Department of the Treasury, Departmental Offices
Grants to States for Low-Income Housing Projects in lieu of Tax Credits
OMB Control Number 1505-0218
Supporting Statement and Request for Clearance
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.
Treasury collects the information from state housing finance agencies who are awardees in the program. 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.
Awardees complete the annual reports in an Excel spreadsheet and return the reports via email. Data from reports will be stored electronically. OFS has made the forms available electronically via the Treasury website.
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.
No small entities are participating in the program.
Not applicable.
There are no special circumstances that require the information be collected in a manner inconsistent with OMB guidelines.
A notice was published in the Federal Register on February 1, 2016 at 81 FR 5164, soliciting public comments. No comments were received as the result of this notice.
No payment or gift is provided to respondents.
The information collected will not contain personal identification information.
No personally identifiable information (PII) is collected.
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. The estimated number of respondents for this portion of the collection is four. It will take approximately 30 minutes to complete. The estimated annual burden is two hours.
The total annual burden for the collection is 57 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 |
There will be no annualized capital or start-up costs for the respondents.
There is no estimated cost to the federal government.
This is an extension of a currently approved collection.
The Treasury Department will use the information to assess compliance. There are no plans for publication.
Display of the OMB expiration date will create confusion because this program has a limited duration.
Regarding this request for OMB approval, there are no exceptions to the certification requirement.
| File Type | application/msword |
| File Title | Department of the Treasury, Departmental Offices |
| Author | reeseci |
| Last Modified By | B. Simms, PTR |
| File Modified | 2016-03-31 |
| File Created | 2016-03-31 |