81_FR_43462 81 FR 43335 - Information Collection; Request for Comments

81 FR 43335 - Information Collection; Request for Comments

DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund

Federal Register Volume 81, Issue 127 (July 1, 2016)

Page Range43335-43336
FR Document2016-15719

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. Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program Certified Development Entity CDE Certification Application.

Federal Register, Volume 81 Issue 127 (Friday, July 1, 2016) 
[Federal Register Volume 81, Number 127 (Friday, July 1, 2016)]
[Notices]
[Pages 43335-43336]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-15719]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Information Collection; Request for Comments

ACTION: Notice and request for public comment.

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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. Currently, the Community 
Development Financial Institutions Fund (CDFI Fund), U.S. Department of 
the Treasury, is soliciting comments concerning the New Markets Tax 
Credit Program Certified Development Entity CDE Certification 
Application.

DATES: Written comments must be received on or before August 30, 2016 
to be assured of consideration.

ADDRESSES: Submit your comments via email to David Meyer, David Meyer, 
Certification, Compliance Monitoring and Evaluation (CCME) Program 
Manager, CDFI Fund, at [email protected].

FOR FURTHER INFORMATION CONTACT: David Meyer, CCME Program Manager, 
CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue 
NW., Washington, DC 20220 or by facsimile to (202) 653-0375 (not a toll 
free number). Other information regarding the CDFI Fund and its 
programs may be obtained through the CDFI Fund's Web site at http://www.cdfifund.gov.

SUPPLEMENTARY INFORMATION: 
    Title: New Markets Tax Credit Program Certified Development Entity 
CDE Certification Application.
    OMB Number: 1559-0014.
    Abstract: Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (the Act), as enacted in the Consolidated 
Appropriations Act, 2001 (Pub. L. 106-554, December 21, 2000), amended 
the Internal Revenue Code (IRC) by adding IRC 45D and created the NMTC 
Program. 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, expected to stimulate the 
provision of private investment capital that, in turn, will facilitate 
economic and community development in low-income communities. In order 
to qualify for an allocation of tax credits through the NMTC Program, 
an entity must be certified as a qualified Community Development Entity 
(CDE) and submit an allocation application to the CDFI Fund. Nonprofit 
entities and for-profit entities may be certified as CDEs by the CDFI 
Fund. In order to be certified as a CDE, an entity must be a domestic 
corporation or partnership, that: (1) Has a primary mission of serving 
or providing investment capital for low-income communities or low-
income persons; and (2) maintains accountability to residents of low-
income communities through their representation on any governing or 
advisory board of the entity.
    Current Actions: Renewal of Existing Information Collection.
    Type of Review: Regular Review.
    Affected Public: CDEs and entities seeking CDE certification, 
including business or other for-profit institutions, nonprofit 
entities, and State, local and Tribal entities.
    Estimated Number of Respondents: 300.
    Estimated Annual Time per Respondent: 4 hours.
    Estimated Total Annual Burden Hours: 1,200 hours.
    Requests for Comments: Comments submitted in response to this 
notice will be summarized and/or included in the request for OMB 
approval. All comments will become a matter of public record and may be 
published on the CDFI Fund Web site at http://

[[Page 43336]]

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 shall 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.

    Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D-1.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-15719 Filed 6-30-16; 8:45 am]
 BILLING CODE 4810-70-P

Federal Register / Vol. 81, No. 127 / Friday, July 1, 2016 / Notices 43335 Ironton Branch’’ or that the Ironton It is ordered: NW., Washington, DC 20220 or by Branch is no longer part of the national 1. NewVista’s petition for waiver in facsimile to (202) 653–0375 (not a toll rail system and that the Board has no Docket No. AB 1241 is denied. free number). Other information jurisdiction over the Ironton Branch. 2. Docket No. AB 1241 is closed. regarding the CDFI Fund and its Additionally, ‘‘[i]f the Ironton Branch 3. A declaratory order proceeding is programs may be obtained through the has been taken outside the authority of instituted in Docket No. FD 36040. All CDFI Fund’s Web site at http:// the STB because an abandonment parties must comply with the Rules of www.cdfifund.gov. already has been consummated, Practice, including 49 CFR parts 1112 SUPPLEMENTARY INFORMATION: [NewVista] requests a declaratory order and 1114. Title: New Markets Tax Credit so stating.’’ 4. NewVista’s Opening Statement is Program Certified Development Entity The history and status of the Ironton due August 23, 2016. 5. Replies are due September 12, CDE Certification Application. Branch is well documented. The OMB Number: 1559–0014. Interstate Commerce Commission (ICC) 2016. 6. NewVista’s rebuttal is due Abstract: Title I, subtitle C, section authorized UP’s request to abandon the September 22, 2016. 121 of the Community Renewal Tax Ironton Branch in 1977. L.A. & Salt Lake 7. Notice of the Board’s action will be Relief Act of 2000 (the Act), as enacted R.R.—Aban.—Portion of the Ironton published in the Federal Register. in the Consolidated Appropriations Act, Branch in Utah Cty., Utah, AB 85 (Sub- No. 3) (ICC served Oct. 6, 1977). 8. The decision is effective on the date 2001 (Pub. L. 106–554, December 21, Subsequently, UP filed a notice with the of service. 2000), amended the Internal Revenue ICC on December 30, 1977, clarifying Code (IRC) by adding IRC 45D and Decided: June 23, 2016. created the NMTC Program. The that track between Mileposts 0.64 and By the Board, Rachel D. Campbell, 0.71 was ‘‘retired and removed,’’ and Department of the Treasury, through the Director, Office of Proceedings. CDFI Fund, administers the NMTC that track between Mileposts 0.00 and Rena Laws-Byrum, 0.64, and between Mileposts 0.71 and Program, which provides an incentive to Clearance Clerk. investors in the form of tax credits over 1.87, was to be retained and reclassified as yard track. The Board confirmed the [FR Doc. 2016–15652 Filed 6–30–16; 8:45 am] seven years, expected to stimulate the status of those portions of the Ironton BILLING CODE 4915–01–P provision of private investment capital Branch as yard track in Joseph R. Fox— that, in turn, will facilitate economic Petition for Declaratory Order, FD 35161 and community development in low- (STB served May 18, 2009), aff’d Fox v. DEPARTMENT OF THE TREASURY income communities. In order to qualify STB, 379 Fed. Appx. 767 (10th Cir. for an allocation of tax credits through 2010). In that decision, the Board also Community Development Financial the NMTC Program, an entity must be confirmed that industrial yard track, Institutions Fund certified as a qualified Community while excepted under 49 U.S.C. 10906 Development Entity (CDE) and submit Information Collection; Request for an allocation application to the CDFI from the need to obtain Board authority Comments Fund. Nonprofit entities and for-profit for construction, abandonment, or operation, is nevertheless subject to the entities may be certified as CDEs by the Notice and request for public ACTION: Board’s jurisdiction and is not subject to CDFI Fund. In order to be certified as a comment. state or local regulation. CDE, an entity must be a domestic Because yard track is not subject to SUMMARY: The U.S. Department of the corporation or partnership, that: (1) Has the Board’s § 10903 abandonment Treasury, as part of its continuing effort a primary mission of serving or authority, the Board recently explained to reduce paperwork and respondent providing investment capital for low- that yard track is likewise excepted from burden, invites the general public and income communities or low-income the Board’s adverse abandonment other Federal agencies to take this persons; and (2) maintains process. Instead, the proper vehicle for opportunity to comment on proposed accountability to residents of low- removing the Board’s jurisdiction over and/or continuing information income communities through their yard track is through a declaratory order collections, as required by the representation on any governing or proceeding. Pinelawn Cemetery—Pet. Paperwork Reduction Act of 1995. advisory board of the entity. for Declaratory Order, FD 35468, slip Currently, the Community Development Current Actions: Renewal of Existing op. at 11 n.31 (STB served Apr. 21, Financial Institutions Fund (CDFI Information Collection. 2015). Because the portion of the Fund), U.S. Department of the Treasury, Type of Review: Regular Review. Ironton Branch remaining under Board is soliciting comments concerning the Affected Public: CDEs and entities jurisdiction is yard track, an adverse New Markets Tax Credit Program seeking CDE certification, including abandonment is not appropriate here. Certified Development Entity CDE business or other for-profit institutions, Therefore, the Board will deny Certification Application. nonprofit entities, and State, local and NewVista’s petition for waiver and will DATES: Written comments must be Tribal entities. close the abandonment proceeding. received on or before August 30, 2016 Estimated Number of Respondents: However, NewVista’s Surreply 300. to be assured of consideration. contains a request for a declaratory Estimated Annual Time per order in the alternative. The Board has ADDRESSES: Submit your comments via Respondent: 4 hours. discretionary authority under 5 U.S.C. email to David Meyer, David Meyer, Estimated Total Annual Burden asabaliauskas on DSK3SPTVN1PROD with NOTICES 554(e) and 49 U.S.C. 1321 to issue a Certification, Compliance Monitoring Hours: 1,200 hours. declaratory order to eliminate a and Evaluation (CCME) Program Requests for Comments: Comments controversy or remove uncertainty. Manager, CDFI Fund, at submitted in response to this notice will Here, a controversy exists as to whether ccme@cdfi.treas.gov. be summarized and/or included in the the yard track has been or can be FOR FURTHER INFORMATION CONTACT: request for OMB approval. All removed from the Board’s jurisdiction. David Meyer, CCME Program Manager, comments will become a matter of The Board will therefore institute a CDFI Fund, U.S. Department of the public record and may be published on declaratory order proceeding. Treasury, 1500 Pennsylvania Avenue the CDFI Fund Web site at http:// VerDate Sep<11>2014 19:05 Jun 30, 2016 Jkt 238001 PO 00000 Frm 00154 Fmt 4703 Sfmt 4703 E:\FR\FM\01JYN1.SGM 01JYN1

43336 Federal Register / Vol. 81, No. 127 / Friday, July 1, 2016 / Notices www.cdfifund.gov. Comments are collection requests to the Office of Title: Split-Interest Trust Information invited on: (a) Whether the collection of Management and Budget (OMB) for Return. information is necessary for the proper review and clearance in accordance Form: Form 5227. performance of the functions of the with the Paperwork Reduction Act of CDFI Fund, including whether the 1995, Public Law 104–13, on or after the Abstract: The data reported is used to information shall have practical utility; date of publication of this notice. verify that the beneficiaries of a (b) the accuracy of the CDFI Fund’s DATES: Comments should be received on charitable remainder trust include the estimate of the burden of the collection or before August 1, 2016 to be assured correct amounts in their tax returns, and of information; (c) ways to enhance the of consideration. that the split-interest trust is not subject quality, utility, and clarity of the ADDRESSES: Send comments regarding to private foundation taxes. information to be collected; (d) ways to the burden estimates, or any other Estimated Total Annual Burden minimize the burden of the collection of aspect of the information collections, Hours: 33,138,550. information on respondents, including including suggestions for reducing the through the use of technology; and (e) burden, to (1) Office of Information and OMB Control Number: 1545–0219. estimates of capital or start-up costs and Regulatory Affairs, Office of Type of Review: Revision of a costs of operation, maintenance, and Management and Budget, Attention: currently approved collection. purchase of services to provide Desk Officer for Treasury, New information. Title: Work Opportunity Credit. Executive Office Building, Room 10235, Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 Washington, DC 20503, or email at Form: Form 5884. CFR 1.45D–1. OIRA_Submission@OMB.EOP.gov and Abstract: IRC section 38(b) (2) allows Mary Ann Donovan, (2) Treasury PRA Clearance Officer, a credit against income tax to employers 1750 Pennsylvania Ave. NW., Suite hiring individuals from certain targeted Director, Community Development Financial Institutions Fund. 8117, Washington, DC 20220, or email groups such as welfare recipients, etc. at PRA@treasury.gov. The employer uses Form 5884 to figure [FR Doc. 2016–15719 Filed 6–30–16; 8:45 am] FOR FURTHER INFORMATION CONTACT: the credit. IRS uses the information on BILLING CODE 4810–70–P Copies of the submissions may be the form to verify that the correct obtained by emailing PRA@treasury.gov, amount of credit was claimed. DEPARTMENT OF THE TREASURY calling (202) 622–1295, or viewing the entire information collection request at Estimated Total Annual Burden www.reginfo.gov. Hours: 69,400. Submission for OMB Review; Comment Request Internal Revenue Service (IRS) Brenda Simms, June 27, 2016. Treasury PRA Clearance Officer. OMB Control Number: 1545–0196. The Department of the Treasury will Type of Review: Revision of a [FR Doc. 2016–15577 Filed 6–30–16; 8:45 am] submit the following information currently approved collection. BILLING CODE 4830–01–P asabaliauskas on DSK3SPTVN1PROD with NOTICES VerDate Sep<11>2014 19:05 Jun 30, 2016 Jkt 238001 PO 00000 Frm 00155 Fmt 4703 Sfmt 9990 E:\FR\FM\01JYN1.SGM 01JYN1


Document Created: 2016-07-14 11:37:44
Document Modified: 2016-07-14 11:37:44
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 and request for public comment.
DatesWritten comments must be received on or before August 30, 2016 to be assured of consideration.
ContactDavid Meyer, CCME Program Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220 or by facsimile to (202) 653-0375 (not a toll free number). Other information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund's Web site at http:// www.cdfifund.gov.
FR Citation81 FR 43335 
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