Capital Magnet Fund, 14370 [2016-06030]

Download as PDF 14370 Federal Register / Vol. 81, No. 52 / Thursday, March 17, 2016 / Rules and Regulations DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund 12 CFR Part 1807 RIN 1559–AA00 Capital Magnet Fund Community Development Financial Institutions Fund, Department of the Treasury ACTION: Interim rule; extension of comment period. AGENCY: On February 8, 2016, the Department of the Treasury published an interim rule (hereafter, the interim rule) implementing the Capital Magnet Fund (CMF), administered by the Community Development Financial Institutions Fund (CDFI Fund). The interim rule incorporates updates to the definitions, requirements and parameters for CMF implementation and administration. This document extends the comment period on the interim rule to May 8, 2016. DATES: The comment period for the interim rule published February 8, 2016, at 81 FR 6434, is extended. All comments must be written and must be received in the offices of the CDFI Fund on or before May 8, 2016. ADDRESSES: You may submit comments concerning the interim rule via the Federal e-Rulemaking Portal at http:// www.regulations.gov (please follow the instructions for submitting comments). All submissions must include the agency name and Regulatory Information Number (RIN) for this rulemaking. Information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund’s Web site at http://www.cdfifund.gov. FOR FURTHER INFORMATION CONTACT: Marcia Sigal, CMF program staff by email at cmf@cdfi.treas.gov, or by phone at (202) 653–0421. SUPPLEMENTARY INFORMATION: On February 8, 2016, the Department of the Treasury published an interim rule implementing the CMF, administered by the CDFI Fund. The comment period designated in the interim rule notice will close on April 8, 2016. The FY 2016 CMF application round opened on February 8, 2016 with the publication in the Federal Register of the Notice of Funds Availability Inviting Applications for the Fiscal Year (FY) 2016 Funding Round of the Capital Magnet Fund (FY 2016 NOFA). Per the FY 2016 NOFA, applications are due by March 30, 2016. The CDFI Fund also held a series of asabaliauskas on DSK3SPTVN1PROD with RULES SUMMARY: VerDate Sep<11>2014 15:58 Mar 16, 2016 Jkt 238001 application webinars for the FY 2016 CMF application round in February and March of 2016. Since the opening of the FY 2016 CMF application round and during these application webinars, multiple interested applicants requested additional time to submit comments regarding the interim rule and requested that the comment period be extended. In response to these requests, the Department hereby extends the comment period for an additional 30 days so that comments are due on or before May 8, 2016. The interim rule incorporates updates to the definitions, requirements and parameters for CMF implementation and administration including, among others, Applicant eligibility, application review, Recipient selection, Assistance Agreements, eligible uses of CMF Awards, and Recipient reporting. In addition, sections of the interim rule regarding certain definitions and project level requirements have been revised in order to facilitate alignment and ease of administration. These revisions are modeled after the requirements of the Low Income Housing Tax Credit Program (LIHTC Program) authorized under Title I of the U.S. Housing Act of 1937, as amended, 42 U.S.C. 1437 et seq., and the HOME Investment Partnership Program (HOME Program) authorized under Title II of the Cranston-Gonzalez National Affordable Housing Act, as amended, 42 U.S.C. 12701 et seq. and the HOME Program final rule published on July 24, 2013. The interim rule also reflects requirements set forth in a final rule, Uniform Administrative Requirements, Cost Principles and Audit Requirements for Federal Awards (12 CFR 1000), adopted by the Department of the Treasury on December 19, 2014 (hereafter referred to as the Uniform Administrative Requirements). The Uniform Administrative Requirements constitute a government-wide framework for grants management codified by the Office of Management and Budget (OMB), combining several OMB grants management circulars aimed at reducing the administrative burden for Recipients, and reducing the risk of waste, fraud and abuse of Federal financial assistance. The Uniform Administrative Requirements establish financial, administrative, procurement, and program management standards with which Federal award-making programs, including those administered by the CDFI Fund, and Recipients must comply. Accordingly, the interim rule includes revisions necessary to implement the Uniform Administrative Requirements, as well as to make certain technical corrections and certain PO 00000 Frm 00002 Fmt 4700 Sfmt 4700 programmatic updates, as well as provide clarifying language to existing program requirements. The CDFI Fund seeks public comment on the entire interim rule. All capitalized terms herein are defined in the definitions section of the interim rule, as set forth in 12 CFR 1807.104. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2016–06030 Filed 3–16–16; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF TRANSPORTATION Federal Aviation Administration 14 CFR Part 39 [Docket No. FAA–2006–25970; Directorate Identifier 99–NE–12–AD; Amendment 39– 18426; AD 2016–05–08] RIN 2120–AA64 Airworthiness Directives; Turbomeca S.A. Turboshaft Engines Federal Aviation Administration (FAA), DOT. ACTION: Final rule. AGENCY: We are superseding airworthiness directive (AD) 2006–23– 17 for certain Turbomeca S.A. Turmo IV A and IV C turboshaft engines. AD 2006–23–17 required repetitive inspections of the centrifugal compressor intake wheel (inducer) blades for cracks and corrosion, replacement of parts that fail inspection, and replacement of the TU 197 standard centrifugal compressor. This AD requires the same inspections, but at revised intervals, adds the replacement of the TU 215 standard centrifugal compressor, and requires replacement of parts that fail inspection. This AD was prompted by a centrifugal compressor inducer blade loss. This AD was also prompted by a Turbomeca S.A. review of the engine service experience and their determination that more frequent borescope inspections (BSIs) are required on engines not modified to the TU 191, TU 197, or TU 224 standard. We are issuing this AD to prevent failure of the centrifugal compressor inducer, which could lead to an uncontained blade release, damage to the engine, and damage to the airplane. DATES: This AD is effective April 21, 2016. The Director of the Federal Register approved the incorporation by reference of a certain publication listed in this AD as of April 21, 2016. SUMMARY: E:\FR\FM\17MRR1.SGM 17MRR1

Agencies

[Federal Register Volume 81, Number 52 (Thursday, March 17, 2016)]
[Rules and Regulations]
[Page 14370]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-06030]



[[Page 14370]]

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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund

12 CFR Part 1807

RIN 1559-AA00


Capital Magnet Fund

AGENCY: Community Development Financial Institutions Fund, Department 
of the Treasury

ACTION: Interim rule; extension of comment period.

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SUMMARY: On February 8, 2016, the Department of the Treasury published 
an interim rule (hereafter, the interim rule) implementing the Capital 
Magnet Fund (CMF), administered by the Community Development Financial 
Institutions Fund (CDFI Fund). The interim rule incorporates updates to 
the definitions, requirements and parameters for CMF implementation and 
administration. This document extends the comment period on the interim 
rule to May 8, 2016.

DATES: The comment period for the interim rule published February 8, 
2016, at 81 FR 6434, is extended. All comments must be written and must 
be received in the offices of the CDFI Fund on or before May 8, 2016.

ADDRESSES: You may submit comments concerning the interim rule via the 
Federal e-Rulemaking Portal at http://www.regulations.gov (please 
follow the instructions for submitting comments). All submissions must 
include the agency name and Regulatory Information Number (RIN) for 
this rulemaking. Information regarding the CDFI Fund and its programs 
may be obtained through the CDFI Fund's Web site at http://www.cdfifund.gov.

FOR FURTHER INFORMATION CONTACT: Marcia Sigal, CMF program staff by 
email at cmf@cdfi.treas.gov, or by phone at (202) 653-0421.

SUPPLEMENTARY INFORMATION: On February 8, 2016, the Department of the 
Treasury published an interim rule implementing the CMF, administered 
by the CDFI Fund.
    The comment period designated in the interim rule notice will close 
on April 8, 2016. The FY 2016 CMF application round opened on February 
8, 2016 with the publication in the Federal Register of the Notice of 
Funds Availability Inviting Applications for the Fiscal Year (FY) 2016 
Funding Round of the Capital Magnet Fund (FY 2016 NOFA). Per the FY 
2016 NOFA, applications are due by March 30, 2016. The CDFI Fund also 
held a series of application webinars for the FY 2016 CMF application 
round in February and March of 2016. Since the opening of the FY 2016 
CMF application round and during these application webinars, multiple 
interested applicants requested additional time to submit comments 
regarding the interim rule and requested that the comment period be 
extended. In response to these requests, the Department hereby extends 
the comment period for an additional 30 days so that comments are due 
on or before May 8, 2016.
    The interim rule incorporates updates to the definitions, 
requirements and parameters for CMF implementation and administration 
including, among others, Applicant eligibility, application review, 
Recipient selection, Assistance Agreements, eligible uses of CMF 
Awards, and Recipient reporting. In addition, sections of the interim 
rule regarding certain definitions and project level requirements have 
been revised in order to facilitate alignment and ease of 
administration. These revisions are modeled after the requirements of 
the Low Income Housing Tax Credit Program (LIHTC Program) authorized 
under Title I of the U.S. Housing Act of 1937, as amended, 42 U.S.C. 
1437 et seq., and the HOME Investment Partnership Program (HOME 
Program) authorized under Title II of the Cranston-Gonzalez National 
Affordable Housing Act, as amended, 42 U.S.C. 12701 et seq. and the 
HOME Program final rule published on July 24, 2013.
    The interim rule also reflects requirements set forth in a final 
rule, Uniform Administrative Requirements, Cost Principles and Audit 
Requirements for Federal Awards (12 CFR 1000), adopted by the 
Department of the Treasury on December 19, 2014 (hereafter referred to 
as the Uniform Administrative Requirements). The Uniform Administrative 
Requirements constitute a government-wide framework for grants 
management codified by the Office of Management and Budget (OMB), 
combining several OMB grants management circulars aimed at reducing the 
administrative burden for Recipients, and reducing the risk of waste, 
fraud and abuse of Federal financial assistance. The Uniform 
Administrative Requirements establish financial, administrative, 
procurement, and program management standards with which Federal award-
making programs, including those administered by the CDFI Fund, and 
Recipients must comply. Accordingly, the interim rule includes 
revisions necessary to implement the Uniform Administrative 
Requirements, as well as to make certain technical corrections and 
certain programmatic updates, as well as provide clarifying language to 
existing program requirements.
    The CDFI Fund seeks public comment on the entire interim rule. All 
capitalized terms herein are defined in the definitions section of the 
interim rule, as set forth in 12 CFR 1807.104.

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-06030 Filed 3-16-16; 8:45 am]
 BILLING CODE 4810-70-P