase 
composition of the project. An application for tax credits for the 
second phase of Project F is filed with the allocating agency by the 
same entity on March 15, 2017. Credits are allocated to the second 
phase of Project F on October 30, 2017. The aggregate amount of credits 
allocated to the two phases of Project F exceeds the amount of credits 
that may be allocated to an applicant in one year under the allocating 
agency's QAP. The second phase of Project F is, therefore, NOT eligible 
for the increase in basis accorded a project in a 2015 DDA, since it 
does not meet all of the conditions for a multiphase project, as 
defined in this notice. The original application for credits for the 
first phase did not describe the multiphase composition of the project. 
Also, the application for credits for the second phase of Project F was 
not made in the year immediately following the first phase application 
year.

Findings and Certifications

Environmental Impact

    This notice involves the establishment of fiscal requirements or 
procedures that are related to rate and cost determinations and do not 
constitute a development decision affecting the physical condition of 
specific project areas or building sites. Accordingly, under 40 CFR 
1508.4 of the regulations of the Council on Environmental Quality and 
24 CFR 50.19(c)(6) of HUD's regulations, this notice is categorically 
excluded from environmental review under the National Environmental 
Policy Act of 1969 (42 U.S.C. 4321).

Federalism Impact

    Executive Order 13132 (entitled ``Federalism'') prohibits an agency 
from publishing any policy document that

[[Page 78751]]

has federalism implications if the document either imposes substantial 
direct compliance costs on state and local governments and is not 
required by statute, or the document preempts state law, unless the 
agency meets the consultation and funding requirements of section 6 of 
the executive order. This notice merely designates DDAs as required 
under IRC Section 42, as amended, for the use by political subdivisions 
of the states in allocating the LIHTC. This notice also details the 
technical method used in making such designations. As a result, this 
notice is not subject to review under the order.

    Dated: December 10, 2015.
Katherine M. O'Regan,
Assistant Secretary for Policy Development and Research.
[FR Doc. 2015-31766 Filed 12-16-15; 8:45 am]
 BILLING CODE 4210-67-P



                                                                              Federal Register / Vol. 80, No. 242 / Thursday, December 17, 2015 / Notices                                            78749

                                                      HRSA specifically requests comments                   4137, fax number (202) 317–6731. For                  building is placed in service after
                                                    on (1) the necessity and utility of the                 questions about the ‘‘HUB Zone’’                      December 31, 2014.
                                                    proposed information collection for the                 program, contact Mariana Pardo,                          If an area is not on a subsequent list
                                                    proper performance of the agency’s                      Director, HUBZone Program, Office of                  of DDAs, the 2015 lists are effective for
                                                    functions, (2) the accuracy of the                      Government Contracting and Business                   the area if:
                                                    estimated burden, (3) ways to enhance                   Development, U.S. Small Business                         (1) The allocation of credit to an
                                                    the quality, utility, and clarity of the                Administration, 409 Third Street SW.,                 applicant is made no later than the end
                                                    information to be collected, and (4) the                Suite 8800, Washington, DC 20416;                     of the 730-day period after the applicant
                                                    use of automated collection techniques                  telephone number (202) 205–2985, fax                  submits a complete application to the
                                                    or other forms of information                           number (202) 481–6443, or send an                     LIHTC-allocating agency, and the
                                                    technology to minimize the information                  email to hubzone@sba.gov. A text                      submission is made before the effective
                                                    collection burden.                                      telephone is available for persons with               date of the subsequent lists; or
                                                                                                            hearing or speech impairments at 800–                    (2) for purposes of IRC Section
                                                    Jackie Painter,                                                                                               42(h)(4), if:
                                                                                                            877–8339. (These are not toll-free
                                                    Director, Division of the Executive Secretariat.                                                                 (a) The bonds are issued or the
                                                                                                            telephone numbers.) Additional copies
                                                    [FR Doc. 2015–31641 Filed 12–16–15; 8:45 am]
                                                                                                            of this notice are available through HUD              building is placed in service no later
                                                    BILLING CODE 4165–15–P
                                                                                                            User at 800–245–2691 for a small fee to               than the end of the 730-day period after
                                                                                                            cover duplication and mailing costs.                  the applicant submits a complete
                                                                                                               Copies Available Electronically: This              application to the bond-issuing agency,
                                                    DEPARTMENT OF HOUSING AND                               notice and additional information about               and
                                                    URBAN DEVELOPMENT                                                                                                (b) the submission is made before the
                                                                                                            DDAs and QCTs are available
                                                                                                                                                                  effective date of the subsequent lists,
                                                    [Docket No. FR–5815–N–02]                               electronically on the Internet at http://
                                                                                                                                                                  provided that both the issuance of the
                                                                                                            www.huduser.org/datasets/qct.html.
                                                    Statutorily Mandated Designation of                                                                           bonds and the placement in service of
                                                                                                            SUPPLEMENTARY INFORMATION:                            the building occur after the application
                                                    Difficult Development Areas and
                                                    Qualified Census Tracts: Revision of                    This Document                                         is submitted.
                                                    Effective Date for 2015 Designations                                                                             An application is deemed to be
                                                                                                               This notice extends from 365 days to               submitted on the date it is filed if the
                                                    AGENCY:  Office of the Assistant                        730 days the period for which the 2015                application is determined to be
                                                    Secretary for Policy Development and                    lists of QCTs and DDAs are effective for              complete by the credit-allocating or
                                                    Research, HUD.                                          projects located in areas not on the 2016             bond-issuing agency. A ‘‘complete
                                                    ACTION: Notice.                                         list of DDAs or QCTs, published                       application’’ means that no more than
                                                                                                            November 24, 2015, at 80 FR 73201, but                de minimis clarification of the
                                                    SUMMARY:    This document revises the                   having submitted applications while the               application is required for the agency to
                                                    effective date for designations of                      area was a 2015 QCT or DDA for each                   make a decision about the allocation of
                                                    ‘‘Difficult Development Areas’’ (DDAs)                  of the 50 states, the District of Columbia,           tax credits or issuance of bonds
                                                    and ‘‘Qualified Census Tracts’’ (QCTs)                  Puerto Rico, American Samoa, Guam,                    requested in the application.
                                                    for purposes of the Low-Income                          the Northern Mariana Islands, and the                    In the case of a ‘‘multiphase project,’’
                                                    Housing Tax Credit (LIHTC) under                        U.S. Virgin Islands. The actual                       the DDA or QCT status of the site of the
                                                    Internal Revenue Code (IRC) Section 42                  designations of 2015 QCTs and DDAs                    project that applies for all phases of the
                                                    (26 U.S.C. 42) published on October 3,                  are not affected by this notice. HUD is               project is that which applied when the
                                                    2014 (79 FR 59855). This Notice extends                 revising the effective date of the 2015               project received its first allocation of
                                                    from 365 days to 730 days the period for                QCTs and DDAs at this time to aid the                 LIHTC. For purposes of IRC Section
                                                    which the 2015 lists of QCTs and DDAs                   transition to Small Difficult                         42(h)(4), the DDA or QCT status of the
                                                    are effective for projects located in areas             Development Areas as announced in a                   site of the project that applies for all
                                                    not on the 2016 list of DDAs or QCTs,                   notice designating 2016 QCTs and DDAs                 phases of the project is that which
                                                    published November 24, 2015, at 80 FR                   published at 80 FR 73201 and otherwise                applied when the first of the following
                                                    73201, but having submitted                             ensure that LIHTC and bond-financed                   occurred: (a) The building(s) in the first
                                                    applications while the area was a 2015                  projects relying on 2015 QCT or DDA                   phase were placed in service, or (b) the
                                                    QCT or DDA.                                             designations and not in areas designated              bonds were issued.
                                                    FOR FURTHER INFORMATION CONTACT: For                    as 2016 QCTs and DDAs, but unable to                     For purposes of this notice, a
                                                    questions on how areas are designated                   meet the 365-day requirement of the                   ‘‘multiphase project’’ is defined as a set
                                                    and on geographic definitions, contact                  original effective date of the 2015 QCT               of buildings to be constructed or
                                                    Michael K. Hollar, Senior Economist,                    and DDA designations, may still be                    rehabilitated under the rules of the
                                                    Economic Development and Public                         completed within 730 days.                            LIHTC and meeting the following
                                                    Finance Division, Office of Policy                         The sections entitled ‘‘Effective Date’’           criteria:
                                                    Development and Research, Department                    and ‘‘Interpretive Examples of Effective                 (1) The multiphase composition of the
                                                    of Housing and Urban Development,                       Date’’ of the 2015 DDA and QCT                        project (i.e., total number of buildings
                                                    451 Seventh Street SW., Room 8234,                      designations as published October 3,                  and phases in project, with a
                                                    Washington, DC 20410–6000; telephone                    2014 at 79 FR 59855 are hereby revised                description of how many buildings are
                                                    number (202) 402–5878, or send an                       to read as follows:                                   to be built in each phase and when each
asabaliauskas on DSK5VPTVN1PROD with NOTICES




                                                    email to Michael.K.Hollar@hud.gov. For                                                                        phase is to be completed, and any other
                                                                                                            Effective Date
                                                    specific legal questions pertaining to                                                                        information required by the agency) is
                                                    Section 42, contact Branch 5, Office of                    The 2015 lists of QCTs and DDAs are                made known by the applicant in the
                                                    the Associate Chief Counsel,                            effective:                                            first application of credit for any
                                                    Passthroughs and Special Industries,                       (1) For allocations of credit after                building in the project, and that
                                                    Internal Revenue Service, 1111                          December 31, 2014; or                                 applicant identifies the buildings in the
                                                    Constitution Avenue NW., Washington,                       (2) for purposes of IRC Section                    project for which credit is (or will be)
                                                    DC 20224; telephone number (202) 317–                   42(h)(4), if the bonds are issued and the             sought;


                                               VerDate Sep<11>2014   16:53 Dec 16, 2015   Jkt 238001   PO 00000   Frm 00042   Fmt 4703   Sfmt 4703   E:\FR\FM\17DEN1.SGM   17DEN1


                                                    78750                     Federal Register / Vol. 80, No. 242 / Thursday, December 17, 2015 / Notices

                                                      (2) The aggregate amount of LIHTC                        (Case B) Project B is located in a 2015            Credits are allocated to the second
                                                    applied for on behalf of, or that would                 DDA that is NOT a designated DDA in                   phase of Project E on October 30, 2016.
                                                    eventually be allocated to, the buildings               2016, 2017, or 2018. A complete                       The aggregate amount of credits
                                                    on the site exceeds the one-year                        application for tax credits for Project B             allocated to the two phases of Project E
                                                    limitation on credits per applicant, as                 is filed with the allocating agency on                exceeds the amount of credits that may
                                                    defined in the Qualified Allocation Plan                December 1, 2015. Credits are allocated               be allocated to an applicant in one year
                                                    (QAP) of the LIHTC-allocating agency,                   to Project B on March 30, 2018. Project               under the allocating agency’s QAP and
                                                    or the annual per-capita credit authority               B is NOT eligible for the increase in                 is the reason that applications were
                                                    of the LIHTC allocating agency, and is                  basis accorded a project in a 2015 DDA                made in multiple phases. The second
                                                    the reason the applicant must request                   because, although the application for an              phase of Project E is, therefore, eligible
                                                    multiple allocations over 2 or more                     allocation of tax credits was filed                   for the increase in basis accorded a
                                                    years; and                                              BEFORE January 1, 2016 (the effective                 project in a 2015 DDA, because it meets
                                                      (3) All applications for LIHTC for                    date of the 2016 DDA lists), the tax                  all of the conditions to be a part of a
                                                    buildings on the site are made in                       credits were allocated later than the end             multiphase project.
                                                    immediately consecutive years.                          of the 730-day period after the filing of                (Case F) Project F is a multiphase
                                                      Members of the public are hereby                      the complete application.                             project located in a 2015 DDA that is
                                                    reminded that the Secretary of Housing                     (Case C) Project C is located in a 2015            NOT a designated DDA in 2016. The
                                                    and Urban Development, or the                           DDA that was not a DDA in 2014.                       first phase of Project F received an
                                                    Secretary’s designee, has legal authority               Project C was placed in service on                    allocation of credits in 2015, pursuant to
                                                    to designate DDAs and QCTs, by                          November 15, 2014. A complete                         an application filed March 15, 2015,
                                                    publishing lists of geographic entities as              application for tax-exempt bond                       which does not describe the multiphase
                                                    defined by, in the case of DDAs, the                    financing for Project C is filed with the             composition of the project. An
                                                                                                            bond-issuing agency on January 15,                    application for tax credits for the second
                                                    Census Bureau, the several states and
                                                                                                            2015. The bonds that will support the                 phase of Project F is filed with the
                                                    the governments of the insular areas of
                                                                                                            permanent financing of Project C are                  allocating agency by the same entity on
                                                    the United States and, in the case of
                                                                                                            issued on September 30, 2015. Project C               March 15, 2017. Credits are allocated to
                                                    QCTs, by the Census Bureau; and to
                                                                                                            is NOT eligible for the increase in basis             the second phase of Project F on
                                                    establish the effective dates of such lists.
                                                                                                            otherwise accorded a project in a 2015                October 30, 2017. The aggregate amount
                                                    The Secretary of the Treasury, through
                                                                                                            DDA, because the project was placed in                of credits allocated to the two phases of
                                                    the IRS thereof, has sole legal authority
                                                                                                            service BEFORE January 1, 2015.                       Project F exceeds the amount of credits
                                                    to interpret, and to determine and                         (Case D) Project D is located in an area
                                                    enforce compliance with the IRC and                                                                           that may be allocated to an applicant in
                                                                                                            that is a DDA in 2015, but is NOT a DDA               one year under the allocating agency’s
                                                    associated regulations, including                       in 2016, 2017, or 2018. A complete
                                                    Federal Register notices published by                                                                         QAP. The second phase of Project F is,
                                                                                                            application for tax-exempt bond                       therefore, NOT eligible for the increase
                                                    HUD for purposes of designating DDAs                    financing for Project D is filed with the
                                                    and QCTs. Representations made by any                                                                         in basis accorded a project in a 2015
                                                                                                            bond-issuing agency on October 30,                    DDA, since it does not meet all of the
                                                    other entity as to the content of HUD                   2015. Bonds are issued for Project D on
                                                    notices designating DDAs and QCTs that                                                                        conditions for a multiphase project, as
                                                                                                            April 30, 2017, but Project D is not
                                                    do not precisely match the language                                                                           defined in this notice. The original
                                                                                                            placed in service until January 30, 2018.
                                                    published by HUD should not be relied                                                                         application for credits for the first phase
                                                                                                            Project D is eligible for the increase in
                                                    upon by taxpayers in determining what                                                                         did not describe the multiphase
                                                                                                            basis available to projects located in
                                                    actions are necessary to comply with                                                                          composition of the project. Also, the
                                                                                                            2015 DDAs because: (1) One of the two
                                                    HUD notices.                                                                                                  application for credits for the second
                                                                                                            events necessary for triggering the
                                                                                                                                                                  phase of Project F was not made in the
                                                    Interpretive Examples of Effective Date                 effective date for buildings described in
                                                                                                                                                                  year immediately following the first
                                                                                                            Section 42(h)(4)(B) of the IRC (the two
                                                       For the convenience of readers of this                                                                     phase application year.
                                                                                                            events being bonds issued and buildings
                                                    notice, interpretive examples are                       placed in service) took place on April                Findings and Certifications
                                                    provided below to illustrate the                        30, 2017, within the 730-day period
                                                    consequences of the effective date in                   after a complete application for tax-                 Environmental Impact
                                                    areas that gain or lose DDA status. The                 exempt bond financing was filed, (2) the                 This notice involves the
                                                    examples covering DDAs are equally                      application was filed during a time                   establishment of fiscal requirements or
                                                    applicable to QCT designations.                         when the location of Project D was in a               procedures that are related to rate and
                                                       (Case A) Project A is located in a 2015              DDA, and (3) both the issuance of the                 cost determinations and do not
                                                    DDA that is NOT a designated DDA in                     bonds and placement in service of                     constitute a development decision
                                                    2016 or 2017. A complete application                    Project D occurred after the application              affecting the physical condition of
                                                    for tax credits for Project A is filed with             was submitted.                                        specific project areas or building sites.
                                                    the allocating agency on November 15,                      (Case E) Project E is a multiphase                 Accordingly, under 40 CFR 1508.4 of
                                                    2015. Credits are allocated to Project A                project located in a 2015 DDA that is                 the regulations of the Council on
                                                    on October 30, 2017. Project A is                       NOT a designated DDA in 2016. The                     Environmental Quality and 24 CFR
                                                    eligible for the increase in basis                      first phase of Project E received an                  50.19(c)(6) of HUD’s regulations, this
                                                    accorded a project in a 2015 DDA                        allocation of credits in 2015, pursuant to
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                                                                                                                                                                  notice is categorically excluded from
                                                    because the application was filed                       an application filed March 15, 2015,                  environmental review under the
                                                    BEFORE January 1, 2016 (the effective                   which describes the multiphase                        National Environmental Policy Act of
                                                    date for the 2016 DDA lists), and                       composition of the project. An                        1969 (42 U.S.C. 4321).
                                                    because tax credits were allocated no                   application for tax credits for the second
                                                    later than the end of the 730-day period                phase Project E is filed with the                     Federalism Impact
                                                    after the filing of the complete                        allocating agency by the same entity on                  Executive Order 13132 (entitled
                                                    application for an allocation of tax                    March 15, 2016. The second phase of                   ‘‘Federalism’’) prohibits an agency from
                                                    credits.                                                Project E is located on a contiguous site.            publishing any policy document that


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                                                                              Federal Register / Vol. 80, No. 242 / Thursday, December 17, 2015 / Notices                                                            78751

                                                    has federalism implications if the                          are requesting submission of any such                         species under active review. For
                                                    document either imposes substantial                         information that has become available                         additional information about 5-year
                                                    direct compliance costs on state and                        since the last review for the species.                        reviews, go to http://www.fws.gov/
                                                    local governments and is not required                       DATES: To ensure consideration, please                        endangered/what-we-do/recovery-
                                                    by statute, or the document preempts                        send your written information by                              overview.html, scroll down to ‘‘Learn
                                                    state law, unless the agency meets the                      February 16, 2016. However, we will                           More about 5-Year Reviews,’’ and click
                                                    consultation and funding requirements                       continue to accept new information                            on our factsheet.
                                                    of section 6 of the executive order. This                   about any listed species at any time.                         What information do we consider in
                                                    notice merely designates DDAs as                            ADDRESSES: For how to send comments                           our review?
                                                    required under IRC Section 42, as                           or information for each species, see the
                                                    amended, for the use by political                           table in the SUPPLEMENTARY INFORMATION                          A 5-year review considers all new
                                                    subdivisions of the states in allocating                    section.                                                      information available at the time of the
                                                    the LIHTC. This notice also details the                                                                                   review. In conducting these reviews, we
                                                                                                                FOR FURTHER INFORMATION CONTACT: To
                                                    technical method used in making such                        request information, contact the                              consider the best scientific and
                                                    designations. As a result, this notice is                   appropriate person in the table in the                        commercial data that have become
                                                    not subject to review under the order.                      SUPPLEMENTARY INFORMATION section.                            available since the listing determination
                                                      Dated: December 10, 2015.                                 Individuals who are hearing impaired or                       or most recent status review, such as:
                                                    Katherine M. O’Regan,                                       speech impaired may call the Federal                            (A) Species biology, including but not
                                                    Assistant Secretary for Policy Development                  Relay Service at 800–877–8339 for TTY                         limited to population trends,
                                                    and Research.                                               assistance.                                                   distribution, abundance, demographics,
                                                    [FR Doc. 2015–31766 Filed 12–16–15; 8:45 am]                SUPPLEMENTARY INFORMATION: We are                             and genetics;
                                                    BILLING CODE 4210–67–P                                      initiating 5-year status reviews under                          (B) Habitat conditions, including but
                                                                                                                the Endangered Species Act of 1973, as                        not limited to amount, distribution, and
                                                                                                                amended (Act), for one animal and five                        suitability;
                                                    DEPARTMENT OF THE INTERIOR                                  plant species: Illinois cave amphipod                           (C) Conservation measures that have
                                                                                                                (Gammarus acherondytes), Michigan                             been implemented that benefit the
                                                    Fish and Wildlife Service                                   monkey flower (Mimulus                                        species;
                                                                                                                michiganensis), Running buffalo clover                          (D) Threat status and trends in
                                                    [FWS–R3–ES–2015–N201;                                       (Trifolium stoloniferum), Minnesota
                                                    FX3ES11130300000–167–FF03E00000]                                                                                          relation to the five listing factors (as
                                                                                                                dwarf trout lily (Erythronium                                 defined in section 4(a)(1) of the Act);
                                                    Endangered and Threatened Wildlife                          propullans), Western prairie fringed                          and
                                                    and Plants; Initiation of 5-Year Status                     orchid (Platanthera praeclara), and
                                                                                                                Prairie bush clover (Lespedeza                                  (E) Other new information, data, or
                                                    Reviews of One Listed Animal and Five                                                                                     corrections, including but not limited to
                                                    Listed Plant Species                                        leptostachya).
                                                                                                                                                                              taxonomic or nomenclatural changes,
                                                                                                                Why do we conduct 5-year reviews?                             identification of erroneous information
                                                    AGENCY:   Fish and Wildlife Service,
                                                    Interior.                                                      Under the Act (16 U.S.C. 1531 et seq.),                    contained in the List, and improved
                                                                                                                we maintain Lists of Endangered and                           analytical methods.
                                                    ACTION: Notice of initiation of reviews;
                                                    request for information.                                    Threatened Wildlife and Plants (which                           Any new information will be
                                                                                                                we collectively refer to as the List) in                      considered during the 5-year review and
                                                    SUMMARY:   We, the U.S. Fish and                            the Code of Federal Regulations (CFR) at                      will also be useful in evaluating the
                                                    Wildlife Service, are initiating 5-year                     50 CFR 17.11 (for animals) and 17.12                          ongoing recovery programs for the
                                                    status reviews under the Endangered                         (for plants). Section 4(c)(2)(A) of the Act                   species.
                                                    Species Act of 1973, as amended (Act),                      requires us to review each listed                             What species are under review?
                                                    for one animal and five plant species. A                    species’ status at least once every 5
                                                    5-year status review is based on the best                   years. Our regulations at 50 CFR 424.21                         This notice announces our active 5-
                                                    scientific and commercial data available                    require that we publish a notice in the                       year status reviews of the species in the
                                                    at the time of the review; therefore, we                    Federal Register announcing those                             following table.

                                                                                                                                          Animals

                                                                                                                                                        Final listing rule
                                                                                                   Listing                                             (Federal Register          Contact person,         Contact person’s
                                                      Common name          Scientific name                              Where listed
                                                                                                   status                                                 citation and             phone, email           U.S. mail address
                                                                                                                                                        publication date)

                                                    Illinois cave         Gammarus               E ..........    Illinois ........................   63 FR 46900; Sep-         Kristin Lundh; Kristin_   USFWS; 1511 47th
                                                        amphipod.          acherondytes.                                                               tember 3, 1988.           Lundh@fws.gov;           Avenue; Moline, IL
                                                                                                                                                                                 309–757–5800,            61265.
                                                                                                                                                                                 x215.
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Document Created: 2018-03-02 09:18:14
Document Modified: 2018-03-02 09:18:14
CategoryRegulatory Information
CollectionFederal Register
sudoc ClassAE 2.7:
GS 4.107:
AE 2.106:
PublisherOffice of the Federal Register, National Archives and Records Administration
SectionNotices
ActionNotice.
ContactFor questions on how areas are designated and on geographic definitions, contact Michael K. Hollar, Senior Economist, Economic Development and Public Finance Division, Office of Policy Development and Research, Department of Housing and Urban Development, 451 Seventh Street SW., Room 8234, Washington, DC 20410-6000; telephone number (202) 402-5878, or send an email to [email protected] For specific legal questions pertaining to Section 42, contact Branch 5, Office of the Associate Chief Counsel, Passthroughs and Special Industries, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC 20224; telephone number (202) 317-4137, fax number (202) 317-6731. For questions about the ``HUB Zone'' program, contact Mariana Pardo, Director, HUBZone Program, Office of Government Contracting and Business Development, U.S. Small Business Administration, 409 Third Street SW., Suite 8800, Washington, DC 20416; telephone number (202) 205-2985, fax number (202) 481-6443, or send an email to [email protected] A text telephone is available for persons with hearing or speech impairments at 800-877-8339. (These are not toll-free telephone numbers.) Additional copies of this notice are available through HUD User at 800-245-2691 for a small fee to cover duplication and mailing costs.
FR Citation80 FR 78749 

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