Department of the Treasury
Departmental Offices
Grants to States for Low-Income Housing Projects in lieu of Tax Credits
Supporting Statement and Request for Clearance
Circumstances necessitating the collection of information
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.
Use of the data
The information will be used to (1) ensure compliance with applicable laws and (2) ensure that the amount of the payment is no more than allowable under applicable laws.
3. Use of information technology
Awardees will complete a PDF- fillable form and return the reports via email. Data from reports will be stored electronically.
4. Efforts to identify duplication
The information that will be collected may have some overlap with similar data collected under previously approved information collections for low-income housing tax credits. Where possible, awardees will substitute the information collected for low-income housing tax credits.
5. Impact on small entities
No small entities are participating in the program.
6. Consequences of less frequent collection and obstacles to burden reduction
Not applicable.
7. Circumstances requiring special information collection
Not applicable.
8. Solicitation of comments on information collection
Not applicable. This information collection is necessary to comply with the Recovery Act and is requested under the emergency processing under OMB’s PRA regulations. If we determine the information collection will be required after the six month approval, we will prepare the 60-day Federal Register Notice, for public comment.
9. Provision of payments to recordkeepers
Not applicable.
10. Assurance of confidentiality
The information collected will not contain personal identification information.
11. Justification of sensitive questions
Not applicable.
12. Estimated burden of information collection
The number of respondents will be the 55 state housing finance agencies who are the awardees in the program. It will take approximately 30 minutes to complete the Report of Eligible Basis and approximately 30 minutes to complete the Annual Report of Compliance. The estimated annual burden is 55 hours.
The ad-hoc Report of Non-compliance and Recapture will be completed only when a project is in serious non-compliance. It will take approximately 30 minutes to complete. The estimated annual burden is two hours.
Reporting Requirement |
No. of Respondents |
No. Responses Per Respondent |
Annual Responses |
Hours Per Response |
Total Burden |
Report of Eligible Basis |
55 |
1 |
55 |
0.50 |
28 |
Annual Report of Compliance |
55 |
1 |
55 |
0.50 |
28 |
Report of Non-Compliance and Recapture |
4 |
1 |
4 |
0.50 |
2 |
TOTALS |
55 |
2.0727 |
114 |
0.50 |
57 |
13. Estimated total annual cost burden to respondents
There will be no annualized capital or start-up costs for the respondents.
14. Estimated cost to the federal government.
None.
15. Reasons for change in burden
This is a 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.
16. Plans for tabulation, statistical analysis and publication
The Treasury Department will use the information to assess compliance. There are no plans for publication.
17. Reasons why displaying the OMB expiration date is inappropriate
Display of the OMB expiration date will create confusion because this program has a limited duration.
18. Exceptions to certification requirement of OMB Form 83-I
Regarding this request for OMB approval, there are no exceptions to the certification statement in item 19 of Form 83-I.
| File Type | application/msword |
| File Title | Department of the Treasury, Departmental Offices |
| Author | reeseci |
| Last Modified By | Reference |
| File Modified | 2011-04-04 |
| File Created | 2011-04-04 |