Community Development Financial Institutions Fund; Proposed Collection; Comment Request, 20780-20781 [E9-10350]

Agencies

• DEPARTMENT OF THE TREASURY
• Community Development Financial Institutions Fund

[Federal Register Volume 74, Number 85 (Tuesday, May 5, 2009)]
[Notices]
[Pages 20780-20781]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E9-10350]


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DEPARTMENT OF THE TREASURY


Community Development Financial Institutions Fund; Proposed 
Collection; Comment Request

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 and/or continuing information collections, as required by 
the Paperwork Reduction Act of 1995, Public Law No. 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the Community Development Financial 
Institutions Fund (the Fund), a government corporation within the 
Department of the Treasury, is soliciting comments concerning the ``New 
Markets Tax Credit (NMTC) Program--Community Development Entity (CDE) 
Certification Application'' (hereafter, the Application).

DATES: Written comments should be received on or before July 6, 2009 to 
be assured of consideration.

ADDRESSES: Direct all comments to Christopher J. Stever, Certification 
and Training Program Manager, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 601 13th Street, 
NW., Suite 200 South, Washington, DC 20005, by e-mail to 
cdfihelp@cdfi.treas.gov, or by facsimile to (202) 622-7754. Please note 
that this is not a toll free number.

FOR FURTHER INFORMATION CONTACT: The Application may be obtained from 
the Fund's Web site at https://www.cdfifund.gov. Requests for additional 
information should be directed to Christopher J. Stever, Certification 
and Training Program Manager, Community Development Financial 
Institutions Fund, U.S. Department of the Treasury, 601 13th Street, 
NW., Suite 200 South, Washington, DC 20005, by e-mail to 
cdfihelp@cdfi.treas.gov, or by facsimile to (202) 622-7754. Please note 
that this is not a toll free number.

SUPPLEMENTARY INFORMATION: 
    Title: New Markets Tax Credit (NMTC) Program--Community 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. No. 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 Fund, 
administers the NMTC Program, which provides an incentive to investors 
in the form of tax credits over seven years, which is 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 Fund. Nonprofit entities and for-profit entities may be 
certified as CDEs by the 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: Currently receiving and processing CDE 
certification applications.
    Type of review: Extension.
    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 Office of 
Management and Budget approval. All comments will become a matter of 
public record and may be published on the Fund's Web site at https://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 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 
required to provide information. The Fund specifically requests 
comments concerning ways the process of certification for subsidiary 
CDEs can be simplified.
    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number.

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


[[Page 20781]]


    Dated: April 29, 2009.
Donna Gambrell,
Director, Community Development Financial Institutions Fund.
[FR Doc. E9-10350 Filed 5-4-09; 8:45 am]
BILLING CODE 4810-70-P