Paperwork Reduction Act Submission
Please read the instruction before completing this form. For additional forms or assistance in completing this forms, contact your agency’s Paperwork Reduction Officer. Send two copies of this form, the collection instrument to be reviewed, the Supporting Statement, and any additional documentation to: Office of Information and Regulatory Affairs, Office of Management and Budget, Docket Library, Room 10102, 725 Seventeenth St. NW, Washington, DC 20503.
1. Agency/Subagency Originating Request: U.S. Department of Housing and Urban Development Office of Community Development and Development, Office of Affordable Housing Programs |
2. OMB Control Number: a. 2506-0181
|
b. None
|
|
3. Type of information collection: (check one)
collection for which approval has expired
for which approval has expired
For b-f, note item A2 of Supporting Statement instructions. |
4. Type of review requested: (check one)
5. Small entities: Will this information collection have a significant economic impact on a substantial number of small entities? Yes No 6. Requested expiration date: a. Three years from approval date b. Other (specify)
|
||
7. Title:
Tax Credit Assistance Program (TCAP)
8. Agency form number(s): (if applicable)
None
9. Keywords:
Housing, Grants Administration, Low-income Housing Tax Credit Program, HOME Investment Partnerships Program
10. Abstract:
This information describes the reporting and recordkeeping requirements of the Tax Credit Assistance Program (TCAP). The data required includes program level, project level and beneficiary level information collected and reported on by TCAP grantees. The data identifies who benefits from the TCAP program and how statutory requirements are satisfied. The respondents are State housing credit agencies.
11. Affected public: (mark primary with “P” and all others that apply with “X”) a. Individuals or households e. Farms b. Business or other for-profit f. Federal Government c. Not-for-profit institutions g. P State, Local or Tribal Government |
12. Obligation to respond: (mark primary with “P” and all others that apply with “X”) a. Voluntary b. P Required to obtain or retain benefits c. Mandatory |
|
13. Annual reporting and recordkeeping hour burden: a. Number of respondents 52 b. Total annual responses 1,768 Percentage of these responses collected electronically 100% c. Total annual hours requested 8,320 d. Current OMB inventory 0 e. Difference (+,-) 8,320 f. Explanation of difference: 1. Program change: 8,320 2. Adjustment: |
14. Annual reporting and recordkeeping cost burden: (in thousands of dollars) Do not include costs based on the hours in item 13. a. Total annualized capital/startup costs 0 b. Total annual costs (O&M) 0 c. Total annualized cost requested 0 d. Current OMB inventory 0 e. Difference 0 f. Explanation of difference: 1. Program change: 2. Adjustment: |
|
15. Purpose of Information collection: (mark primary with “P” and all others that apply with “X”) a. X Application for benefits e. X Program planning or management b. X Program evaluation f. Research c. General purpose statistics g. P Requlatory or compliance d. Audit |
16. Frequency of recordkeeping or reporting: (check all that apply) a. Recordkeeping b. Third party disclosure c. Reporting: 1. On occasion 2. Weekly 3. Monthly 4. Quarterly 5. Semi-annually 6. Annually 7. Biennually 8. Other (describe)
|
|
17. Statistical methods: Does this information collection employ statistical methods? Yes No
|
18. Agency contact: (person who can best answer questions regarding the content of this submission) Name: Danielle Frazier Phone: (202) 402-7354
|
|
19. Certification for Paperwork Reduction Act Submissions
On behalf of the U.S. Department of Housing and Urban Development, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9.
Note: The text of 5 CFR 1320.9, and the related provisions of 5 CFR 1320/8(b)(3). appear at the end of the instructions. The certification is to be made with reference to those regulatory provisions as set forth in the instructions.
The following is a summary of the topics, regarding the proposed collections of information, that the certification covers:
It is necessary for the proper performance of agency functions;
It avoids unnecessary duplication;
It reduces burden on small entities;
It uses plain, coherent, and unambiguous terminology that is understandable to respondents;
Its implementation will be consistent and compatible with current reporting and recordkeeping practices;
It indicates the retention periods for recordkeeping requirements;
It informs respondents of the information called for under 5 CFR 1320.8(b)(3):
Why the information is being collected;
Use of the information;
Burden estimate;
Nature of response (voluntary, required for a benefit, or mandatory);
Nature and extent of confidentiality; and
Need to display currently valid OMB control number;
It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to collected (see note in item 19 of the instructions);
It uses effective and efficient statistical survey methodology; and
It makes appropriate use of information technology.
If you are unable to certify compliance with any of these provisions, identify the item below and explain the reason in item 18 of the Supporting Statement.
Signature of Program Official:
X
|
Date: |
Signature of Senior Officer or Designee:
X Lillian Deitzer, Departmental Reports Management Officer, Office of the Chief Information Officer |
|
Signature of Senior Officer or Designee:
X Lillian Deitzer, Departmental Reports Management Officer, Office of the Chief Information Officer |
Date: |
Supporting Statement for Paperwork Reduction Act Submissions
Tax Credit Assistance Program (TCAP)
Circumstances that make the collection of information necessary.
On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act (Recovery Act) of 2009 into law (Public Law 111-5, Section 2, Division A, Title XII of the Recovery Act, entitled “HOME Investment Partnerships Program”). This new law provides $2.25 billion of grant funding for capital investment in Low Income Housing Tax Credit (LIHTC) projects, which cannot move forward because the current economic crisis has reduced the private capital available to them. HUD will administer these funds as the Tax Credit Assistance Program (TCAP). Although these funds were appropriated under the 'HOME Program' heading of the Recovery Act, HOME program requirements do not apply to these funds. However, these funds are subject to Federal grant requirements because they constitute Federal financial assistance. HUD will administer the Tax Credit Assistance Program. Eligible TCAP grantees are the housing credit allocation agencies of the 50 states, the District of Columbia, and the Commonwealth of Puerto Rico.
TCAP grant amounts will be determined by a formula established in the Recovery Act. HUD will award TCAP funds to the housing credit allocating agencies of each state, the District of Columbia and the Commonwealth of Puerto Rico proportionate to the percentage of HOME funds allocated to all the state and local participating jurisdictions in a state under the FY 2008 HOME formula.
The TCAP grantees have completed all of their initial project set-up, including: developing written agreements, setting up activities in IDIS, and using the funding and drawdown screens in IDIS. There are a handful of grantees that are completing their projects in IDIS, but only have to enter data into the completion screens. In addition all of the grantees completed the Financial Closeout form under the previous PRA and only need to complete that form once. So the grantees reporting burden is less than the previous PRA submission.
Pursuant to the Recovery Act, each grantee must commit seventy-five percent of its TCAP funds to projects by February 16, 2010 by entering into a legally binding agreement with the project owner. Each grantee must expend seventy-five percent of its grant for eligible projects by February 16, 2011. Each grantee must expend 100 percent of its grant by February 16, 2012.
In addition, any assistance provided to an eligible low income housing tax credit project under this provision shall be made in the same manner and subject to the same limitations as required under section 42 of the Internal Revenue Code. The Recovery Act further requires grantees to award TCAP funds competitively based on criteria established in their Qualified Allocation Plans, and that priority be given to housing projects that will be completed by February, 2012.
On February 18, 2009, the Office of Management and Budget (OMB) issued Initial Implementing Guidance for the American Recovery and Reinvestment Act of 2009. This guidance spelled out the reporting requirements for funds allocated under the Recovery Act, including TCAP funds. Specifically, the guidance requires quarterly reporting on:
The total amount of recovery funds received from that agency;
The amount of recovery funds received that were obligated and expended to projects or activities. This reporting will also include unobligated Allotment balances to facilitate reconciliations.
A detailed list of all projects or activities for which recovery funds were obligated and expended, including --
The name of the project or activity;
A description of the project or activity;
An evaluation of the completion status of the project or activity;
An estimate of the number of jobs created and the number of jobs retained by the project or activity; and
For infrastructure investments made by State and local governments, the purpose, total cost, and rationale of the agency for funding the infrastructure investment with funds made available under this Act, and name of the person to contact at the agency if there are concerns with the infrastructure investment.
_______________________________________________________________________________________________
Detailed information on any subcontracts or subgrants awarded by the recipient to include the data elements required to comply with the Federal Funding Accountability and Transparency act of 2006 (P.L. 109-282), allowing aggregate reporting on awards below $25,000 or to individuals, as prescribed by the Director of OMB.
The applicable section of the American Recovery and Reinvestment Act (Public Law 111-5, Section 2, Division A, Title XII of the Recovery Act, entitled “HOME Investment Partnerships Program”) is attached to this submission. In addition, the Initial Implementing Guidance for the American Recovery and Reinvestment Act of 2009 issues by OMB on February 18, 2009 is attached to this submission. These two documents mandate and/or authorize the collection of data in this submission.
How the information is used
The respondents are grantee state housing credit allocating agencies, which HUD requires to collect information on the activities undertaken with TCAP funds. HUD collects this information from state housing credit allocating agencies through its Integrated Disbursement and Information System (IDIS). HUD Headquarters will use the information collected through IDIS to track compliance with TCAP’s statutory commitment and expenditure requirements and to generate the OMB prescribed quarterly reports. Program management reports are generated by IDIS to provide data on the status of each state housing credit allocating agency’s commitment and disbursement of TCAP funds. HUD will use this data, as well as the project-specific property, tenant, owner, and financial data to compile quarterly and annual reports to be posted on www.recovery.gov and www.hud.gov/recovery/. On May 4, 2009, HUD issued HUD Notice CPD 09-03, “Implementation of the Tax Credit Assistance Program (TCAP)”. The Notice announces TCAP formula allocations and describes the purpose, background, eligible grantees, projects and uses of funds, program requirements, federal grant requirements, TCAP submission requirements, grant agreement requirements, and training and technical assistance for the TCAP program.
Improved technology.
The collection of TCAP grant and project level information (collection of data on funds management, project and tenant characteristics, and owner data) has been automated by IDIS. IDIS eliminates the need for state housing credit allocating agencies to submit paper reports.
Efforts to identify duplication.
No similar information exists. The information collected through IDIS is project-specific and, therefore, unique to each state housing credit allocating agency’s TCAP program.
Burden to small business or small entities.
None.
Consequences if information is collected less frequently.
The information is collected on a project-by-project basis to permit state housing credit allocating agencies to draw down TCAP funds from the U.S. Treasury and to ensure that TCAP funds are used for eligible purposes. It is not possible to collect the information less frequently. In addition, less frequent data collection would prevent timely reporting of the OMB prescribed reports.
Special circumstances
None.
Public Notice.
HUD Notice CPD 09-03 “Implementation of the Tax Credit Assistance Program (TCAP)” was published on May 4, 2009. The Notice can be found at http://www.hud.gov/.
Payment or gifts.
None.
__________________________________________________________________________________________________
OMB 83-1 10/95
Assurance of Confidentiality
Recipients of the assistance will collect and maintain records of information. Information on activities and expenditures of grant funds is public information and is generally available for disclosure. Recipients are responsible for ensuring confidentiality when public disclosure is not required.
Questions of a Sensitive Nature.
None.
__________________________________________________________________________________________________
OMB 83-1 10/95
Annual Reporting and Recordkeeping Burden
Paperwork Requirement |
Number of Respondents |
Number of Responses |
Total Responses |
Hours Per Response |
Total Hours |
Cost Per Response* |
Total Cost |
IDIS Activity Set-Up and Completion |
52 |
14 |
728 |
10 |
7,280 |
$290.00 |
$211,120 |
Grantee Website Reporting |
52 |
20 |
1,040 |
1 |
1,040 |
$29.00 |
$30,160 |
|
|
|
|
|
|
|
|
TOTAL PAPERWORK BURDEN |
|
|
1,768 |
|
8,320 |
|
$241,280 |
(*This figure is based on GS-11 salary)
Estimate of Total Costs to Respondents
There are no additional costs to the respondents (other than the cost shown in item 12 above).
Estimate of Annualized Cost to Federal Government
The cost to the government to review the submissions and reports (but not including the costs of follow-up management, technical assistance or monitoring) is estimated at $10,400.
|
|
|
|
|
Management Reports |
1 hour X 208 reports |
208 hours |
|
|
|
|
Total hours |
208 hours |
||
|
|
|
|
Total cost to the Federal Government: 208 hours at $50/ hour** (**This figure is based on GS-14 salary) |
$10,400 |
||
Explanation of Program Changes / Adjustments
The TCAP grantees have completed all of their initial project set-up, including: developing written agreements, setting up activities in IDIS, and using the funding and drawdown screens in IDIS. There are a handful of grantees that are completing their projects in IDIS, but only have to enter data into the completion screens. In addition all of the grantees completed the Financial Closeout form under the previous PRA and only need to complete that form once. So the grantees reporting burden is less than the previous PRA submission
Publication of Results
Not later than 10 days after the end of each calendar year quarter, starting on October 10, 2009, each recipient of TCAP funds must report to HUD on those items prescribed by OMB in its Initial Implementing Guidance for the American Recovery and Reinvestment Act of 2009 issued on February 18, 2009.
Display of the Expiration date for OMB Approval of the Information Collection
The Office of Affordable Housing Programs is not seeking to not display the expiration date for OMB approval of the information collection.
Explanation of Each Exception to the Certification Statement
No exceptions are made to the certification statement identified in item 19, “Certification for Paperwork Reduction Act Submissions,” of OMB Form 83-I.
__________________________________________________________________________________________________
OMB 83-1 10/95
OMB 83-I 10/95
| File Type | application/msword |
| File Title | Paperwork Reduction Act Submission |
| Author | WAYNE EDDINS |
| Last Modified By | Urnell Johnson-Spears |
| File Modified | 2013-07-10 |
| File Created | 2013-07-10 |