New Markets Tax Credit (NMTC) Program Allocation Application

Forms and Documents

Document Name	Status
Form CDFI 0020 New Markets Tax Credit (NMTC) Program Allocation Application Form and Instruction	Modified
Form CDFI 0020 New Markets Tax Credit (NMTC) Program Allocation Application Form and Instruction	Modified
2009 NMTC Supporting Statement.doc Supporting Statement A	2009-10-23
2009 NMTC Application (1559-0016) 12-30-2008- Redline.doc Supplementary Document	2009-01-09
PRA Change Worksheet 09 (1559-0016) 12.30.08.doc Supplementary Document	2009-01-09
Summary Changes (1559-0016) 12.30.08 .doc Supplementary Document	2009-01-09
OMB Change Worksheet 2008 NMTC Application-112807.doc Justification for No Material/Nonsubstantive Change	2007-11-29
OMB Change Worksheet for 2007 NMTC Application.doc Supplementary Document	2006-08-10
Summary Application Comments.xls Supplementary Document	2006-08-10

IC Document Collections

IC ID	Document Title	Status
187769	New Markets Tax Credit (NMTC) Program Allocation Application Form and Instruction	Modified
187767	New Markets Tax Credit (NMTC) Program Allocation Application Form and Instruction	Modified

ICR Details

OMB Control No: 1559-0016	ICR Reference No: 200910-1559-001
Status: Historical Active	Previous ICR Reference No: 200901-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: New Markets Tax Credit (NMTC) Program Allocation Application
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 02/26/2010
	Date Received in OIRA: 10/30/2009
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2013	36 Months From Approved	02/28/2010
Responses	249	0	239
Time Burden (Hours)	65,487	0	45,410
Cost Burden (Dollars)	0	0	0

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Abstract: The New Markets Tax Credit (NMTC) Program will provide an incentive to investors in the form of a tax credit, which is expected to stimulate investment in private capital that, and in turn, will facilitate economic and community development in low-income communities. In order to qualify for an allocation of tax credits under the NMTC Program an entity must be certified as a qualified community development entity and submit an allocation application to the CDFI Fund. Upon receipt of such applications, the CDFI Fund will conduct a competitive review process to evaluate applications for the receipt of NMTC allocations.

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Authorizing Statute(s): US Code: 26 USC 45D-1 Name of Law: null
  

Citations for New Statutory Requirements: None

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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
60-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 38482	08/03/2009
30-day Notice:	Federal Register Citation:	Citation Date:
	74 FR 56257	10/30/2009
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
New Markets Tax Credit (NMTC) Program Allocation Application	CDFI 0020, CDFI 0020	2009 NMTC Program Allocation Application ,   NMTC Program 2009 Application
New Markets Tax Credit (NMTC) Program Allocation Application	CDFI 0020, CDFI 0020	2009 NMTC Allocation Application ,   NMTC Program 2009 Application

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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	249	239	0	0	10	0
Annual Time Burden (Hours)	65,487	45,410	0	0	20,077	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: The number of respondents for each application round has varied with the amount of tax credit allocations available, i.e. the larger the amount of tax credit allocations available, the more respondents apply, and conversely, the smaller the amount of tax credit allocations available, the fewer respondents apply.

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Annual Cost to Federal Government: $0

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)? No

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: 10/30/2009

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