NMTC Recovery Act Allocatee Quarterly Report

Forms and Documents

Document	Type	Status	Availability
Supporting_Statement QNMR-9-23-09.doc	Supporting Statement A	Uploaded 2009-09-25	Available

IC Document Collections

IC ID	Collection	Type	Status	Form
190811	NMTC Recovery Act Allocatee Quarterly Report	Instruction	New

ICR Details

OMB Control No: 1559-0035	ICR Reference No: 200909-1559-002
Status: Historical Active	Previous ICR Reference No:
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: NMTC Recovery Act Allocatee Quarterly Report
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 10/09/2009
OIRA Conclusion Action: Approved without change	Conclusion Date: 10/19/2009
	Date Received in OIRA: 09/30/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2010	6 Months From Approved
Responses	240	0	0
Time Burden (Hours)	960	0	0
Cost Burden (Dollars)	0	0	0

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Abstract: The CDFI Fund is requiring American Recovery and Reinvestment Act (ARRA) New Markets Tax Credit Allocatees to complete, on a quarterly basis, a much shorter version of the CDFI Fund's Transactional Level Report (TLR), which Allocatees currently report through the Community Investment Impact System (CIIS). The Quarterly New Markets Report (QNMR) will help the CDFI Fund meet its own ARRA agency reporting requirement per agreement with OMB that New Markets Tax Credit Allocatees provide quarterly reports.

Emergency Justfication: The CDFI Fund is requiring American Recovery and Reinvestment Act (ARRA) New Markets Tax Credit Allocatees to complete, on a quarterly basis, a much shorter version of the CDFI Fund’s Transactional Level Report (TLR), which Allocatees currently report through the Community Investment Impact System (CIIS). The Quarterly New Markets Report (QNMR) will help the CDFI Fund meet its own ARRA agency reporting requirements per agreement with OMB. While under ARRA, Allocatees are not required to publicly report to FederalReporting.gov, the CDFI Fund will implement the QNMR to meet OMB’s requirement that NMTC Allocatees provide quarterly reports. The QNMR provides qualitative and quantitative information on the Allocatees’ compliance with performance goals as outlined in their Allocation Agreements with the CDFI Fund.

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Authorizing Statute(s): PL: Pub.L. 111 - 289 1132 Name of Law: Housing and Economic Recovery Act of 2008
  

Citations for New Statutory Requirements: PL: Pub.L. 111 - 289 1132 Name of Law: Housing and Economic Recovery Act of 2008

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
NMTC Recovery Act Allocatee Quarterly Report	CDFI 0031	NMTC Recovery Act Allocatee Quarterly Report

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	240	0	240	0	0	0
Annual Time Burden (Hours)	960	0	960	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: This submission to OMB is new but based on the previously authorized Annual Report (OMB# 1559-0006) and CDFI Annual Survey (OMB# 1559-0027). This Quarterly New Markets Report will help the CDFI Fund meet its own ARRA agency reporting requirements and meet OMB's requirement that NMRC Allocatees provide quarterly reports.

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Annual Cost to Federal Government: $370,000

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? Uncollected

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? Uncollected

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? Yes

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 09/30/2009

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