New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS)

Forms and Documents

Document Name	Status
1559-0024 - Supporting Statement for NMTC ATS (20160928).docx Supporting Statement A	2016-09-28

IC Document Collections

IC ID	Document Title	Status
46658	State, Local, Tribal Govt: New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS) Other-ATS Data Points	Modified
20185	Private Sector: New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS) Other-ATS Data Points	Modified

ICR Details

OMB Control No: 1559-0024	ICR Reference No: 201609-1559-003
Status: Historical Active	Previous ICR Reference No: 201306-1559-003
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS)
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/17/2017
	Date Received in OIRA: 10/13/2016
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2020	36 Months From Approved	02/28/2017
Responses	5,940	0	8,916
Time Burden (Hours)	5,940	0	9,426
Cost Burden (Dollars)	0	0	0

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Abstract: The New Markets Tax Credit Program (NMTC Program) was established by Congress in 2000 to spur new or increased investments into operating businesses and real estate projects located in low-income communities. The NMTC Program attracts investment capital to low-income communities by permitting individual and corporate investors to receive a tax credit against their Federal income tax return in exchange for making equity investments in specialized financial institutions called Community Development Entities (CDEs). Via a competitive process, the Community Development Financial Institutions Fund (CDFI Fund) awards NMTC allocation awards to select CDEs, based upon information submitted in their NMTC Allocation Application. Entities receiving a NMTC allocation must enter into an allocation agreement with the CDFI Fund. The allocation agreement contains the terms and conditions, including all reporting requirements, associated with the receipt of a NMTC allocation. The CDFI Fund requires each CDE to use an electronic data collection and submission system, known as the Allocation Tracking System (ATS) to collect information on investors making Qualified Equity Investments in Community Development Entities. The ATS enhances the allocatee's ability to report such information to the CDFI Fund in a timely fashion. This information is also used by the Treasury Department to (1) monitor the issuance of QEIs to ensure that no allocatee exceeds its allocation authority; (2) ensure that QEIs are issued within the timeframes required by the NMTC Program regulations and the legal agreements signed between the CDFI Fund and the allocatee; and (3) assist with NMTC Program evaluation efforts.

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Authorizing Statute(s): PL: Pub.L. 106 - 554 1(a)(7) Name of Law: Consolidated Appropriations Act, 2001
   US Code: 31 USC 321 Name of Law: null
  

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
60-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 50056	07/29/2016
30-day Notice:	Federal Register Citation:	Citation Date:
	81 FR 70486	10/12/2016
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Private Sector: New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS)
State, Local, Tribal Govt: New Markets Tax Credit (NMTC) Program Allocation Tracking System (ATS)

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ICR Summary 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	5,940	8,916	0	-2,976	0	0
Annual Time Burden (Hours)	5,940	9,426	0	-3,486	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Miscellaneous Actions

Short Statement: Burden estimates updated to reflect actual respondent population and responses over the last three years.

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Annual Cost to Federal Government: $0

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)? No

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: 10/13/2016

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