Bond Guarantee Program

Forms and Documents

Document	Type	Status	Availability
Tertiary Loan Monitoring Report	Form and Instruction	New	Repair queued
Form 4 Annual Assessment Report	Form and Instruction	Modified	Repair queued
Form 7 Certification of Secondary Loan Requirements for Committed Loans	Form	Modified	Repair queued
Form 6 Pledged Loan Monitoring Report	Form and Instruction	Modified	Repair queued
Form 5 Financial Condition Monitoring Report	Form and Instruction	Modified	Repair queued
Form 1 Bond Guarantee Program	Form and Instruction	Modified	Repair queued
1559-0044 - CDFI Bond Guarantee Program SS_FINAL.docx	Supporting Statement A	Uploaded 2021-11-30	Repair queued

IC Document Collections

IC ID	Collection	Type	Status	Form
250585	Tertiary Loan Monitoring Report	Form and Instruction	New
229000	Annual Assessment Report	Form and Instruction	Modified
226541	Certification of Secondary Loan Requirements for Committed Loans	Form	Modified
213052	Pledged Loan Monitoring Report	Form and Instruction	Modified
213045	Financial Condition Monitoring Report	Form and Instruction	Modified
206837	Bond Guarantee Program	Form and Instruction	Modified

ICR Details

OMB Control No: 1559-0044	ICR Reference No: 202111-1559-002
Status: Received in OIRA	Previous ICR Reference No: 201511-1559-001
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Bond Guarantee Program
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 11/30/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	11/30/2021
Responses	990	671
Time Burden (Hours)	9,873	9,276
Cost Burden (Dollars)	0	0

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Abstract: The purpose of the Community Development Financial Institutions (CDFI) Bond Guarantee Program (BG Program) is to support CDFI lending by providing Guarantees for Bonds issued by Qualified Issuers as part of a Bond Issue for Eligible Community or Economic Development Purposes.

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Authorizing Statute(s): PL: Pub.L. 111 - 240 1134, 1703 Name of Law: Small Business Jobs Act of 2010
  

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:
	86 FR 51445	09/15/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 67122	11/24/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 6

IC Title	Form No.	Form Name
Annual Assessment Report	4	Annual Assessment Report
Bond Guarantee Program	1b, 2, 2a, 3a, 1c, 3, 1, 1a	Guarantee Application ,   Guarantee Application - Appendix A-2A Certification Regarding Material Changes to the Qualified Issuer Application ,   Guarantee Application - Appendix A-2C Assurances and Certifications for Qualified Issuer and Guarantee Applications ,   Guarantee Application - Appendix B-ID-Charts and Templates ,   Qualified Issuer Application ,   Qualified Issuer Application - Appendix QI-2-E Notice of Designating Qualified Issuer ,   Secondary Loan Requirements Certification with Itemization of Collateral ,   Itemization of Collateral Form
Certification of Secondary Loan Requirements for Committed Loans	7a, 7	Certification of Secondary Loan Requirements for Committed Loans ,   Secondary Loan Commitment Form
Financial Condition Monitoring Report	5	Financial Condition Monitoring Report
Pledged Loan Monitoring Report	6	Pledged Loan Monitoring Report
Tertiary Loan Monitoring Report	n/a	Tertiary Loan Monitoring (TLM) Report

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ICR Summary of Burden

	Total Request	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	990	671	0	180	139	0
Annual Time Burden (Hours)	9,873	9,276	0	300	297	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

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

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: Per the Final Interim Rule that governs the CDFI BG Program, 12 C.F.R 1808.307(b), the BG Program is responsible for the review and outcome analysis on the current and proposed use of Bond Proceeds in underserved communities. The increase in burden associated with this revision to the CDFI BG Program information collections can primarily be attributed to the addition of one collection to enhance the BG Program’s ability to evaluate the use of Bond Proceeds. This additional collection is the Tertiary Loan Monitoring Report. This additional information collection increases the burden by 300 hours and the total estimated annualized costs by $13,932.00. Additionally, the burden has increase by 297 hours due to better estimates on the number of respondents for the various compliance reports. The BP Program also made revisions to the applications to enhance clarity and the ability to more accurately assess applicants. The changes in the Qualified Issuer Application include requests to have applicants submit internal controls and policies and the most recent four years of audited financial statements and management letters. The changes in the Guarantee Application include requests to: submit the application conflict of interest policies; the number and average size of loans pledged as collateral to meet an overcollateralization requirement; the proposed net interest margin between the Bond Loan and the Secondary Loan interest rates; the certification of any Affiliates of a Controlling CDFI entity; explanation of how the Affiliate’s assets would be commingled in a bankruptcy estate; permission from other Federal Credit programs if a credit enhancement will be used from another Federal Credit program; four years of audited financial statements; and management letters for the Eligible CDFI and the third-party credit enhancement entity. The total requested hours increases to 9,873 and the estimated annualized cost for all current and proposed information collections under this OMB Control Number will be $683,859.00.

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Annual Cost to Federal Government: $15,000

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? No

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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: 11/30/2021

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