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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:
1559-0014
ICR Reference No:
200907-1559-001
Status:
Active
Previous ICR Reference No:
200605-1559-001
Agency/Subagency:
TREAS/CDFIF
Agency Tracking No:
Title:
New Markets Tax Credit (NMTC) Program - Community Development Entity (CDE) Certification Application
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:
09/28/2009
Retrieve Notice of Action (NOA)
Date Received in OIRA:
07/29/2009
Terms of Clearance:
Treasury will consider public comment received in future submission.
Inventory as of this Action
Requested
Previously Approved
Expiration Date
09/30/2012
36 Months From Approved
09/30/2009
Responses
300
300
500
Time Burden (Hours)
1,200
1,200
2,500
Cost Burden (Dollars)
0
0
0
Abstract:
The purpose of the NMTC Program is to provide an incentive to investors in the form of a tax credit, which is expected to stimulate investment in new private capital in low income communities. Applicants must be a CDE to apply for allocation.
Authorizing Statute(s):
US Code: 26 USC 45D-1 Name of Law: null
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:
74 FR 20780
05/05/2009
30-day Notice:
Federal Register Citation:
Citation Date:
74 FR 37769
07/29/2009
Did the Agency receive public comments on this ICR?
Yes
Number of Information Collection (IC) in this ICR:
1
IC Title
Form No.
Form Name
New Markets Tax Credit (NMTC) Program - Community Development Entity (CDE) Certification Application
CDFI - 0019
CDFI Fund CDE Certification 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
300
500
0
-200
0
0
Annual Time Burden (Hours)
1,200
2,500
0
-1,300
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:
Yes
Burden Reduction Due to:
Miscellaneous Actions
Short Statement:
The CDFI Fund has created a CDE Certification "Express Option", which will reduce the amount of information and documentation needed for the application if the Applicant can attest that the information for multiple subsidiaries is identical.
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 [PPACA, P.L. 111-148 & 111-152]?
Uncollected
Is this ICR related to the Dodd-Frank Act [Dodd-Frank Wall Street Reform and Consumer Protection Act, P.L. 111-203]?
Uncollected
Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)?
No
Agency Contact:
Chris Stever 2026228322 steverc@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:
07/29/2009
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