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TREAS/CDFIF RIN: 1559-AA03 Publication ID: Fall 2023 
Title: ●Capital Magnet Fund 

Update the current CMF regulations to: (1) clarify terms, concepts and requirements of the CMF program to improve CMF recipients’ understanding of their obligation and requirements under the program; (2) ensure the CMF program requirements adequately address activities and current business practices in the affordable housing industry; (3) reduce the burden of administering CMF Awards for CMF recipients while ensuring accountability; (4) better align the CMF program with other federal assistance programs; and (5) better promote and incorporate policy priorities such as economic development in conjunction with affordable housing and affordable homeownership to the CMF program.

Agency: Department of the Treasury(TREAS)  Priority: Substantive, Nonsignificant 
RIN Status: First time published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: No  Unfunded Mandates: No 
CFR Citation: 12 CFR 1807   
Legal Authority: Pub. L. 110-289   
Legal Deadline:  None
Action Date FR Cite
RFI  07/07/2023  88 FR 43414   
RFI Comment Period End  09/05/2023 
Interim Final Rule  04/00/2024 
Regulatory Flexibility Analysis Required: No  Government Levels Affected: None 
Small Entities Affected: Businesses, Organizations  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Andrew Schlack
Department of the Treasury
Community Development Financial Institutions Fund
1500 Pennsylvania Avenue NW,
Washington, DC 20220
Phone:202 341-5816