Comment Request: Community Development Financial Institutions Fund: Comment Request on the Release of Transaction Level Report Data and Allocation Tracking System Data Provided by New Markets Tax Credit Program Allocatees, 46977-46978 [E6-13321]

Download as PDF Federal Register / Vol. 71, No. 157 / Tuesday, August 15, 2006 / Notices DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request August 9, 2006. mstockstill on PROD1PC61 with NOTICES The Department of Treasury has submitted the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, 1750 Pennsylvania Avenue, NW. Washington, DC 20220. DATES: Written comments should be received on or before September 14, 2006 to be assured of consideration. Internal Revenue Service (IRS) OMB Number: 1545–0228. Type of Review: Extension. Title: Installment Sale Income. Form: 6252. Description: Information is needed to figure and report an installment sale for a casual or incidental sale of personal property, and a sale of real property by someone not in the business of selling real estate. Data is used to determine whether the installment sale has been properly reported and the correct amount of profit is included in income on the taxpayer’s return. Respondents: Business and other forprofit institutions. Estimated Total Burden Hours: 1,597,008 hours. OMB Number: 1545–0314. Type of Review: Extension. Title: Form 6466, Transmittal of Forms W–4 Reported Magnetically/ Electronically; Form 6467, Transmittal of Forms W–4 Reported Magnetically/ Electronically (Continuation). Form: 6466 and 6467. Description: Under Regulation Section 31.3402(f)(2)–1(g), employers are required to submit certain withholding certificates (Form W–4) to the IRS. Transmittal Form 6466 and the continuation sheet Form 6467 are submitted by an employer, or authorized agent of the employer, who will be reporting submissions of Form W–4 on magnetic/electronic media. Respondents: Business and other forprofit institutions. Estimated Total Burden Hours: 133 hours. Clearance Officer: Glenn P. Kirkland, Internal Revenue Service, Room 6516, VerDate Aug<31>2005 15:41 Aug 14, 2006 Jkt 208001 1111 Constitution Avenue, NW., Washington, DC 20224, (202) 622–3428. OMB Reviewer: Alexander T. Hunt Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503, (202) 395–7316. Robert Dahl, Treasury PRA Clearance Officer. [FR Doc. E6–13309 Filed 8–14–06; 8:45 am] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Comment Request: Community Development Financial Institutions Fund: Comment Request on the Release of Transaction Level Report Data and Allocation Tracking System Data Provided by New Markets Tax Credit Program Allocatees Notice and request for comments. ACTION: SUMMARY: Currently, the Community Development Financial Institutions Fund (the Fund), a government corporation within the Department of the Treasury, is soliciting comments on the release of Transaction Level Report Data and Allocation Tracking System Data provided to the Fund by New Markets Tax Credit (NMTC) Program allocatees. DATES: Written comments must be received on or before October 16, 2006 to be assured of consideration. ADDRESSES: Comments must be submitted in writing and sent to Donna Fabiani, Manager for Financial Strategies and Research, as follows: (i) By mail to: Community Development Financial Institutions Fund, U.S. Department of the Treasury, 601 13th Street, NW., Suite 200 South, Washington, DC 20005; (ii) by e-mail to: NMTCTLRcomment@cdfi.treas.gov; or (iii) by fax to: (202) 622–7754. FOR FURTHER INFORMATION CONTACT: Donna Fabiani, Manager for Financial Strategies and Research, as noted above. SUPPLEMENTARY INFORMATION: Title: Release of Transaction Level Report Data and Allocation Tracking System Data Provided by New Markets Tax Credit (NMTC) Program Allocatees. Abstract: The Fund’s mission is to expand the capacity of financial institutions to provide credit, capital and financial services to underserved populations and communities in the United States. The Fund’s strategic goal is to improve the economic conditions PO 00000 Frm 00089 Fmt 4703 Sfmt 4703 46977 of underserved communities by providing capital and technical assistance to Community Development Financial Institutions (CDFIs), capital to insured depository institutions, and tax credit allocations to Community Development Entities (CDEs), which provide credit, capital, financial services, and development services to these markets. The Fund certifies entities as CDFIs and/or CDEs. In June 2004, the Fund launched a new web-based data collection system called the Community Investment Impact System (CIIS). Certified CDFIs, CDFIs that have received monetary awards from the Fund through its other programs, and CDEs that have received NMTC allocations use CIIS to report their annual performance and compliance information to the Fund. The data include institution level information on CDFIs and CDEs including financial condition, staffing, ownership, markets served, loan and investment portfolios, loan sales and purchases, financial services provided, technical assistance and training provided, and community development impacts. For CDEs and a portion of reporting CDFIs, the CIIS data also include detailed transaction level data on each loan or investment in the institutions’ portfolios. This transaction level data includes borrower characteristics, loan terms and repayment status, and community development outcomes associated with the transaction, such as jobs created, housing units developed, and square feet of real estate developed. The CIIS database is the only source of standardized transaction level data on CDFI and CDE loans and investments. The Fund has a second reporting system, called the Allocation Tracking System (ATS), that CDEs that have received NMTC allocations (allocatees) use to report on their Qualified Equity Investments (QEIs). Through the ATS, an allocatee reports to the Fund timely information regarding the issuance of QEIs by the allocatee or any of the subsidiary CDEs to which the allocatee transfers its NMTC allocation (i.e., subsidiary allocatees). ATS data include the amount and date of each QEI as well as various investor characteristics, including investor type. The Fund intends to make the Transaction Level Report data and the ATS data available to the public within the parameters of all applicable Federal information protection, privacy and confidentiality laws. The Fund expects that said data could be used by CDFIs, CDEs, funders, investors, researchers and others to gain a better understanding of the community E:\FR\FM\15AUN1.SGM 15AUN1 mstockstill on PROD1PC61 with NOTICES 46978 Federal Register / Vol. 71, No. 157 / Tuesday, August 15, 2006 / Notices development finance industry. The Fund has developed a draft protocol for releasing the Transaction Level Report data and the ATS data submitted by NMTC allocatees. Because the data contain information on businesses and individuals that may be considered sensitive and/or confidential, the Fund seeks public comment on its draft data release protocol. This draft protocol seeks to release as much data as possible without violating the Freedom of Information Act (FOIA), the Privacy Act, or other applicable Federal law. To that end, the Fund proposes not to release data that it has determined to be: (a) Confidential financial or business information of allocatees, investors, or the businesses that allocatees are lending to or investing in, the disclosure of which would cause substantial harm to the competitive position of the person from whom the information was obtained; or (b) confidential information about individuals, such as name, address, gender, race, and income. To view the Proposed Data Release Protocol (providing a description of each data field and whether the Fund proposes that the field be displayed, suppressed, or modified in the public release), a sample data release, and definitions of each data point, visit the Fund’s Web site http:// www.cdfifund.gov and click on the links under ‘‘Comment Request on the Release of TLR Data and ATS Data Provided by NMTC Program Allocatees.’’ Request for Comments: Comments submitted in response to this notice will become a matter of public record. Comments are invited on all aspects of the release of the Transaction Level Report data and ATS data, but commentators may wish to focus particular attention on the following questions: (a) Are any of the identified data points proposed for release trade secrets or commercial financial information that is privileged or confidential? (b) Would the release of any such information cause substantial harm to the competitive position of NMTC Program allocatees, allocatees’ investors, or the businesses that allocatees are lending to or investing in? (c) Would the release of any of the data points not currently proposed for release be useful to the public? (d) Are any of the data points not currently proposed for release, but potentially of interest to the public, trade secrets or commercial or financial information that is privileged or confidential? Would the release of any such information cause substantive harm to the competitive position of VerDate Aug<31>2005 15:41 Aug 14, 2006 Jkt 208001 NMTC Program allocatees, their investors, or the businesses that allocatees are lending to or investing in? Would the release of any such information cause the identity of individuals to be revealed? (e) Is the proposed Excel spreadsheet format for releasing these data acceptable to a wide range of users? If not, what is a better alternative? Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D–1T. Dated: August 8, 2006. Arthur A. Garcia, Director, Community Development Financial Institutions Fund. [FR Doc. E6–13321 Filed 8–14–06; 8:45 am] BILLING CODE 4810–70–P U.S.-CHINA ECONOMIC AND SECURITY REVIEW COMMISSION Notice of Open Public Hearing U.S.-China Economic and Security Review Commission. ACTION: Notice of open public hearing— August 22, 2006, Washington, DC. AGENCY: SUMMARY: Notice is hereby given of the following hearing of the U.S.-China Economic and Security Review Commission. Name: Larry M. Wortzel, Chairman of the U.S.-China Economic and Security Review Commission. The Commission is mandated by Congress to investigate, assess, evaluate and report to Congress annually on the U.S.-China economic and security relationship. The mandate specifically charges the Commission to investigate ‘‘the extent of Chinese access to, and use of United States capital markets, and whether the existing disclosure and transparency rules are adequate to identify Chinese companies which are active in United States markets and are also engaged in proliferation activities or other activities harmful to United States security interests.’’ Pursuant to this mandate, the Commission will hold a public hearing in Washington, DC on August 22, 2006, to assess the nature and consequences of interaction between the Chinese and U.S. capital markets. China agreed to open its financial system to foreign participation when it joined the World Trade Organization. This process is already underway and accelerating, and the Commission, therefore, believes it is important and timely to assess the nature and consequences of interaction between the Chinese and U.S. capital markets. PO 00000 Frm 00090 Fmt 4703 Sfmt 4703 Background This event is the seventh in a series of public hearings the Commission will hold during its 2006 report cycle to collect input from leading experts in academia, business, industry, government and the public on the impact of the economic and national security implications of the U.S. growing bilateral trade and economic relationship with China. The August 22 hearing is being conducted to obtain commentary about the economic and national security implications of Chinese macroeconomic policies on U.S. capital markets, exchange rates and interest rates. Information on upcoming hearings, as well as transcripts of past Commission hearings, can be obtained from the USCC Web site http:// www.uscc.gov. This hearing will address ‘‘China’s Financial System and Monetary Policies: The Impact on U.S. Exchange Rates, Capital Markets, and Interest Rates’’ and will be Co-chaired by Chairman Larry M. Wortzel and Commissioner Patrick A. Mulloy. Purpose of Hearing At this hearing the Commission seeks to assess the health of the Chinese financial system, evaluate the nature of foreign participation and understand the relationship between China’s financial system and domestic Chinese politics. The Commission also seeks to explore the nature of capital flows into and out of China in order to understand how those flows affect U.S. interest rates and the value of the dollar. The hearing is designed to assist the Commission in fulfilling its mandate by examining the condition of China’s financial system, its increasing openness to foreign competition as required under WTO rules, China’s WTO commitments to the financial sector, and the impact of Chinese macroeconomic policies on U.S. capital markets. Copies of the hearing agenda will be made available on the Commission’s Web site http://www.uscc.gov. Any interested party may file a written statement by August 22, 2006, by mailing to the contact below. The hearing will be held in two sessions, one in the morning and one in the afternoon, where Commissioners will take testimony from invited witnesses. There will be a question and answer period between the Commissioners and the witnesses. DATE AND TIME: Tuesday, August 22, 2006, 8:30 a.m. to 4:30 p.m. Eastern Standard Time. A detailed agenda for the hearing will be posted to the E:\FR\FM\15AUN1.SGM 15AUN1

Agencies

[Federal Register Volume 71, Number 157 (Tuesday, August 15, 2006)]
[Notices]
[Pages 46977-46978]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-13321]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Comment Request: Community Development Financial Institutions 
Fund: Comment Request on the Release of Transaction Level Report Data 
and Allocation Tracking System Data Provided by New Markets Tax Credit 
Program Allocatees

ACTION: Notice and request for comments.

-----------------------------------------------------------------------

SUMMARY: Currently, the Community Development Financial Institutions 
Fund (the Fund), a government corporation within the Department of the 
Treasury, is soliciting comments on the release of Transaction Level 
Report Data and Allocation Tracking System Data provided to the Fund by 
New Markets Tax Credit (NMTC) Program allocatees.

DATES: Written comments must be received on or before October 16, 2006 
to be assured of consideration.

ADDRESSES: Comments must be submitted in writing and sent to Donna 
Fabiani, Manager for Financial Strategies and Research, as follows: (i) 
By mail to: Community Development Financial Institutions Fund, U.S. 
Department of the Treasury, 601 13th Street, NW., Suite 200 South, 
Washington, DC 20005; (ii) by e-mail to: NMTCTLRcomment@cdfi.treas.gov; 
or (iii) by fax to: (202) 622-7754.

FOR FURTHER INFORMATION CONTACT: Donna Fabiani, Manager for Financial 
Strategies and Research, as noted above.

SUPPLEMENTARY INFORMATION:
    Title: Release of Transaction Level Report Data and Allocation 
Tracking System Data Provided by New Markets Tax Credit (NMTC) Program 
Allocatees.
    Abstract: The Fund's mission is to expand the capacity of financial 
institutions to provide credit, capital and financial services to 
underserved populations and communities in the United States. The 
Fund's strategic goal is to improve the economic conditions of 
underserved communities by providing capital and technical assistance 
to Community Development Financial Institutions (CDFIs), capital to 
insured depository institutions, and tax credit allocations to 
Community Development Entities (CDEs), which provide credit, capital, 
financial services, and development services to these markets. The Fund 
certifies entities as CDFIs and/or CDEs.
    In June 2004, the Fund launched a new web-based data collection 
system called the Community Investment Impact System (CIIS). Certified 
CDFIs, CDFIs that have received monetary awards from the Fund through 
its other programs, and CDEs that have received NMTC allocations use 
CIIS to report their annual performance and compliance information to 
the Fund. The data include institution level information on CDFIs and 
CDEs including financial condition, staffing, ownership, markets 
served, loan and investment portfolios, loan sales and purchases, 
financial services provided, technical assistance and training 
provided, and community development impacts. For CDEs and a portion of 
reporting CDFIs, the CIIS data also include detailed transaction level 
data on each loan or investment in the institutions' portfolios. This 
transaction level data includes borrower characteristics, loan terms 
and repayment status, and community development outcomes associated 
with the transaction, such as jobs created, housing units developed, 
and square feet of real estate developed. The CIIS database is the only 
source of standardized transaction level data on CDFI and CDE loans and 
investments.
    The Fund has a second reporting system, called the Allocation 
Tracking System (ATS), that CDEs that have received NMTC allocations 
(allocatees) use to report on their Qualified Equity Investments 
(QEIs). Through the ATS, an allocatee reports to the Fund timely 
information regarding the issuance of QEIs by the allocatee or any of 
the subsidiary CDEs to which the allocatee transfers its NMTC 
allocation (i.e., subsidiary allocatees). ATS data include the amount 
and date of each QEI as well as various investor characteristics, 
including investor type.
    The Fund intends to make the Transaction Level Report data and the 
ATS data available to the public within the parameters of all 
applicable Federal information protection, privacy and confidentiality 
laws. The Fund expects that said data could be used by CDFIs, CDEs, 
funders, investors, researchers and others to gain a better 
understanding of the community

[[Page 46978]]

development finance industry. The Fund has developed a draft protocol 
for releasing the Transaction Level Report data and the ATS data 
submitted by NMTC allocatees. Because the data contain information on 
businesses and individuals that may be considered sensitive and/or 
confidential, the Fund seeks public comment on its draft data release 
protocol. This draft protocol seeks to release as much data as possible 
without violating the Freedom of Information Act (FOIA), the Privacy 
Act, or other applicable Federal law. To that end, the Fund proposes 
not to release data that it has determined to be: (a) Confidential 
financial or business information of allocatees, investors, or the 
businesses that allocatees are lending to or investing in, the 
disclosure of which would cause substantial harm to the competitive 
position of the person from whom the information was obtained; or (b) 
confidential information about individuals, such as name, address, 
gender, race, and income.
    To view the Proposed Data Release Protocol (providing a description 
of each data field and whether the Fund proposes that the field be 
displayed, suppressed, or modified in the public release), a sample 
data release, and definitions of each data point, visit the Fund's Web 
site http://www.cdfifund.gov and click on the links under ``Comment 
Request on the Release of TLR Data and ATS Data Provided by NMTC 
Program Allocatees.''
    Request for Comments: Comments submitted in response to this notice 
will become a matter of public record. Comments are invited on all 
aspects of the release of the Transaction Level Report data and ATS 
data, but commentators may wish to focus particular attention on the 
following questions:
    (a) Are any of the identified data points proposed for release 
trade secrets or commercial financial information that is privileged or 
confidential?
    (b) Would the release of any such information cause substantial 
harm to the competitive position of NMTC Program allocatees, 
allocatees' investors, or the businesses that allocatees are lending to 
or investing in?
    (c) Would the release of any of the data points not currently 
proposed for release be useful to the public?
    (d) Are any of the data points not currently proposed for release, 
but potentially of interest to the public, trade secrets or commercial 
or financial information that is privileged or confidential? Would the 
release of any such information cause substantive harm to the 
competitive position of NMTC Program allocatees, their investors, or 
the businesses that allocatees are lending to or investing in? Would 
the release of any such information cause the identity of individuals 
to be revealed?
    (e) Is the proposed Excel spreadsheet format for releasing these 
data acceptable to a wide range of users? If not, what is a better 
alternative?

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

    Dated: August 8, 2006.
Arthur A. Garcia,
Director, Community Development Financial Institutions Fund.
 [FR Doc. E6-13321 Filed 8-14-06; 8:45 am]
BILLING CODE 4810-70-P