Community Development Financial Institutions Fund FY 2022 CDFI Equitable Recovery Program Application. 

Forms and Documents

Document Name	Status
FY 2022 CDFI Equitable Recovery Program Application Form and Instruction	New
1559-NEW FY 2022 MLP Glossary_Final for Approval Clean.docx Supplementary Document	2022-06-14
Emergency Justification Memo to OMB - 1559-NEW CDFI ERP 2022-05-11.docx Supplementary Document	2022-06-14
1559-NEW Supporting Statement (Emergency Clearance) - CDFI Equitable Recovery Program 2022-06-01.docx Supporting Statement A	2022-06-14

IC Document Collections

IC ID	Document Title	Status
254246	FY 2022 CDFI Equitable Recovery Program Application Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202206-1559-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/CDFIF	Agency Tracking No: 1559-NEW
Title: Community Development Financial Institutions Fund FY 2022 CDFI Equitable Recovery Program Application.
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 06/14/2022
Date Submitted to OIRA: 06/14/2022

	Requested	Previously Approved
Expiration Date	6 Months From Approved
Responses	450	0
Time Burden (Hours)	29,250	0
Cost Burden (Dollars)	0	0

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Abstract: The CDFI Fund will provide awards of up to $15 million to Certified Community Development Financial Institutions (CDFIs) (1) to expand lending, grant making and investment activities in low- to moderate-income communities that have historically experienced significant unmet capital and financial services needs and were disproportionately impacted by the COVID-19 pandemic; and (2) to enable CDFIs to build organizational capacity and acquire technology, staff, and other items necessary to accomplish the CDFI ERP objectives.

Emergency Justfication: The CDFI ERP funds appropriated under the Supplemental Appropriations Act, cited above, were intended by Congress to provide expeditious relief related to the COVID-19 pandemic. In May and June of 2021, federal courts imposed preliminary injunctions on certain coronavirus relief programs that involved race-based policies. Because the statutory language for this program also included race-based policies related to dissemination of the funding, the court rulings necessitated extensive collaboration between Treasury Office of General Counsel, Department of Justice, and White House Counsel’s office to determine an appropriate approach related to the structuring of the CDFI Equitable Recovery Program. Only after those issues were resolved could Treasury commence with developing the program application and award criteria.

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Authorizing Statute(s): PL: Pub.L. 116 - 260 523 Name of Law: The Coronavirus Response and Relief Supplemental Consolidated Appropriations Act of 2021
  

Citations for New Statutory Requirements: PL: Pub.L. 116 - 260 523 Name of Law: The Coronavirus Response and Relief Supplemental Consolidated Appropriations Act of 2021

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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

Did the Agency receive public comments on this ICR? No

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

IC Title	Form No.	Form Name
FY 2022 CDFI Equitable Recovery Program Application	N/A	FY 2022 CDFI Equitable Recovery Program Application.

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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	450	0	450	0	0	0
Annual Time Burden (Hours)	29,250	0	29,250	0	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: No

Burden Reduction Due to:

Short Statement: This is a new program authorized by statute.

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Annual Cost to Federal Government: $0

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? Yes

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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: 06/14/2022

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