Notice2023-05089
Agency Information Collection Activities; Proposed Collection; Comment Request; New Markets Tax Credit Program Community Development Entity (CDE) Certification Application
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
March 14, 2023
Issuing agencies
Treasury Department
Abstract
The Community Development Financial Institutions Fund (CDFI Fund), U.S. Department of the Treasury, is soliciting comments concerning the New Markets Tax Credit Program (NMTC Program) Community Development Entity (CDE) Certification Application as required by the Paperwork Reduction Act of 1995 (PRA).
Full Text
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<title>Federal Register, Volume 88 Issue 49 (Tuesday, March 14, 2023)</title>
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[Federal Register Volume 88, Number 49 (Tuesday, March 14, 2023)]
[Notices]
[Pages 15853-15854]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-05089]
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DEPARTMENT OF THE TREASURY
Agency Information Collection Activities; Proposed Collection;
Comment Request; New Markets Tax Credit Program Community Development
Entity (CDE) Certification Application
AGENCY: Community Development Financial Institutions Fund, U.S.
Department of the Treasury.
ACTION: Notice and request for public comment.
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SUMMARY: The Community Development Financial Institutions Fund (CDFI
Fund), U.S. Department of the Treasury, is soliciting comments
concerning the New Markets Tax Credit Program (NMTC Program) Community
Development Entity (CDE) Certification Application as required by the
Paperwork Reduction Act of 1995 (PRA).
DATES: Written comments must be received on or before May 15, 2023 to
be assured of consideration.
ADDRESSES: Submit your comments via email to Michelle Dickens, Office
of Certification, Policy and Evaluation (OCPE) Program Manager, CDFI
Fund, at <a href="/cdn-cgi/l/email-protection#86e5e5ebe3c6e5e2e0efa8f2f4e3e7f5a8e1e9f0"><span class="__cf_email__" data-cfemail="1e7d7d737b5e7d7a7877306a6c7b7f6d30797168">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Michelle Dickens, OCPE Program
Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania
Avenue NW, Washington, DC 20220 or (202) 653-0335 (not a toll free
number). Other information regarding the CDFI Fund and its programs may
be obtained through the CDFI Fund's website at <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>.
SUPPLEMENTARY INFORMATION:
Title: New Markets Tax Credit Program Community Development Entity
(CDE) Certification Application.
OMB Control Number: 1559-0014.
Abstract: Title I, subtitle C, section 121 of the Community Renewal
Tax Relief Act of 2000 (the Act), as enacted in the Consolidated
Appropriations Act, 2001 (Pub. L. 106-554, December 21, 2000), amended
the Internal Revenue Code (IRC) by adding IRC 45D and created the NMTC
Program. The Department of the Treasury, through the
[[Page 15854]]
CDFI Fund, administers the NMTC Program, which provides an incentive to
investors in the form of tax credits over seven years, expected to
stimulate the provision of private investment capital that, in turn,
will facilitate economic and community development in low-income
communities. In order to qualify for an allocation of tax credits
through the NMTC Program, an entity must be certified as a qualified
CDE and submit an allocation application to the CDFI Fund. Nonprofit
entities and for-profit entities may be certified as CDEs by the CDFI
Fund. In order to be certified as a CDE, an entity must be a domestic
corporation or partnership, that: (1) has a primary mission of serving
or providing investment capital for low-income communities or low-
income persons; and (2) maintains accountability to residents of low-
income communities through their representation on any governing or
advisory board of the entity.
Current Actions: Renewal of existing information collection.
Type of Review: Regular review.
Affected Public: CDEs and entities seeking CDE certification,
including business or other for-profit institutions, nonprofit
entities, and State, local and Tribal entities.
Estimated Number of Respondents: 300.
Estimated Annual Time per Respondent: 4 hours.
Estimated Total Annual Burden Hours: 1,200 hours.
Requests for Comments: Comments submitted in response to this
notice will be summarized and/or included in the request for OMB
approval. All comments will become a matter of public record and may be
published on the CDFI Fund website at <a href="http://www.cdfifund.gov">http://www.cdfifund.gov</a>. Comments
are invited on: (a) whether the collection of information is necessary
for the proper performance of the functions of the CDFI Fund, including
whether the information shall have practical utility; (b) the accuracy
of the CDFI Fund's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information to be collected; (d) ways to minimize the burden of the
collection of information on respondents, including through the use of
technology; and (e) estimates of capital or start-up costs and costs of
operation, maintenance, and purchase of services to provide
information.
Authority: 44 U.S.C. 3501 et seq.
Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2023-05089 Filed 3-13-23; 8:45 am]
BILLING CODE 4810-70-P
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