Notice of Allocation Availability (NOAA) Inviting Applications for the CY 2009 Allocation Round of the New Markets Tax Credit (NMTC) Program, 13310-13311 [E9-6789]

Download as PDF 13310 Federal Register / Vol. 74, No. 57 / Thursday, March 26, 2009 / Notices discovered a number of issues that could have a clear impact on the integrity of the pipeline. During the 2008 pipeline construction season, PHMSA inspectors discovered issues requiring immediate operator remediation prior to the pipeline being placed in service or requiring pressure reduction to assure pipeline integrity. Issues discovered during PHMSA inspections included poor quality control and procedures for welding, coating, and materials; as well as inadequate operator inspection and general construction practices. PHMSA developed this workshop in collaboration with our State partners, FERC and NEB to inform the public, alert the industry, review lessons learned from inspections, and to improve new pipeline construction practices prior to the 2009 construction season. Due to time constraints, this workshop will focus solely on natural gas transmission and hazardous liquid pipelines being constructed on established rights-of-way and will not include discussion on property rights, permitting or siting issues. Preliminary Workshop Agenda The workshop will include: (1) Quality Control and Inspection, (2) Welding, (3) Coating, (4) Materials, and (5) Best practices for pipeline construction. Refer to the meeting Web site for a more detailed agenda: https:// primis.phmsa.dot.gov/meetings/ Mtg58.mtg. Issued in Washington, DC, on March 19, 2009. Jeffrey D. Wiese, Associate Administrator for Pipeline Safety. [FR Doc. E9–6690 Filed 3–25–09; 8:45 am] BILLING CODE 4910–60–P DEPARTMENT OF THE TREASURY Submission for OMB Review; Comment Request March 20, 2009. The Department of Treasury will submit the following public information collection requirement(s) to OMB for review and clearance under the Paperwork Reduction Act of 1995, Public Law 104–13 on or after the date of publication of this notice. Copies of the submission(s) may be obtained by calling the Treasury Bureau Clearance Officer listed. Comments regarding this information collection should be VerDate Nov<24>2008 20:28 Mar 25, 2009 Jkt 217001 addressed to the OMB reviewer listed and to the Treasury Department Clearance Officer, Department of the Treasury, Room 11000, and 1750 Pennsylvania Avenue, NW., Washington, DC 20220. DATES: Written comments should be received on or before April 27, 2009 to be assured of consideration. Internal Revenue Service (IRS) OMB Number: 1545–2119. Type of Review: Extension. Title: Notice 2008–79, Tax-exempt Housing Bonds and 2008 Housing Legislation. Description: This information is being requested from issuers of tax-exempt bonds who issue bonds subject to the new volume cap or utilize proceeds of mortgage revenue bonds to refinance certain qualified subprime mortgage loans, as provided in the Housing Assistance Tax Act of 2008, enacted July 30, 2008 (‘‘2008 Housing Act’’). We are asking issuers to report bonds issued pursuant to the new volume cap on existing form 8038 that is already required to be filed in connection with bond issues, and issuers of mortgage revenue bonds to attach a schedule to the 8038 providing a reasonable estimate of the total expected principal amount that will be utilized to refinance qualified subprime mortgage loans. We are asking issuers to file a second copy of an existing IRS Form 8328 in order to make the election to carry forward additional volume cap provided under the 2008 Housing Act that remains unused at the end of calendar year 2008. Respondents: State Local, and Tribal Governments. Estimated Total Burden Hours: 300 hours. Clearance Officer: R. Joseph Durbala, (202) 622–3634, Internal Revenue Service, Room 6516, 1111 Constitution Avenue, NW., Washington, DC 20224. OMB Reviewer: Shagufta Ahmed, (202) 395–7873, Office of Management and Budget, Room 10235, New Executive Office Building, Washington, DC 20503. Celina Elphage, Treasury PRA Clearance Officer. [FR Doc. E9–6692 Filed 3–25–09; 8:45 am] BILLING CODE 4830–01–P PO 00000 Frm 00138 Fmt 4703 Sfmt 4703 DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Notice of Allocation Availability (NOAA) Inviting Applications for the CY 2009 Allocation Round of the New Markets Tax Credit (NMTC) Program Announcement Type: Change to NOAA inviting applications for the CY 2009 Allocation Round of the NMTC Program: Increase in allocation authority; increase in maximum anticipated allocation award amount; waiver of Qualified Equity Investment (QEI) issuance requirements for allocation awards made in CY 2008; notification of reporting requirements for allocatees receiving allocations pursuant to the American Recovery and Reinvestment Act of 2009. Dates: Electronic applications must be received by 5 p.m. ET on April 8, 2009. Applications sent by mail, facsimile or other form will not be accepted. Executive Summary: This NOAA update is issued in connection with the calendar year 2009 tax credit allocation round of the NMTC Program, authorized by Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (Pub. L. 106–554), as amended (the Act). On January 22, 2009, the Community Development Financial Institutions Fund (the Fund) announced in the NOAA for the NMTC Program (74 FR 4077) the amount of NMTC allocation authority available, the QEI issuance requirements for prior-round allocatees, and the reporting requirements for allocatees. Pursuant to the recent passage of the American Recovery and Reinvestment Act of 2009 (Recovery Act), the Fund hereby announces an increase in the total available NMTC allocation authority to $5.0 billion for the CY 2009 round. Furthermore, with respect to eligibility for an allocation under the CY 2009 round, the Fund hereby waives the QEI issuance requirements for allocation awards made in CY 2008 and increases the anticipated maximum allocation award for CY 2009 to $125 million each. Finally, the Fund is hereby providing guidance on reporting requirements for allocatees whose allocations are authorized pursuant to the Recovery Act. Increase in Allocation Authority: The January 22, 2009 NOAA announced that there would be a total of $3.5 billion of NMTC allocation authority available in the CY 2009 round. The Recovery Act increases the NMTC allocation authority for the CY 2009 round from $3.5 billion to $5.0 billion. E:\FR\FM\26MRN1.SGM 26MRN1 Federal Register / Vol. 74, No. 57 / Thursday, March 26, 2009 / Notices Increase of Award Amount: The January 22, 2009 NOAA also announced that the Fund expects that it will provide allocation awards of not more than $100 million per applicant. Due to the additional allocation authority authorized through the Recovery Act, this notice announces that the Fund now expects that it may provide allocation awards of not more than $125 million per applicant. Waiver of QEI Issuance Requirements for CY 2008 Allocatees: The January 22, 2009 NOAA provided information regarding QEI issuance requirements for prior-year allocatees, including CY 2008 round allocatees. This notice announces that, for the CY 2009 round of the NMTC Program, a prior allocatee in the sixth round of the NMTC Program (CY 2008) is not required to issue a minimum amount of QEIs relating to its CY 2008 NMTC Allocation in order to be eligible for an allocation under the seventh round (CY 2009). Reporting Requirements for CY 2009 Allocatees Receiving Recovery Act Allocations: The January 22, 2009 NOAA indicated that each applicant that is selected to receive a NMTC allocation (including the applicant’s Subsidiary transferees) must sign a Notice of Allocation and enter into an Allocation Agreement with the Fund. The Notice of Allocation and Allocation Agreement will set forth certain required terms and conditions of the NMTC allocation which will include, among other things, reporting requirements for all applicants receiving NMTC allocations. This notice announces that, due to the nature of the Recovery Act, it is expected that allocatees receiving NMTC allocations under the Recovery Act will be required, at a minimum, to: (i) Invest QEI proceeds in low-income communities in an expedited manner; (ii) track the use of these QEI proceeds on all investments; and (iii) provide data to the Federal government on a quarterly basis that indicates how QEI proceeds were spent and the impacts (e.g., job creation) that were realized in the low-income communities. Specific reporting requirements are still under development and will be outlined in each allocatee’s Allocation Agreement. In the meantime, the Fund encourages all allocatees to review the Office of Management and Budget’s (OMB’s) memorandum (M–09–10; http:// www.whitehouse.gov/omb/assets/ memoranda_fy2009/m09–10.pdf) regarding potential reporting requirements for organizations that receive awards under the Recovery Act, as well as any subsequent guidance VerDate Nov<24>2008 20:28 Mar 25, 2009 Jkt 217001 posted on OMB’s or the Fund’s Web site. All other information and requirements set forth in the January 22, 2009 NOAA shall remain effective, as published. For Further Information Contact: The Fund will provide programmatic and information technology support related to the allocation application between the hours of 9 a.m. and 5 p.m. ET through April 6, 2009. The Fund will not respond to phone calls or e-mails concerning the application that are received after 5 p.m. ET on April 6, 2009 until after the allocation application deadline of April 8, 2009. Applications and other information regarding the Fund and its programs may be obtained from the Fund’s Web site at http://www.cdfifund.gov. The Fund will post on its Web site responses to questions of general applicability regarding the NMTC Program. A. Information technology support: Technical support can be obtained by calling (202) 622–2455 or by e-mail at ithelpdesk@cdfi.treas.gov. People who have visual or mobility impairments that prevent them from accessing the Low-Income Community maps using the Fund’s Web site should call (202) 622– 2455 for assistance. These are not toll free numbers. B. Programmatic support: If you have any questions about the programmatic requirements of this NOAA, contact the Fund’s NMTC Program Manager by email at cdfihelp@cdfi.treas.gov, by telephone at (202) 622–6355, by facsimile at (202) 622–7754, or by mail at CDFI Fund, 601 13th Street, NW., Suite 200 South, Washington, DC 20005. These are not toll free numbers. C. Administrative support: If you have any questions regarding the administrative requirements of this NOAA, contact the Fund’s Awards Manager by e-mail at grantsmanagement@cdfi.treas.gov, by telephone at (202) 622–8226, by facsimile at (202) 622–6453, or by mail at CDFI Fund, 601 13th Street, NW., Suite 200 South, Washington, DC 20005. These are not toll free numbers. D. IRS support: For questions regarding the tax aspects of the NMTC Program, contact Branch Five, Office of the Associate Chief Counsel (Passthroughs and Special Industries), IRS, by telephone at (202) 622–3040, by facsimile at (202) 622–4753, or by mail at 1111 Constitution Avenue, NW., Attn: CC:PSI:5, Washington, DC 20224. These are not toll free numbers. E. Legal counsel support: If you have any questions or matters that you believe require response by the Fund’s Office of Legal Counsel, please refer to PO 00000 Frm 00139 Fmt 4703 Sfmt 4703 13311 the document titled ‘‘How to Request a Legal Review,’’ found on the Fund’s Web site at http://www.cdfifund.gov. Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D–1; Pub. L. No. 111–5. Dated: March 20, 2009. Donna Gambrell, Director, Community Development Financial Institutions Fund. [FR Doc. E9–6789 Filed 3–25–09; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency Agency Information Collection Activities: Submission for OMB Review; Comment Request AGENCY: Office of the Comptroller of the Currency (OCC), Treasury. ACTION: Notice and request for comment. SUMMARY: The OCC, 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 a continuing information collection, as required by the Paperwork Reduction Act of 1995. An agency may not conduct or sponsor, and a respondent is not required to respond to, an information collection unless it displays a currently valid OMB control number. The OCC is soliciting comment concerning its information collection titled, ‘‘Recordkeeping Requirements for Securities Transactions—12 CFR part 12.’’ The OCC also gives notice that it has sent the information collection to the Office of Management and Budget (OMB) for review. DATES: You should submit comments by April 27, 2009. ADDRESSES: Communications Division, Office of the Comptroller of the Currency, Mailstop 2–3, Attention: 1557–0142, 250 E Street, SW., Washington, DC 20219. In addition, comments may be sent by fax to (202) 874–5274, or by electronic mail to regs.comments@occ.treas.gov. You may personally inspect and photocopy comments at the OCC, 250 E Street, SW., Washington, DC. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 874–4700. Upon arrival, visitors will be required to present valid government-issued photo identification and submit to security screening in order to inspect and photocopy comments. E:\FR\FM\26MRN1.SGM 26MRN1

Agencies

[Federal Register Volume 74, Number 57 (Thursday, March 26, 2009)]
[Notices]
[Pages 13310-13311]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-6789]


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

DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice of Allocation Availability (NOAA) Inviting Applications 
for the CY 2009 Allocation Round of the New Markets Tax Credit (NMTC) 
Program

    Announcement Type: Change to NOAA inviting applications for the CY 
2009 Allocation Round of the NMTC Program: Increase in allocation 
authority; increase in maximum anticipated allocation award amount; 
waiver of Qualified Equity Investment (QEI) issuance requirements for 
allocation awards made in CY 2008; notification of reporting 
requirements for allocatees receiving allocations pursuant to the 
American Recovery and Reinvestment Act of 2009.
    Dates: Electronic applications must be received by 5 p.m. ET on 
April 8, 2009. Applications sent by mail, facsimile or other form will 
not be accepted.
    Executive Summary: This NOAA update is issued in connection with 
the calendar year 2009 tax credit allocation round of the NMTC Program, 
authorized by Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (Pub. L. 106-554), as amended (the Act). On 
January 22, 2009, the Community Development Financial Institutions Fund 
(the Fund) announced in the NOAA for the NMTC Program (74 FR 4077) the 
amount of NMTC allocation authority available, the QEI issuance 
requirements for prior-round allocatees, and the reporting requirements 
for allocatees. Pursuant to the recent passage of the American Recovery 
and Reinvestment Act of 2009 (Recovery Act), the Fund hereby announces 
an increase in the total available NMTC allocation authority to $5.0 
billion for the CY 2009 round. Furthermore, with respect to eligibility 
for an allocation under the CY 2009 round, the Fund hereby waives the 
QEI issuance requirements for allocation awards made in CY 2008 and 
increases the anticipated maximum allocation award for CY 2009 to $125 
million each. Finally, the Fund is hereby providing guidance on 
reporting requirements for allocatees whose allocations are authorized 
pursuant to the Recovery Act.
    Increase in Allocation Authority: The January 22, 2009 NOAA 
announced that there would be a total of $3.5 billion of NMTC 
allocation authority available in the CY 2009 round. The Recovery Act 
increases the NMTC allocation authority for the CY 2009 round from $3.5 
billion to $5.0 billion.

[[Page 13311]]

    Increase of Award Amount: The January 22, 2009 NOAA also announced 
that the Fund expects that it will provide allocation awards of not 
more than $100 million per applicant. Due to the additional allocation 
authority authorized through the Recovery Act, this notice announces 
that the Fund now expects that it may provide allocation awards of not 
more than $125 million per applicant.
    Waiver of QEI Issuance Requirements for CY 2008 Allocatees: The 
January 22, 2009 NOAA provided information regarding QEI issuance 
requirements for prior-year allocatees, including CY 2008 round 
allocatees. This notice announces that, for the CY 2009 round of the 
NMTC Program, a prior allocatee in the sixth round of the NMTC Program 
(CY 2008) is not required to issue a minimum amount of QEIs relating to 
its CY 2008 NMTC Allocation in order to be eligible for an allocation 
under the seventh round (CY 2009).
    Reporting Requirements for CY 2009 Allocatees Receiving Recovery 
Act Allocations: The January 22, 2009 NOAA indicated that each 
applicant that is selected to receive a NMTC allocation (including the 
applicant's Subsidiary transferees) must sign a Notice of Allocation 
and enter into an Allocation Agreement with the Fund. The Notice of 
Allocation and Allocation Agreement will set forth certain required 
terms and conditions of the NMTC allocation which will include, among 
other things, reporting requirements for all applicants receiving NMTC 
allocations. This notice announces that, due to the nature of the 
Recovery Act, it is expected that allocatees receiving NMTC allocations 
under the Recovery Act will be required, at a minimum, to: (i) Invest 
QEI proceeds in low-income communities in an expedited manner; (ii) 
track the use of these QEI proceeds on all investments; and (iii) 
provide data to the Federal government on a quarterly basis that 
indicates how QEI proceeds were spent and the impacts (e.g., job 
creation) that were realized in the low-income communities. Specific 
reporting requirements are still under development and will be outlined 
in each allocatee's Allocation Agreement. In the meantime, the Fund 
encourages all allocatees to review the Office of Management and 
Budget's (OMB's) memorandum (M-09-10; http://www.whitehouse.gov/omb/assets/memoranda_fy2009/m09-10.pdf) regarding potential reporting 
requirements for organizations that receive awards under the Recovery 
Act, as well as any subsequent guidance posted on OMB's or the Fund's 
Web site.
    All other information and requirements set forth in the January 22, 
2009 NOAA shall remain effective, as published.
    For Further Information Contact: The Fund will provide programmatic 
and information technology support related to the allocation 
application between the hours of 9 a.m. and 5 p.m. ET through April 6, 
2009. The Fund will not respond to phone calls or e-mails concerning 
the application that are received after 5 p.m. ET on April 6, 2009 
until after the allocation application deadline of April 8, 2009. 
Applications and other information regarding the Fund and its programs 
may be obtained from the Fund's Web site at http://www.cdfifund.gov. 
The Fund will post on its Web site responses to questions of general 
applicability regarding the NMTC Program.
    A. Information technology support: Technical support can be 
obtained by calling (202) 622-2455 or by e-mail at 
ithelpdesk@cdfi.treas.gov. People who have visual or mobility 
impairments that prevent them from accessing the Low-Income Community 
maps using the Fund's Web site should call (202) 622-2455 for 
assistance. These are not toll free numbers.
    B. Programmatic support: If you have any questions about the 
programmatic requirements of this NOAA, contact the Fund's NMTC Program 
Manager by e-mail at cdfihelp@cdfi.treas.gov, by telephone at (202) 
622-6355, by facsimile at (202) 622-7754, or by mail at CDFI Fund, 601 
13th Street, NW., Suite 200 South, Washington, DC 20005. These are not 
toll free numbers.
    C. Administrative support: If you have any questions regarding the 
administrative requirements of this NOAA, contact the Fund's Awards 
Manager by e-mail at grantsmanagement@cdfi.treas.gov, by telephone at 
(202) 622-8226, by facsimile at (202) 622-6453, or by mail at CDFI 
Fund, 601 13th Street, NW., Suite 200 South, Washington, DC 20005. 
These are not toll free numbers.
    D. IRS support: For questions regarding the tax aspects of the NMTC 
Program, contact Branch Five, Office of the Associate Chief Counsel 
(Passthroughs and Special Industries), IRS, by telephone at (202) 622-
3040, by facsimile at (202) 622-4753, or by mail at 1111 Constitution 
Avenue, NW., Attn: CC:PSI:5, Washington, DC 20224. These are not toll 
free numbers.
    E. Legal counsel support: If you have any questions or matters that 
you believe require response by the Fund's Office of Legal Counsel, 
please refer to the document titled ``How to Request a Legal Review,'' 
found on the Fund's Web site at http://www.cdfifund.gov.

    Authority: 26 U.S.C. 45D; 31 U.S.C. 321; 26 CFR 1.45D-1; Pub. L. 
No. 111-5.

    Dated: March 20, 2009.
Donna Gambrell,
Director, Community Development Financial Institutions Fund.
 [FR Doc. E9-6789 Filed 3-25-09; 8:45 am]
BILLING CODE 4810-70-P