82 FR 19453 - Announcement Type: Notice and Request for Public Comment

DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund

Federal Register Volume 82, Issue 80 (April 27, 2017)

The 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 Community Development Financial Institutions CDFI Program (CDFI Program) and New Markets Tax Credit Program (NMTC Program) Annual Report including the Community Investment Impact System (CIIS).

[Federal Register Volume 82, Number 80 (Thursday, April 27, 2017)]
[Notices]
[Pages 19453-19454]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2017-08454]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Announcement Type: Notice and Request for Public Comment

AGENCY: Community Development Financial Institutions Fund, Treasury.

ACTION: Notice.

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SUMMARY: The 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 Community 
Development Financial Institutions CDFI Program (CDFI Program) and New 
Markets Tax Credit Program (NMTC Program) Annual Report including the 
Community Investment Impact System (CIIS).

DATES: Written comments must be received on or before June 26, 2017 to 
be assured of consideration.

ADDRESSES: Submit your comments via email to Greg Bischak, Program 
Manager for Financial Strategies and Research, CDFI Fund, at 
[email protected].

FOR FURTHER INFORMATION CONTACT: Greg Bischak, Program Manager for 
Financial Strategies and Research, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 1500 Pennsylvania 
Ave. NW., Washington, DC 20220. 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: CDFI Program and NMTC Program Annual Report including CIIS.
    OMB Number: 1559-0027.
    Abstract: This collection captures quantitative information from 
Community Development Financial Institutions (CDFI) and Community 
Development Entities (CDE) at the institution and transaction levels. 
This information is used to assess: (1) The recipient's/allocatee's 
activities as detailed in its application materials; (2) the 
recipient's/allocatee's approved use of the assistance; (3) the 
recipient's/allocatee's financial condition; (4) the socio-economic 
characteristics of recipient's/allocatee's borrowers/investees, loan 
and investment terms, repayment status, and community development 
outcomes; and (5) overall compliance with the terms and conditions of 
the assistance/allocation agreement entered into by the CDFI Fund and 
the recipient/allocatee.
    A CDFI Program or Native American CDFI Assistance Program (NACA 
Program) recipient must submit an Annual Report that comprises of 
several sections that depend on the program and the type of award. The 
specific components that comprise a recipient's Annual Report are set 
forth in the assistance agreement that the recipient enters into with 
the CDFI Fund in order to receive a CDFI Program or a NACA Program 
award. These reporting requirements can be found in the assistance 
agreement templates located on the CDFI Fund Web site at 
www.cdfifund.gov. NMTC Program allocatees must submit an Annual Report 
that comprises: (i) A financial statement that has been audited by an 
independent certified public accountant; (ii) an Institution Level 
Report (ILR) (including the IRS Compliance Questions section), if the 
allocatee has issued any Qualified Equity Investments; and (iii) a 
Transaction Level Report (TLR) if the allocatee has issued any 
Qualified Low-Income Community Investments in the form of loans or 
investments. The components that comprise an allocatee's Annual Report 
are set forth in the allocation agreement that the allocatee enters 
into with the CDFI Fund in order to receive a NMTC Program allocation. 
These requirements can be found in the allocation agreement templates 
located on the CDFI Fund Web site at www.cdfifund.gov.
    Type of Review: Regular Review.
    Affected Public: CDFIs and CDEs; including businesses or other for-
profit institutions, non-profit entities, and State, local and Tribal 
entities participating in CDFI Fund programs.
    Estimated Number of Respondents: CDFI TA Annual ILR: 65.
    CDFI Annual TLR and ILR: 245.
    NMTC Annual Report: 275.
    Estimated Annual Time Per Respondent:

    CDFI TA Annual ILR: 25.
    CDFI Annual TLR and ILR: 115.
    NMTC Annual Report: 85.
    Estimated Total Annual Burden Hours: 53,175.
    CDFI TA Annual ILR: 1,625.
    CDFI Annual TLR and ILR: 28,175.
    NMTC Annual Report: 23,375.
    Request 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. Comments are invited on 
all aspects of the information collections, but commentators may wish 
to focus particular attention on: (a) The cost for CDFIs and CDEs to 
operate and maintain the services/systems required to provide the 
required information; (b) ways to enhance the quality, utility, and 
clarity of the information to be collected; (c) whether the collection 
of information is necessary for the proper evaluation of the 
effectiveness and impact of the CDFI Fund's programs, including whether 
the information has practical utility; (d) the accuracy of the CDFI 
Fund's estimate of the burden of the collection of information; (e) 
ways to minimize the burden of the collection of information including 
through the use of technology, such as software for internal accounting 
and geocoding to capture geographic detail while streamlining and 
aggregating TLR reporting for upload to CIIS, and; (f) what methods 
might be used to improve the data quality, internal accounting and 
efficiency of reporting transactions for serving other targeted 
populations.
    Please note that this request for public comment is necessary in 
order to renew the CIIS data collection under the Paperwork Reduction 
Act. Next year the CDFI Fund plans to integrate the CIIS data 
collection into the CDFI Fund's Awards Management Information System 
(AMIS). It is anticipated that the transition to AMIS will result in 
streamlining of the CIIS data collections and a reduction of reporting 
burden. The CDFI Fund will publish a request for public comment at that 
time to solicit feedback on the proposed revisions and potential 
effects on reporting burdens.


[[Page 19454]]


    Authority:  12 U.S.C. 4707 et seq.; 26 U.S.C. 45D; 12 CFR part 
1805.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fun.
[FR Doc. 2017-08454 Filed 4-26-17; 8:45 am]
 BILLING CODE 4810-70-P