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 complete the annual reports in PDF form and return the reports via email. Data from reports will be stored electronically. OFS has made the forms available electronically via the Treasury website.
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
A notice was published in the Federal Register on July 16, 2014 at 79 FR 41626, soliciting public comments. No comments were received as the result of this notice.
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
No Personally Identifiable Information (PII) is collected.
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 an extension of a currently approved collection.
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 | Johnson, Sonya |
| File Modified | 2014-10-31 |
| File Created | 2014-10-31 |