New Markets Tax Credit (NMTC) Program Allocation and Qualified Equity Tracking (AQEI) System

Forms and Documents

Forms and supporting documents for this ICR

Document	Type	Status	Availability
AQEI - Public Comment Table - March2023.xlsx	Supplementary Document	Uploaded 2023-04-28	Repair queued
1559-0024 AQEI - Supporting Statement March2023.docx	Supporting Statement A	Uploaded 2023-04-28	Repair queued

IC Document Collections

Information collection document groups

IC ID	Collection	Type	Status	Form
46658	State, Local, Tribal Govt: New Markets Tax Credit (NMTC) Program Allocation and Qualified Equity Tracking (AQEI) System	Other-NMTC AQEI Tracking Guidance	Modified
20185	Private Sector: New Markets Tax Credit (NMTC) Program Allocation and Qualified Equity Tracking (AQEI) System	Other-NMTC AQEI Tracking Guidance	Modified

ICR Details

OMB Control No: 1559-0024	ICR Reference No: 202304-1559-001
Status: Active	Previous ICR Reference No: 202002-1559-002
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: New Markets Tax Credit (NMTC) Program Allocation and Qualified Equity Tracking (AQEI) System
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: 06/27/2023
Retrieve Notice of Action (NOA)	Date Received in OIRA: 04/28/2023
Terms of Clearance:

table that charts list comparision

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	06/30/2026	36 Months From Approved	06/30/2023
Responses	1,248	0	1,872
Time Burden (Hours)	2,080	0	2,808
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 required each Allocatee to use an electronic data collection and submission system, known as the Allocation Tracking System (ATS), to report on the information related to its receipt of a Qualified Equity Investment (QEI). As of May 2018, the ATS function was renamed as the NMTC Allocation and Qualified Equity Investment Tracking System (AQEI) and moved to the CDFI Fund’s Awards Management Information System (AMIS), a business system that supports all CDFI Fund programs through each phase of the programs’ life cycle.

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

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:
	87 FR 73070	11/28/2022
30-day Notice:	Federal Register Citation:	Citation Date:
	88 FR 25072	04/25/2023
Did the Agency receive public comments on this ICR? Yes

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

table that charts list of burden

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

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ICR Summary of Burden

table that charts list 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	1,248	1,872	0	0	-624	0
Annual Time Burden (Hours)	2,080	2,808	0	0	-728	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 a slight increase in the burden per response (from 1.5 to 1.7 hours) due to the inclusion of the QEI Closeout module along with the AQEI module. The QEI Closeout Report was initially launched as a non-substantive change to the companion report, the Transaction Level Report, but given its association with the end of the QEI tax credit period, a decision was made to include it under this data collection. However there is a decrease of 728 hours in the total estimated burden due to a reduction in the estimated number of respondents, based on recent data.

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Annual Cost to Federal Government: $6,490

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: 04/28/2023

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