Community Development Financial Institutions Fund 2013 – Federal Register Recent Federal Regulation Documents

Subject to funding availability, this NOFA is issued in connection with the FY 2014 Funding Round of the NACA Program, which the Community Development Financial Institutions Fund (CDFI Fund) administers.

The mission of the Community Development Financial Institutions Fund (CDFI Fund) is to increase economic opportunity and promote community development investments for underserved populations in distressed communities in the United States. Its long-term vision is to economically empower America's underserved and distressed communities. The purpose of the Community Development Financial Institutions Program (CDFI Program) is to promote economic revitalization and community development through investment in and assistance to Community Development Financial Institutions (CDFIs). Under the CDFI Program, the CDFI Fund provides financial assistance in the form of grants, loans, equity investments and deposits to CDFIs selected through a merit-based application process. The CDFI Fund provides financial assistance to CDFIs to enhance their ability to make loans and investments, and to provide related services for the benefit of designated investment areas, targeted populations, or both. In addition, through the CDFI Program, the CDFI Fund provides technical assistance grants to CDFIs and entities that propose to become CDFIs, for the purpose of increasing their capacity to serve their target markets. The CDFI Fund is amending its regulations regarding the financial reporting requirements for non-profit organizations. The regulatory change requires CDFI Program awardees that are non-profit organizations to provide audited financial statements within 180 days after the end of the awardee's fiscal year end. This regulatory action conforms to the financial reporting requirements for non-profit awardees to the statutory provisions governing the CDFI Program.

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 continuing information collections through CIIS, as required by the Paperwork Reduction Act of 1995, 44 U.S.C. 3506(c)(2)(A). Currently, the Community Development Financial Institutions (CDFI) Fund, Department of the Treasury, is soliciting comments concerning the Community Development Financial Institutions FundAwardee/Allocatee Annual Report (OMB Number 1559-0027), comprising the Institution Level Report (ILR) and the Transaction Level Report (TLR). The two documents comprise certain reporting requirements for participants in the CDFI Program, the Native American CDFI Assistance (NACA) Program, and the New Markets Tax Credits (NMTC) Program. The Annual Report forms (and related documents, including the CDFI Program assistance agreement, the NACA Program assistance agreement, and the NMTC Program allocation agreement) may be found at the CDFI Fund's Web site at www.cdfifund.gov.

This NOAA is issued in connection with the combined CY 2013 and 2014 allocation round (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 (P.L. 108-357), Division A, section 102 of the Tax Relief and Health Care Act of 2006 (Pub. L. 109-432), section 733 of the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010 (Pub. L. 111-312), and the American Taxpayer Relief Act of 2012 (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 the availability of up to $8.5 billion of NMTC investment authority, $3.5 billion of which has been authorized in the Act and an additional $5.0 billion, which is subject to Congressional authorization. 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 Community Development Financial Institutions (CDFI) Fund, a wholly owned government corporation within the U.S. Department of the Treasury, is seeking proposals from entities interested in serving as the Master Servicer/Trustee for the CDFI Bond Guarantee Program, which was authorized under the Small Business Jobs Act of 2010 (Pub. L. 111- 240; 12 U.S.C. 4713a) (the Act). This Notice of Request for Proposals describes the duties of the Master Servicer/Trustee, the criteria to be used to select the Master Servicer/Trustee, the selection process, and how to submit proposals.

This NOFA is issued in connection with the FY 2013 funding round of the BEA Program. The BEA Program is administered by the Community Development Financial Institutions (CDFI) Fund, a wholly owned government corporation within the Department of the Treasury. The BEA Program encourages Insured Depository Institutions to increase their levels of loans, investments, services, and technical assistance within Distressed Communities, and financial assistance to CDFIs through equity investments, equity-like loans, grants, stock purchases, loans, deposits, and other forms of financial and technical assistance, during a specified period.

This notice announces the next meeting of the Community Development Advisory Board (the ``Advisory Board''), which provides advice to the Director of the Community Development Financial Institutions Fund (CDFI Fund).