Notice2024-14440
Notice of Information Collection and Request for Public Comment
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
July 1, 2024
Issuing agencies
Treasury DepartmentCommunity Development Financial Institutions Fund
Abstract
The U.S. Department of the Treasury, as part of a continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act (PRA) of 1995. Currently, the Community Development Financial Institutions Fund (CDFI Fund), Department of the Treasury, is soliciting comments concerning the Capital Magnet Fund (CMF) reporting and record retention requirements of the CMF Annual Performance Report (CMF Performance Report). The CMF Performance Report is an online form submitted through the CDFI Fund's Awards Management Information System (AMIS).
Full Text
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<title>Federal Register, Volume 89 Issue 126 (Monday, July 1, 2024)</title>
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[Federal Register Volume 89, Number 126 (Monday, July 1, 2024)]
[Notices]
[Pages 54644-54645]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-14440]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Notice of Information Collection and Request for Public Comment
ACTION: Notice and request for public comment.
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SUMMARY: The U.S. Department of the Treasury, as part of a continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed and/or continuing information collections, as required by
the Paperwork Reduction Act (PRA) of 1995. Currently, the Community
Development Financial Institutions Fund (CDFI Fund), Department of the
Treasury, is soliciting comments concerning the Capital Magnet Fund
(CMF) reporting and record retention requirements of the CMF Annual
Performance Report (CMF Performance Report). The CMF Performance Report
is an online form submitted through the CDFI Fund's Awards Management
Information System (AMIS).
DATES: Written comments must be received on or before August 30, 2024.
Comments can be submitted electronically via the e-Rulemaking Portal:
<a href="http://www.regulations.gov">www.regulations.gov</a>.
ADDRESSES: You may submit comments concerning the CMF Performance
Report via the Federal e-Rulemaking Portal at <a href="http://www.regulations.gov">www.regulations.gov</a>.
Follow the instructions on the website for the submission of comments.
In general, all comments will be available for inspection at
<a href="http://www.regulations.gov">www.regulations.gov</a>. Comments, including attachments and other
supporting materials, are part of the public record. Do not submit any
information in your comments or supporting materials that you consider
confidential or inappropriate for public disclosure. 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>.
FOR FURTHER INFORMATION CONTACT: Heather Hunt, OCME Program Manager,
CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania Avenue
NW, Washington DC 20220, (202) 453-2044 (not a toll-free number). Other
information regarding the CDFI Fund and its programs may be obtained on
the CDFI Fund website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>. The CMF Performance
Report Data Points are provided to aid the public in providing comments
requested by this notice, and presents the information proposed to be
collected in the online CMF Performance Report. Changes being made to
the CMF Performance Report are identified in the second column of the
data point guidance, including proposed deletions, additions, and
updates. The CMF Performance Report Data Points may be obtained from
the CMF compliance page of the CDFI Fund website at <a href="https://www.cdfifund.gov/programs-training/programs/cmf/compliance-step">https://www.cdfifund.gov/programs-training/programs/cmf/compliance-step</a>.
SUPPLEMENTARY INFORMATION:
Title: Capital Magnet Fund Performance Report.
OMB Number: 1559-NEW.
Type of Review: Regular Review.
Abstract: The Capital Magnet Fund was established through the
Housing and Economic Recovery Act of 2008 (HERA) (Pub. L. 110-289), as
a competitive grant program administered by the CDFI Fund. Through CMF,
the CDFI Fund provides financial assistance grants to Certified
Community Development Financial Institutions (CDFIs) and qualified
Nonprofit Organizations that have the development or management of
Affordable Housing, as defined in 12 CFR 1807, as one of their
principal purposes. Capitalized terms not defined in this Notice (other
than titles) have the meaning set forth in the CMF Interim Rule (12 CFR
1807). CMF Awards must be used to attract private financing for and
increase investment in: (i) the Development, Preservation,
Rehabilitation, and Purchase of Affordable Housing for primarily
Extremely Low-, Very Low-, and Low-Income Families; and (ii) Economic
Development Activities which, in conjunction with Affordable Housing
Activities, will implement a Concerted Strategy to stabilize or
revitalize a Low-Income Area or an Underserved Rural Area. CMF Award
Recipients enter into Assistance Agreements with the CDFI Fund that set
forth required terms and conditions of the Award, including reporting
and data collection requirements. The Assistance Agreement requires the
submission of an annual CMF Performance Report. The information
collected in the CMF Performance Report is reviewed to ensure the
Recipient's compliance with its Performance Goals and contractual
obligations, as well as the overall performance of the program. Data
collected through the CMF Performance Report consists of three
categories of data: (1) mandatory data points, (2) conditionally
required data points based on project characteristics, financing type
or other condition, and (3) optional data points. For most compliance
measures, AMIS calculates whether the Recipient is compliant or
noncompliant based on the data reported into the system. When the
system determines that a noncompliance has occurred, the Recipient is
required to complete an explanation of noncompliance prior to
submitting the report to the CDFI Fund. This notice requests PRA
approval for the CMF Performance Report. This report is a modified
version of the previous CMF Performance Report, which was under OMB
Number 1559-0036.
Estimated Number of Respondents: 330.
Estimated Annual Time per Respondent: 20 hours.
Estimated Annual Burden Hours: 6,600 hours.
Request for Comments: Comments submitted in response to this Notice
will be summarized and/or included in the request for Office of
Management and Budget approval. All comments will become a matter of
public record and may be published on the CDFI Fund website at <a href="https://www.cdfifund.gov">https://www.cdfifund.gov</a>. The CDFI Fund is seeking input on the
[[Page 54645]]
content of the proposed CMF Performance Report with regard to the
following: (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 collecting the
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 required to provide
the information.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number.
Authority: Pub. L. 110-289, 12 CFR 1807.
Pravina Raghavan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2024-14440 Filed 6-28-24; 8:45 am]
BILLING CODE 4810-70-P
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