81 FR 14370 - Capital Magnet Fund
DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund Federal Register Volume 81, Issue 52 (March 17, 2016)
Community Development Financial Institutions Fund
Federal Register Volume 81, Issue 52 (March 17, 2016)
| Page Range | 14370-14370 | |
| FR Document | 2016-06030 |
[Federal Register Volume 81, Number 52 (Thursday, March 17, 2016)] [Rules and Regulations] [Page 14370] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-06030] [[Page 14370]] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund 12 CFR Part 1807 RIN 1559-AA00 Capital Magnet Fund AGENCY: Community Development Financial Institutions Fund, Department of the Treasury ACTION: Interim rule; extension of comment period. ----------------------------------------------------------------------- SUMMARY: On February 8, 2016, the Department of the Treasury published an interim rule (hereafter, the interim rule) implementing the Capital Magnet Fund (CMF), administered by the Community Development Financial Institutions Fund (CDFI Fund). The interim rule incorporates updates to the definitions, requirements and parameters for CMF implementation and administration. This document extends the comment period on the interim rule to May 8, 2016. DATES: The comment period for the interim rule published February 8, 2016, at 81 FR 6434, is extended. All comments must be written and must be received in the offices of the CDFI Fund on or before May 8, 2016. ADDRESSES: You may submit comments concerning the interim rule via the Federal e-Rulemaking Portal at http://www.regulations.gov (please follow the instructions for submitting comments). All submissions must include the agency name and Regulatory Information Number (RIN) for this rulemaking. Information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund's Web site at http://www.cdfifund.gov. FOR FURTHER INFORMATION CONTACT: Marcia Sigal, CMF program staff by email at cmf@cdfi.treas.gov, or by phone at (202) 653-0421. SUPPLEMENTARY INFORMATION: On February 8, 2016, the Department of the Treasury published an interim rule implementing the CMF, administered by the CDFI Fund. The comment period designated in the interim rule notice will close on April 8, 2016. The FY 2016 CMF application round opened on February 8, 2016 with the publication in the Federal Register of the Notice of Funds Availability Inviting Applications for the Fiscal Year (FY) 2016 Funding Round of the Capital Magnet Fund (FY 2016 NOFA). Per the FY 2016 NOFA, applications are due by March 30, 2016. The CDFI Fund also held a series of application webinars for the FY 2016 CMF application round in February and March of 2016. Since the opening of the FY 2016 CMF application round and during these application webinars, multiple interested applicants requested additional time to submit comments regarding the interim rule and requested that the comment period be extended. In response to these requests, the Department hereby extends the comment period for an additional 30 days so that comments are due on or before May 8, 2016. The interim rule incorporates updates to the definitions, requirements and parameters for CMF implementation and administration including, among others, Applicant eligibility, application review, Recipient selection, Assistance Agreements, eligible uses of CMF Awards, and Recipient reporting. In addition, sections of the interim rule regarding certain definitions and project level requirements have been revised in order to facilitate alignment and ease of administration. These revisions are modeled after the requirements of the Low Income Housing Tax Credit Program (LIHTC Program) authorized under Title I of the U.S. Housing Act of 1937, as amended, 42 U.S.C. 1437 et seq., and the HOME Investment Partnership Program (HOME Program) authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended, 42 U.S.C. 12701 et seq. and the HOME Program final rule published on July 24, 2013. The interim rule also reflects requirements set forth in a final rule, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (12 CFR 1000), adopted by the Department of the Treasury on December 19, 2014 (hereafter referred to as the Uniform Administrative Requirements). The Uniform Administrative Requirements constitute a government-wide framework for grants management codified by the Office of Management and Budget (OMB), combining several OMB grants management circulars aimed at reducing the administrative burden for Recipients, and reducing the risk of waste, fraud and abuse of Federal financial assistance. The Uniform Administrative Requirements establish financial, administrative, procurement, and program management standards with which Federal award- making programs, including those administered by the CDFI Fund, and Recipients must comply. Accordingly, the interim rule includes revisions necessary to implement the Uniform Administrative Requirements, as well as to make certain technical corrections and certain programmatic updates, as well as provide clarifying language to existing program requirements. The CDFI Fund seeks public comment on the entire interim rule. All capitalized terms herein are defined in the definitions section of the interim rule, as set forth in 12 CFR 1807.104. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2016-06030 Filed 3-16-16; 8:45 am] BILLING CODE 4810-70-P
![14370 Federal Register / Vol. 81, No. 52 / Thursday, March 17, 2016 / Rules and Regulations
DEPARTMENT OF THE TREASURY application webinars for the FY 2016 programmatic updates, as well as
CMF application round in February and provide clarifying language to existing
Community Development Financial March of 2016. Since the opening of the program requirements.
Institutions Fund FY 2016 CMF application round and The CDFI Fund seeks public comment
during these application webinars, on the entire interim rule. All
12 CFR Part 1807 multiple interested applicants requested capitalized terms herein are defined in
RIN 1559–AA00
additional time to submit comments the definitions section of the interim
regarding the interim rule and requested rule, as set forth in 12 CFR 1807.104.
Capital Magnet Fund that the comment period be extended. In
Mary Ann Donovan,
response to these requests, the
AGENCY: Community Development Department hereby extends the Director, Community Development Financial
Financial Institutions Fund, Department comment period for an additional 30 Institutions Fund.
of the Treasury days so that comments are due on or [FR Doc. 2016–06030 Filed 3–16–16; 8:45 am]
ACTION: Interim rule; extension of before May 8, 2016. BILLING CODE 4810–70–P
comment period. The interim rule incorporates updates
to the definitions, requirements and
SUMMARY: On February 8, 2016, the parameters for CMF implementation DEPARTMENT OF TRANSPORTATION
Department of the Treasury published and administration including, among
an interim rule (hereafter, the interim others, Applicant eligibility, application Federal Aviation Administration
rule) implementing the Capital Magnet review, Recipient selection, Assistance
Fund (CMF), administered by the Agreements, eligible uses of CMF 14 CFR Part 39
Community Development Financial Awards, and Recipient reporting. In
Institutions Fund (CDFI Fund). The [Docket No. FAA–2006–25970; Directorate
addition, sections of the interim rule
interim rule incorporates updates to the Identifier 99–NE–12–AD; Amendment 39–
regarding certain definitions and project 18426; AD 2016–05–08]
definitions, requirements and level requirements have been revised in
parameters for CMF implementation order to facilitate alignment and ease of RIN 2120–AA64
and administration. This document administration. These revisions are
extends the comment period on the modeled after the requirements of the Airworthiness Directives; Turbomeca
interim rule to May 8, 2016. Low Income Housing Tax Credit S.A. Turboshaft Engines
DATES: The comment period for the Program (LIHTC Program) authorized AGENCY: Federal Aviation
interim rule published February 8, 2016, under Title I of the U.S. Housing Act of Administration (FAA), DOT.
at 81 FR 6434, is extended. All 1937, as amended, 42 U.S.C. 1437 et
seq., and the HOME Investment ACTION: Final rule.
comments must be written and must be
received in the offices of the CDFI Fund Partnership Program (HOME Program) SUMMARY: We are superseding
on or before May 8, 2016. authorized under Title II of the airworthiness directive (AD) 2006–23–
ADDRESSES: You may submit comments Cranston-Gonzalez National Affordable 17 for certain Turbomeca S.A. Turmo IV
concerning the interim rule via the Housing Act, as amended, 42 U.S.C. A and IV C turboshaft engines. AD
Federal e-Rulemaking Portal at http:// 12701 et seq. and the HOME Program 2006–23–17 required repetitive
www.regulations.gov (please follow the final rule published on July 24, 2013.
inspections of the centrifugal
instructions for submitting comments). The interim rule also reflects
compressor intake wheel (inducer)
All submissions must include the requirements set forth in a final rule,
Uniform Administrative Requirements, blades for cracks and corrosion,
agency name and Regulatory replacement of parts that fail inspection,
Cost Principles and Audit Requirements
Information Number (RIN) for this and replacement of the TU 197 standard
for Federal Awards (12 CFR 1000),
rulemaking. Information regarding the centrifugal compressor. This AD
adopted by the Department of the
CDFI Fund and its programs may be requires the same inspections, but at
Treasury on December 19, 2014
obtained through the CDFI Fund’s Web revised intervals, adds the replacement
(hereafter referred to as the Uniform
site at http://www.cdfifund.gov. of the TU 215 standard centrifugal
Administrative Requirements). The
FOR FURTHER INFORMATION CONTACT: Uniform Administrative Requirements compressor, and requires replacement of
Marcia Sigal, CMF program staff by constitute a government-wide parts that fail inspection. This AD was
email at cmf@cdfi.treas.gov, or by phone framework for grants management prompted by a centrifugal compressor
at (202) 653–0421. codified by the Office of Management inducer blade loss. This AD was also
SUPPLEMENTARY INFORMATION: On and Budget (OMB), combining several prompted by a Turbomeca S.A. review
February 8, 2016, the Department of the OMB grants management circulars of the engine service experience and
Treasury published an interim rule aimed at reducing the administrative their determination that more frequent
implementing the CMF, administered by burden for Recipients, and reducing the borescope inspections (BSIs) are
the CDFI Fund. risk of waste, fraud and abuse of Federal required on engines not modified to the
The comment period designated in financial assistance. The Uniform TU 191, TU 197, or TU 224 standard.
the interim rule notice will close on Administrative Requirements establish We are issuing this AD to prevent
April 8, 2016. The FY 2016 CMF financial, administrative, procurement, failure of the centrifugal compressor
application round opened on February and program management standards inducer, which could lead to an
asabaliauskas on DSK3SPTVN1PROD with RULES
8, 2016 with the publication in the with which Federal award-making uncontained blade release, damage to
Federal Register of the Notice of Funds programs, including those administered the engine, and damage to the airplane.
Availability Inviting Applications for by the CDFI Fund, and Recipients must DATES: This AD is effective April 21,
the Fiscal Year (FY) 2016 Funding comply. Accordingly, the interim rule 2016.
Round of the Capital Magnet Fund (FY includes revisions necessary to The Director of the Federal Register
2016 NOFA). Per the FY 2016 NOFA, implement the Uniform Administrative approved the incorporation by reference
applications are due by March 30, 2016. Requirements, as well as to make certain of a certain publication listed in this AD
The CDFI Fund also held a series of technical corrections and certain as of April 21, 2016.
VerDate Sep<11>2014 15:58 Mar 16, 2016 Jkt 238001 PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 E:\FR\FM\17MRR1.SGM 17MRR1](https://thefederalregister.org/doc/81_FR_14422/page/1.svg)
Document Created: 2016-03-17 00:58:32
Document Modified: 2016-03-17 00:58:32
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Rules and Regulations | |
| Action | Interim rule; extension of comment period. | |
| Dates | The comment period for the interim rule published February 8, 2016, at 81 FR 6434, is extended. All comments must be written and must be received in the offices of the CDFI Fund on or before May 8, 2016. | |
| Contact | Marcia Sigal, CMF program staff by email at [email protected], or by phone at (202) 653-0421. | |
| FR Citation | 81 FR 14370 | |
| RIN Number | 1559-AA00 |
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