Community Development Financial Institutions Fund 2012 – Federal Register Recent Federal Regulation Documents

This notice invites comments from the public on issues regarding the CDFI Fund's proposed report to assess the state of access to capital and credit in Native Communities as consistent with Executive Order 13175. The CDFI Fund will offer three opportunities to engage the public on this topic: (1) Through written comment; and (2) through two virtual meetings conducted as webcasts. All material submitted will be available for public inspection and copying.

This NOAA is issued in connection with the calendar year 2012 allocation round of the New Markets Tax Credit (NMTC) Program, as initially authorized by Title I, subtitle C, section 121 of the Community Renewal Tax Relief Act of 2000 (Pub. L. 106-554) and amended by section 221 of the American Jobs Creation Act of 2004 (Pub. L. 108-357), section 101 of the Gulf Opportunity Zone Act of 2005 (Pub. L. 108-357), Division A, section 102 of the Tax Relief and Health Care Act of 2006 (Pub. L. 109-432), and section 733 of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (the Act). Through the NMTC Program, the CDFI Fund provides authority to CDEs to offer 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. Through this NOAA, the CDFI Fund announces, subject to Congressional authorization, the availability of up to $5 billion of NMTC investment authority. In this NOAA, the CDFI Fund specifically addresses how an entity may apply to receive an allocation of NMTCs, the competitive procedure through which NMTC allocations will be made, and the actions that will be taken to ensure that proper allocations are made to appropriate entities.

The 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 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions (CDFI) Fund, Department of the Treasury, is soliciting comments concerning an information collection required by the allocation agreement that is entered into by the CDFI Fund and each recipient of tax credit allocations authority through the New Markets Tax Credit (NMTC) Program. The specific information collection relates to the allocation agreement requirement that allocatees provide notice to the CDFI Fund of the receipt of Qualified Equity Investments, as defined at 24 CFR part 45D(c). The CDFI Fund has published separate notices seeking public comments regarding other information collections contained in the allocation agreement (e.g., use of Qualified Equity Investment proceeds).

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 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions (CDFI) Fund, a wholly owned government corporation within the Department of the Treasury, is soliciting comments concerning the CDFI Program Application.