Grants to States for Low-Income Housing Projects in lieu of Tax Credits

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
Emergency Justification.doc	Supplementary Document	Uploaded 2011-04-05	Available
1505-0218_Supporting Statement_REV_APR2011.doc	Supporting Statement A	Uploaded 2011-04-04	Available

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
188862	Section 1602 Reporting	Other-Spreadsheet	Modified

ICR Details

OMB Control No: 1505-0218	ICR Reference No: 201104-1505-001
Status: Historical Active	Previous ICR Reference No: 200910-1505-001
Agency/Subagency: TREAS/DO	Agency Tracking No: OFAS
Title: Grants to States for Low-Income Housing Projects in lieu of Tax Credits
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 04/19/2011
OIRA Conclusion Action: Approved without change	Conclusion Date: 04/20/2011
	Date Received in OIRA: 04/05/2011
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	10/31/2011	6 Months From Approved	02/28/2013
Responses	114	0	56
Time Burden (Hours)	57	0	14
Cost Burden (Dollars)	0	0	0

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Abstract: Authorized under the American Recovery and Reinvestment Act (ARRA), hereafter Recovery Act of 2009 (Public Law 111-5), the Department of the Treasury is implementing several provisions of the Act, more specifically Division B – Tax, Unemployment, Health, State Fiscal Relief, and Other Provisions. Among these components is a program which requires Treasury to make payments, in lieu of a tax credit, to state housing credit agencies. State housing credit agencies use the funds to make subawards to finance the construction or acquisition and rehabilitation of qualified low-income buildings. The collection of information is necessary to properly monitor compliance with program requirements.

Emergency Justfication: The American Recovery and Reinvestment Act created the Section 1602 program. Since May 2009, Treasury has awarded $5.4 billion to state housing credit agencies for developing affordable housing. Awarding of funds ceased on January 1, 2011. When construction/rehabilitation is complete, over 89,000 units of affordable rental housing will be available in 49 states, the District of Columbia, Puerto Rico, the Virgin Islands, Guam, the Northern marianas, and American Samoa. The housing owners/developers must comply with the requirement of the 1602 program, which also incorporate the requirements of the Low-Income Housing Tax Credit program, during the construction/rehabilitation phase and for a 15-year period after the buildings are placed in service. To be effective in meeting this goal it is critical that the compliance reporting collections of information contained therein be made available immediately because compliance reporting is essential to maintaining the $5.4 billion investment for affordable housing for families and individuals during the difficult housing period.

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Authorizing Statute(s): PL: Pub.L. 111 - 5 B Name of Law: American Recovery and Reinvestment Act of 2009
  

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

Did the Agency receive public comments on this ICR? No

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

table that charts list of burden

IC Title	Form No.	Form Name
Section 1602 Reporting

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ICR Summary of Burden

table that charts list 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	114	56	0	58	0	0
Annual Time Burden (Hours)	57	14	0	43	0	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: No

Burden Reduction Due to:

Short Statement: This is a emergency revision to a currently approved collection. The application period has concluded and award of funds ceased on January 1, 2011. The information collection requirements consist of compliance reporting necessary of the 55 state housing finance agencies to assess compliance of Treasury's investment. The total burden will increase to 57 hours, with 114 responses requested.

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Annual Cost to Federal Government:

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]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

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: 04/05/2011

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