Notice and Request for Public Comment, 2443-2444 [2017-00141]

Download as PDF sradovich on DSK3GMQ082PROD with NOTICES Federal Register / Vol. 82, No. 5 / Monday, January 9, 2017 / Notices this document, collectively, as ‘‘importers’’). Notice No. 156 also announced the availability of, and requested comment on, a draft of the ACE Filing Instructions for TTB-Regulated Commodities (Filing Instructions), which contains instructions for proper electronic filing of import data for TTB-regulated commodities. TTB requested comment on the draft Filing Instructions for 60 days ending October 6, 2015. TTB received no written comments by that date. However, TTB’s experience administering the pilot program led us to make several changes to the Filing Instructions. In Industry Circular 2015–01, issued on October 21, 2015, TTB described how importers participating in the pilot program would submit specific information through ACE, either as an approved alternative to procedures prescribed in the TTB regulations or as a means to fulfill or demonstrate compliance with regulatory requirements. At the time, most TTB regulations that required the submission of information to CBP at importation required importers to submit paper documents or paper copies of those documents to CBP. Industry Circular 2015–01 also provided specific information about how to apply to participate in the pilot program. In T.D. TTB–145, a final rule published in the Federal Register on December 22, 2016 (81 FR 94186), and effective December 31, 2016, TTB amended its regulations to clarify and streamline import procedures, and support the implementation of ITDS and the filing of import information electronically. The amendments include providing the option for importers to file import-related data electronically when filing entry or entry summary data electronically with CBP. As a result, as of December 31, 2016, the TTB regulations provide all TTB-regulated importers with the same option to file import-related information through ACE that participants in the pilot program had. For this reason, this document announces the cancellation of the pilot program and Industry Circular 2015–01, effective December 31, 2016. On that date, importers who have been participating in the pilot program must follow TTB’s regulations with regard to submitting data through ACE for importation of TTB-regulated commodities. Importers who have not been participating in the pilot program also must follow TTB’s amended regulations to submit required information on paper or electronically. VerDate Sep<11>2014 21:14 Jan 06, 2017 Jkt 241001 In addition to the changes TTB made to the Filing Instructions due to the experience gained through the pilot program, TTB has also updated the Filing Instructions to reflect the regulatory changes made in T.D. TTB– 145. The latest version of the Filing Instructions can be found on https:// www.cbp.gov by searching for its title. TTB notes that transmissions to ACE must be through a CBP-approved electronic data interchange system. For more information on submission of import-related information and forms through ACE, please see CBP’s home page on use of ACE at https:// www.cbp.gov/trade/automated. For more general information on TTB’s implementation of ITDS, see https://www.ttb.gov/importers/learnmore-itds.shtml. Drafting Information Andrew Malone of the Regulations and Rulings Division drafted this notice. Signed: January 3, 2017. John J. Manfreda, Administrator. [FR Doc. 2017–00083 Filed 1–6–17; 8:45 am] BILLING CODE 4810–31–P DEPARTMENT OF THE TREASURY Community Development Financial Institutions Fund Notice and Request for Public Comment Announcement Type: Notice and Request for Public Comment. 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, 44 U.S.C. 3506(c)(2)(A). Currently, the Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Allocation Application. DATES: Written comments must be received on or before March 10, 2017 to be assured of consideration. ADDRESSES: Submit your comments via email to Robert Ibanez, NMTC Program Manager, CDFI Fund, at nmtc@ cdfi.treas.gov. FOR FURTHER INFORMATION CONTACT: Robert Ibanez, NMTC Program Manager, CDFI Fund, U.S. Department of the PO 00000 Frm 00135 Fmt 4703 Sfmt 4703 2443 Treasury, 1500 Pennsylvania Avenue NW., Washington, DC 20220. The NMTC Allocation Application may be obtained from the CDFI Fund’s Web site at http://www.cdfifund.gov/nmtc. 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: NMTC Program Allocation Application. OMB Number: 1559–0016. Abstract: Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (the Act) amended the Internal Revenue Code (IRC) by adding IRC § 45D and created the NMTC Program. The Department of the Treasury, through the CDFI Fund, Internal Revenue Service, and Office of Tax Policy, administers the NMTC Program. In order to claim the NMTC, tax payers make Qualified Equity Investments (QEIs) in Community Development Entities (CDEs) and substantially all of the QEI proceeds must, in turn, be used by the CDE to provide investments in businesses and real estate developments in low-income communities and other purposes authorized under the statute. The tax credit provided to the investor totals 39 percent of the amount of the investment and is claimed over a seven-year period. In each of the first three years, the investor receives a credit equal to five percent of the total amount paid for the stock or capital interest at the time of purchase. For the final four years, the value of the credit is six percent annually. Investors may not redeem their investments in CDEs prior to the conclusion of the seven-year period without forfeiting any credit amounts they have received. The CDFI Fund is responsible for certifying organizations as CDEs, and administering the competitive allocation of tax credit authority to CDEs, which it does through annual allocation rounds. As part of the award selection process, CDEs are required to prepare and submit an Allocation Application, which consists of five key sections: Business Strategy; Community Outcomes; Organization Capacity; Capitalization Strategy; and Previous Allocations and Awards. This request for public comment seeks to gather information on the NMTC Allocation Application. Type of Review: Regular Review. Affected Public: CDEs applying for allocations of New Markets Tax Credits. Estimated Number of Respondents: 310. Estimated Annual Time per Respondent: 263. E:\FR\FM\09JAN1.SGM 09JAN1 2444 Federal Register / Vol. 82, No. 5 / Monday, January 9, 2017 / Notices Estimated Total Annual Burden Hours: 81,530. 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 Web site at http://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. Authority: 26 U.S.C. 45D; 26 CFR 1. 45D– 1. Mary Ann Donovan, Director, Community Development Financial Institutions Fund. [FR Doc. 2017–00141 Filed 1–6–17; 8:45 am] BILLING CODE 4810–70–P DEPARTMENT OF THE TREASURY Office of the Comptroller of the Currency FEDERAL RESERVE SYSTEM FEDERAL DEPOSIT INSURANCE CORPORATION Agency Information Collection Activities: Submission for OMB Review; Joint Comment Request Office of the Comptroller of the Currency (OCC), Treasury; Board of Governors of the Federal Reserve System (Board); and Federal Deposit Insurance Corporation (FDIC). ACTION: Joint notice and request for comment. AGENCY: In accordance with the requirements of the Paperwork Reduction Act (PRA) of 1995, the OCC, the Board, and the FDIC (the ‘‘agencies’’) may not conduct or sponsor, and the respondent is not required to respond to, an information collection unless it displays a currently valid Office of Management and Budget (OMB) control number. On August 15, sradovich on DSK3GMQ082PROD with NOTICES SUMMARY: VerDate Sep<11>2014 21:14 Jan 06, 2017 Jkt 241001 2016, the agencies, under the auspices of the Federal Financial Institutions Examination Council (FFIEC), requested public comment for 60 days on a proposal for a new Consolidated Reports of Condition and Income for Eligible Small Institutions (FFIEC 051). The proposed FFIEC 051 is a streamlined version of the existing Consolidated Reports of Condition and Income for a Bank with Domestic Offices Only (FFIEC 041), which was created by (1) removing certain existing schedules and data items and replacing them with a limited number of data items in a new supplemental schedule, (2) eliminating certain other existing data items, and (3) reducing the reporting frequency of certain data items. The FFIEC 051 generally would be available to institutions with domestic offices only and assets of less than $1 billion, which currently file the FFIEC 041. Of the nearly 6,000 insured depository institutions, approximately 5,200 would be eligible to file the proposed FFIEC 051. When compared to the existing FFIEC 041, the proposed FFIEC 051 shows a reduction in the number of pages from 85 to 61. This decrease is the result of the removal of approximately 950 or about 40 percent of the nearly 2,400 data items in the FFIEC 041. Of the data items remaining from the FFIEC 041, the agencies have reduced the reporting frequency for approximately 100 data items in the proposed FFIEC 051. In addition, the FFIEC and the agencies requested public comment on proposed revisions to the FFIEC 041 and the Consolidated Reports of Condition and Income for a Bank with Domestic and Foreign Offices (FFIEC 031), which are currently approved collections of information. The Consolidated Reports of Condition and Income are commonly referred to as the Call Report. The comment period for the August 2016 notice ended on October 14, 2016. As described in the SUPPLEMENTARY INFORMATION section, after considering the comments received on the proposals, the FFIEC and the agencies will proceed with the implementation of the proposed FFIEC 051, along with the proposed reporting revisions to the FFIEC 041 and FFIEC 031, with some modifications to the proposals for all three versions of the Call Report. With OMB approval, the proposed FFIEC 051 and the proposed reporting changes to the existing FFIEC 031 and FFIEC 041 would become effective as of March 31, 2017. The agencies also are giving notice that they have sent the collection to OMB for review. PO 00000 Frm 00136 Fmt 4703 Sfmt 4703 Comments must be submitted on or before February 8, 2017. ADDRESSES: Interested parties are invited to submit written comments to any or all of the agencies. All comments, which should refer to the OMB control number(s), will be shared among the agencies. OCC: Because paper mail in the Washington, DC, area and at the OCC is subject to delay, commenters are encouraged to submit comments by email, if possible, to prainfo@ occ.treas.gov. Comments may be sent to: Legislative and Regulatory Activities Division, Office of the Comptroller of the Currency, Attention: ‘‘1557–0081, FFIEC 031, 041, and 051,’’ 400 7th Street SW., Suite 3E–218, Mail Stop 9W–11, Washington, DC 20219. In addition, comments may be sent by fax to (571) 465–4326. You may personally inspect and photocopy comments at the OCC, 400 7th Street SW., Washington, DC 20219. For security reasons, the OCC requires that visitors make an appointment to inspect comments. You may do so by calling (202) 649–6700 or, for persons who are deaf or hard of hearing, TTY, (202) 649–5597. 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. All comments received, including attachments and other supporting materials, are part of the public record and subject to public disclosure. Do not include any information in your comment or supporting materials that you consider confidential or inappropriate for public disclosure. Board: You may submit comments, which should refer to ‘‘FFIEC 031, FFIEC 041, and FFIEC 051,’’ by any of the following methods: • Agency Web site: http:// www.federalreserve.gov. Follow the instructions for submitting comments at: http://www.federalreserve.gov/general info/foia/ProposedRegs.cfm. • Federal eRulemaking Portal: http:// www.regulations.gov. Follow the instructions for submitting comments. • Email: regs.comments@ federalreserve.gov. Include the reporting form numbers in the subject line of the message. • Fax: (202) 452–3819 or (202) 452– 3102. • Mail: Robert DeV. Frierson, Secretary, Board of Governors of the Federal Reserve System, 20th Street and Constitution Avenue NW., Washington, DC 20551. All public comments are available from the Board’s Web site at DATES: E:\FR\FM\09JAN1.SGM 09JAN1

Agencies

[Federal Register Volume 82, Number 5 (Monday, January 9, 2017)]
[Notices]
[Pages 2443-2444]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2017-00141]


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DEPARTMENT OF THE TREASURY

Community Development Financial Institutions Fund


Notice and Request for Public Comment

    Announcement Type: Notice and Request for Public Comment.

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, 44 U.S.C. 3506(c)(2)(A). 
Currently, the Community Development Financial Institutions Fund (CDFI 
Fund), U.S. Department of the Treasury, is soliciting comments 
concerning the New Markets Tax Credit Program (NMTC Program) Allocation 
Application.

DATES: Written comments must be received on or before March 10, 2017 to 
be assured of consideration.

ADDRESSES: Submit your comments via email to Robert Ibanez, NMTC 
Program Manager, CDFI Fund, at nmtc@cdfi.treas.gov.

FOR FURTHER INFORMATION CONTACT: Robert Ibanez, NMTC Program Manager, 
CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue 
NW., Washington, DC 20220. The NMTC Allocation Application may be 
obtained from the CDFI Fund's Web site at http://www.cdfifund.gov/nmtc. 
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: NMTC Program Allocation Application.
    OMB Number: 1559-0016.
    Abstract: Title I, subtitle C, section 121 of the Community Renewal 
Tax Relief Act of 2000 (the Act) amended the Internal Revenue Code 
(IRC) by adding IRC Sec.  45D and created the NMTC Program. The 
Department of the Treasury, through the CDFI Fund, Internal Revenue 
Service, and Office of Tax Policy, administers the NMTC Program. In 
order to claim the NMTC, tax payers make Qualified Equity Investments 
(QEIs) in Community Development Entities (CDEs) and substantially all 
of the QEI proceeds must, in turn, be used by the CDE to provide 
investments in businesses and real estate developments in low-income 
communities and other purposes authorized under the statute.
    The tax credit provided to the investor totals 39 percent of the 
amount of the investment and is claimed over a seven-year period. In 
each of the first three years, the investor receives a credit equal to 
five percent of the total amount paid for the stock or capital interest 
at the time of purchase. For the final four years, the value of the 
credit is six percent annually. Investors may not redeem their 
investments in CDEs prior to the conclusion of the seven-year period 
without forfeiting any credit amounts they have received.
    The CDFI Fund is responsible for certifying organizations as CDEs, 
and administering the competitive allocation of tax credit authority to 
CDEs, which it does through annual allocation rounds. As part of the 
award selection process, CDEs are required to prepare and submit an 
Allocation Application, which consists of five key sections: Business 
Strategy; Community Outcomes; Organization Capacity; Capitalization 
Strategy; and Previous Allocations and Awards. This request for public 
comment seeks to gather information on the NMTC Allocation Application.
    Type of Review: Regular Review.
    Affected Public: CDEs applying for allocations of New Markets Tax 
Credits.
    Estimated Number of Respondents: 310.
    Estimated Annual Time per Respondent: 263.

[[Page 2444]]

    Estimated Total Annual Burden Hours: 81,530.
    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 Web site at http://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.

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

Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2017-00141 Filed 1-6-17; 8:45 am]
 BILLING CODE 4810-70-P