81 FR 50056 - Agency Information Collection Activities; Proposals, Submissions, and Approvals

DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund

Federal Register Volume 81, Issue 146 (July 29, 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 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 (the CDFI Fund), the Department of the Treasury, is soliciting comments concerning modifying the Bank Enterprise Award Program (BEA Program) Report Form to a form that may be used for the Community Development Financial Institutions Program (CDFI Program) and Native American CDFI Assistance Program (NACA Program). The form will be renamed the Uses of Award Report Form in an effort by the CDFI Fund to create uniform reporting requirements.

[Federal Register Volume 81, Number 146 (Friday, July 29, 2016)]
[Notices]
[Pages 50056-50057]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2016-17996]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Agency Information Collection Activities; Proposals, Submissions, 
and Approvals

AGENCY: Community Development Financial Institutions Fund, Treasury.

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 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 (the 
CDFI Fund), the Department of the Treasury, is soliciting comments 
concerning modifying the Bank Enterprise Award Program (BEA Program) 
Report Form to a form that may be used for the Community

[[Page 50057]]

Development Financial Institutions Program (CDFI Program) and Native 
American CDFI Assistance Program (NACA Program). The form will be 
renamed the Uses of Award Report Form in an effort by the CDFI Fund to 
create uniform reporting requirements.

DATES: Written comments should be received on or before September 27, 
2016 to be assured of consideration.

ADDRESSES: Submit your comments via email to Michael Banks, Associate 
Program Manager, CDFI Fund, at [email protected].

FOR FURTHER INFORMATION CONTACT: Michael Banks, Associate Program 
Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania 
Avenue NW, Washington, DC 20220. The Uses of Award Report Form may be 
obtained from the CDFI Fund's Web site at http://www.cdfifund.gov/bea 
under How to Apply Step 5: Compliance and Reporting or http://www.cdfifund.gov/cdfi under How to Apply Step 4: Compliance and 
Reporting.

SUPPLEMENTARY INFORMATION: Title: Uses of Award Report Form (formerly 
BEA Program Award Report Form).
    OMB Number: 1559-0032.
    Abstract: The purpose of the BEA Program is to provide an incentive 
to insured depository institutions to increase their activities in the 
form of loans, investments, services, and technical assistance within 
distressed communities and provide financial assistance to certified 
Community Development Financial Institutions (CDFIs) through grants, 
stock purchases, loans, deposits, and other forms of financial and 
technical assistance. Applicants submit applications and are evaluated 
in accordance with statutory and regulatory requirements (12 CFR 1806), 
and requirements that are set forth in the annual Notice of Funds 
Availability. The CDFI Fund requires BEA Program Award Recipients to 
use BEA Program Awards for BEA Program Qualified Activities, as defined 
in the BEA Program regulations. Recipients are required to report to 
the CDFI Fund on their Qualified Activities per their Assistance 
Agreements.
    The CDFI Program is authorized by the Riegle Community Development 
Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12 
U.S.C. 4701 et seq.). The CDFI Program uses federal resources to invest 
in and build the capacity of CDFIs to serve low-income people and 
communities lacking adequate access to affordable financial products 
and services. The CDFI Fund created the Native Initiatives, which 
includes the NACA Program, to further support the creation and 
expansion of Native CDFIs. Through the CDFI Program and NACA Program, 
the CDFI Fund provides: (1) Financial Assistance (FA) awards to CDFIs 
and Native CDFIs that have Comprehensive Business Plans for creating 
demonstrable community development impact through the deployment of 
credit, capital, and financial services within their respective Target 
Markets or the expansion into new Investment Areas, Low-Income Targeted 
Populations, or Other Targeted Populations, and (ii) Technical 
Assistance (TA) grants to CDFIs and Native CDFIs and entities proposing 
to become CDFIs or Native CDFIs in order to build their capacity to 
better address the community development and capital access needs of 
their existing or proposed Target Markets and/or to become certified 
CDFIs. CDFI Program applicants submit applications and are evaluated in 
accordance with statutory and regulatory requirements (12 CFR 1805), 
and requirements that are set forth in an annual Notice of Funds 
Availability. NACA Program applicants submit applications and are 
evaluated in accordance with requirements that are set forth in an 
annual Notice of Funds Availability. Recipients with FA or TA awards 
are required to report to the CDFI Fund on the uses of those funds per 
their Assistance Agreements.
    In an effort to create uniformity in reporting across the CDFI 
Fund, the CDFI Fund seeks to revise the BEA Program Award Report Form 
and rename it the ``Uses of Award Report Form.'' The BEA Program Award 
Report Form is currently required for Recipients of awards under the 
BEA Program. These revisions would allow the form to also be used by 
the Community Development Financial Institutions Program (CDFI Program) 
and Native American CDFI Assistance Program (NACA Program). This 
request for public comment seeks to gather information on the revised 
Use of Award Report Form.
    Current Actions: Renewal and revision of an existing Information 
Collection.
    Type of Review: Regular Review.
    Affected Public: Recipients of BEA Program awards.
    Estimated Number of BEA Program Respondents: 80.
    Estimated Annual Time per BEA Program Respondent: 1 hour.
    Affected Public: Recipients of CDFI or NACA Program awards.
    Estimated Number of CDFI and NACA Program Respondents: 245.
    Estimated Annual Time CDFI and NACA Program per Respondent: 1 hour.
    Estimated Total Annual Burden Hours: 325 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 (OMB) approval. All comments will become a matter 
of public record and will 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 agency, 
including whether the information shall have practical utility; (b) the 
accuracy of the agency's estimate of the burden of the collection of 
information; (c) ways to enhance the quality, utility, and clarity of 
the information 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.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collections of 
information displays a valid OMB control number.

    Authority:  12 U.S.C. 4704, 4713; 12 CFR parts 1805 and 1806.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-17996 Filed 7-28-16; 8:45 am]
 BILLING CODE 4810-70-P