New Markets Tax Credit (NMTC) Program--Community Development Entity (CDE) Certification Application

Forms and Documents

Document Name	Status
Form CDFI-0019 New Markets Tax Credit (NMTC) Program - Community Development Entity (CDE) Certification Application Form and Instruction	Modified
1559-0014 - Supporting Statement - CDE Certification Application PRA 2_25_2020.docx Supporting Statement A	2020-02-27

IC Document Collections

IC ID	Document Title	Status
20173	New Markets Tax Credit (NMTC) Program - Community Development Entity (CDE) Certification Application Form and Instruction	Modified

ICR Details

OMB Control No: 1559-0014	ICR Reference No: 202002-1559-003
Status: Active	Previous ICR Reference No: 201608-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: New Markets Tax Credit (NMTC) Program--Community Development Entity (CDE) Certification Application
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 04/23/2020
	Date Received in OIRA: 02/27/2020
Terms of Clearance: ROCIS updated during review to reflect that public comments were received.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	04/30/2023	36 Months From Approved	04/30/2020
Responses	300	0	300
Time Burden (Hours)	1,200	0	1,125
Cost Burden (Dollars)	0	0	0

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Abstract: The purpose of the NMTC Program is to provide an incentive to investors in the form of a tax credit, which is expected to stimulate investment in new private capital in low-income communities. In order to qualify for a NMTC Program allocation award from the CDFI Fund, an applicant must be certified by the CDFI Fund as a Community Development Entity (CDE). The CDE Certification Application is used to determine whether an entity seeking CDE certification meets the CDFI Fund’s requirements for such certification.

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Authorizing Statute(s): US Code: 26 USC 45D-1 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:
	84 FR 71077	12/26/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 11179	02/26/2020
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
New Markets Tax Credit (NMTC) Program - Community Development Entity (CDE) Certification Application	CDFI-0019	CDFI Fund Community Development Entity Certification 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	300	300	0	0	0	0
Annual Time Burden (Hours)	1,200	1,125	0	0	75	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: The CDFI Fund has removed unused data points from this collection; however, the overall burden per response is being increased by 15 minutes due to an adjustment in agency estimates. The Fund believes that 4 hours is a more accurate estimate of the time required per response.

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Annual Cost to Federal Government: $175,200

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: 02/27/2020

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