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View Information Collection (IC) List
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Please note that the OMB number and expiration date may not have been determined when this Information Collection Request and associated Information Collection forms were submitted to OMB. The approved OMB number and expiration date may be found by clicking on the Notice of Action link below.
View ICR - OIRA Conclusion
OMB Control No:
1559-0016
ICR Reference No:
200711-1559-002
Status:
Historical Active
Previous ICR Reference No:
200608-1559-002
Agency/Subagency:
TREAS/CDFIF
Agency Tracking No:
Title:
New Markets Tax Credit (NMTC) Program Allocation Application
Type of Information Collection:
No material or nonsubstantive change to a currently approved collection
Common Form ICR:
No
Type of Review Request:
Regular
OIRA Conclusion Action:
Approved without change
Conclusion Date:
01/17/2008
Retrieve Notice of Action (NOA)
Date Received in OIRA:
12/21/2007
Terms of Clearance:
Inventory as of this Action
Requested
Previously Approved
Expiration Date
10/31/2009
10/31/2009
10/31/2009
Responses
240
0
245
Time Burden (Hours)
40,800
0
41,650
Cost Burden (Dollars)
0
0
0
Abstract:
The New Markets Tax Credit (NMTC) Program will provide an incentive to investors in the form of a tax credit, which is expected to stimulate investment in private capital that, and in turn, will facilitate economic and community development in low-income communities. In order to qualify for an allocation of tax credits under the NMTC Program an entity must be certified as a qualified community development entity and submit an allocation application to the CDFI Fund. Upon receipt of such applications, the CDFI Fund will conduct a competitive review process to evaluate applications for the receipt of NMTC allocations.
Authorizing Statute(s):
US Code:
26 USC 45D-1
Citations for New Statutory Requirements:
None
Associated Rulemaking Information
RIN:
Stage of Rulemaking:
Federal Register Citation:
Date:
1545-AY87
Final or interim final rulemaking
69 FR 77625
12/28/2004
Federal Register Notices & Comments
60-day Notice:
Federal Register Citation:
Citation Date:
70 FR 248
12/28/2005
30-day Notice:
Federal Register Citation:
Citation Date:
71 FR 50117
08/24/2006
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
2
IC Title
Form No.
Form Name
New Markets Tax Credit (NMTC) Program Allocation Application
CDFI 0020, CDFI 0020
CDFI Fund New Markets Tax Credit Program 2007 Application
,
2008 NMTC Program Allocation Application
New Markets Tax Credit (NMTC) Program Allocation Application
CDFI 0020, CDFI 0020
CDFI Fund New Markets Tax Credit Program 2007 Application
,
2008 NMTC Program Allocation Application
ICR Summary 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
240
245
0
-5
0
0
Annual Time Burden (Hours)
40,800
41,650
0
-850
0
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:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
Some questions related to the additional $400 million in allocation authority available in 2007 under the Gulf Opportunity Zone (GO Zone) Act of 2005 that is no longer available were removed; the removal of other questions deemed redundant or not relevant for review; and the significant decrease in the length of narrative responses permitted in the application.
Annual Cost to Federal Government:
$0
Does this IC contain surveys, censuses, or employ statistical methods?
No
Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002?
No
Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
Uncollected
Is this ICR related to the Pandemic Response?
Uncollected
Agency Contact:
Matt Josephs 202 622-9254 josephsm@cdfi.treas.gov
Common Form ICR:
No
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:
12/21/2007