81 FR 35817 - Community Development Financial Institutions Fund; Notice and Request for Comments

DEPARTMENT OF THE TREASURY

Federal Register Volume 81, Issue 107 (June 3, 2016)

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, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the Secondary Loan Commitment Form (SLCF) for the CDFI Bond Guarantee Program (BG Program).

[Federal Register Volume 81, Number 107 (Friday, June 3, 2016)]
[Notices]
[Pages 35817-35818]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-13123]


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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund; Notice and 
Request for Comments

ACTION: Notice and request for comments.

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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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Community Development Financial 
Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is 
soliciting comments concerning the Secondary Loan Commitment Form 
(SLCF) for the CDFI Bond Guarantee Program (BG Program).

DATES: Written comments should be received on or before August 2, 2016 
to be assured of consideration.

ADDRESSES: Submit your comments via email Lisa Jones, CDFI Bond 
Guarantee Program Manager, at [email protected].

FOR FURTHER INFORMATION CONTACT: Lisa Jones, CDFI Bond Guarantee 
Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500 
Pennsylvania Avenue NW., Washington, DC 20220, or by facsimile to (202) 
508-0083 (not a toll free number). Additional information regarding the 
BG Program and the SLCF may be obtained from the BG Program page of the 
CDFI Fund's Web site at http://www.cdfifund.gov/bond.

SUPPLEMENTARY INFORMATION: 
    Title: CDFI Bond Guarantee Program Secondary Loan Commitment Form.
    OMB Number: 1559-0044.
    Abstract: The purpose of the BG Program is to support CDFI lending 
by providing Guarantees for Bonds issued by Qualified Issuers as part 
of a Bond Issue for Eligible Community or Economic Development 
Purposes. The BG Program provides CDFIs with a source of long-term 
capital and furthers the mission of the CDFI Fund to increase economic 
opportunity and promote community development investments for 
underserved populations and distressed communities in the United 
States. The CDFI Fund achieves its mission by promoting access to 
capital and local economic growth by investing in, supporting, and 
training CDFIs.
    In compliance with OMB Circular A-129 and the BG Program's interim 
rule (12 CFR 1808), the BG Program will collect all necessary 
information to monitor compliance, manage the portfolio effectively, 
and track progress towards policy goals and statutory and regulatory 
requirements. The proposed SLCF will add significantly to the 
Department of the Treasury's review and impact analysis on the current 
and proposed use of Bond Proceeds in underserved communities and 
support the CDFI Fund in proactively managing regulatory compliance. 
Risk detection and mitigation are crucial activities for the long-term 
operation and viability of the BG Program. The specified data 
collection area and parameters are consistent with the requirements 
contained in 12 CFR part 1808.307(b).
    Current Actions: New Collection.
    Type of Review: Regular Review.
    Affected Public: Eligible CDFIs participating in the BG Program.
    Estimated Number of Respondents: 25.
    Estimated Annual Time per Respondent: 4 hours.
    Estimated Total Annual Burden Hours: 100 hours.
    Requests for Comments: Comments submitted in response to this 
notice will be summarized and/or included in the request for Office of 
Management and Budget approval. All comments will become a matter of 
public record and may be published on the CDFI Fund Web site at http://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 will 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.
    The CDFI Fund specifically requests comments concerning the 
following questions:
    (1) Does the proposed SLCF and certification form provide clarity 
on the expectations for meeting the requirements contained in 12 CFR 
part 1808.307(b)?
    (2) Is there additional information or guidance that the CDFI Fund 
can provide to clarify the commitment test review process?
    (3) Does the proposed SLCF and certification contain the 
appropriate data points to ensure that Eligible CDFIs have executed 
Secondary Loan documents (in the form of promissory notes) with 
Secondary Borrowers as follows: (1) Not later than 12 months after the 
Bond Issue Date, Secondary Loan documents representing at least 50 
percent of such Eligible CDFI's Bond Loan proceeds allocated for 
Secondary Loans; and (2) not later than 24 months after the Bond Issue 
Date, Secondary

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Loan documents representing 100 percent of such Eligible CDFI's Bond 
Loan proceeds allocated for Secondary Loans?

    Authority:  12 CFR part 1808.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-13123 Filed 6-2-16; 8:45 am]
 BILLING CODE 4810-70-P