Bank Enterprise Award Program Application

Forms and Documents

Document Name	Status
Form CDFI-0002 Bank Enterprise Award Program Application Form and Instruction	Modified
1559-0005 SS for FY 2020-22 BEA Program Application (2020).docx Supporting Statement A	2020-01-28

IC Document Collections

IC ID	Document Title	Status
187223	Bank Enterprise Award Program Application Form and Instruction	Modified

ICR Details

OMB Control No: 1559-0005	ICR Reference No: 202001-1559-001
Status: Active	Previous ICR Reference No: 201701-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Bank Enterprise Award Program Application
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: 03/20/2020
	Date Received in OIRA: 02/03/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	03/31/2023	36 Months From Approved	03/31/2020
Responses	120	0	100
Time Burden (Hours)	7,200	0	4,500
Cost Burden (Dollars)	0	0	0

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Abstract: The purpose of the Bank Enterprise Award Program (BEA Program) is to provide an incentive to Federal Deposit Insurance Corporation-insured (FDIC-insured) depository institutions to increase their lending, investment, and financial services to residents and businesses located in economically distressed communities, and provide assistance to Community Development Financial Institutions (CDFIs) through grants, stock purchases, loans, deposits, and other forms of financial and technical assistance. The CDFI Fund will make awards through the BEA Program to FDIC-insured depository institutions, based upon such institutions' demonstrated increase of qualified activities, as reported in the Application. The Application will solicit information concerning: Applicants' eligibility to participate in the BEA Program; the increase in total dollar value of applicants' qualified activities; impact of qualified activities; and appropriate supporting documentation. The questions that the Application contains, and the information generated thereby, will enable the CDFI Fund to evaluate applicants' activities and determine the extent of applicants' eligibility for BEA Program awards.

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Authorizing Statute(s): US Code: 12 USC 1834a Name of Law: Assessment credits for qualifying activities relating to distressed communities
  

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:
	84 FR 55223	10/15/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 5779	01/31/2020
Did the Agency receive public comments on this ICR? Yes

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Bank Enterprise Award Program Application	CDFI-0002	Bank Enterprise Award Program Application

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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	120	100	0	0	20	0
Annual Time Burden (Hours)	7,200	4,500	0	0	2,700	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: No

Burden Reduction Due to:

Short Statement: There is an increase of 2,700 hours of burden due to an adjustment of agency estimates. The CDFI Fund has adjusted its burden estimates based on an analysis of application data, which show an average of 120 applicants, an increase of 20 from previous estimates. The estimated time required to complete the BEA application has also been adjusted in response to public comments, increasing to 60 hours per application. The BEA Program has not materially changed, and the proposed FY 2020 – 2022 BEA Program application is substantially similar to what was approved in 2016, for FY 2017-2019 application rounds. One minor change to the FY 2020-2022 BEA Program application is new data fields for applicants to report the percentage of the prospective award that will be invested in Persistent Poverty Counties (PPCs). In FY 2012, 2013, 2017, 2018, and 2019 Congress required that at least 10 percent of the funds awarded by the CDFI Fund to BEA Program award recipients be used for activities that serve populations living in PPCs. The CDFI Fund made the decision to wait until the next PRA Renewal of the BEA Program application to add these data fields. The addition of these data fields will formally update the BEA Program application to reflect the Congressional PPC mandate and allow the CDFI Fund to continue to collect the data needed to ensure that future Congressional PPC mandates are met. This change is not expected to increase or decrease the total burden hours per application.

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Annual Cost to Federal Government: $855,143

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     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: 02/03/2020

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