[Federal Register Volume 81, Number 146 (Friday, July 29, 2016)]
[Notices]
[Pages 50056-50057]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-17996]
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DEPARTMENT OF THE TREASURY
Community Development Financial Institutions Fund
Agency Information Collection Activities; Proposals, Submissions,
and Approvals
AGENCY: Community Development Financial Institutions Fund, Treasury.
ACTION: Notice and request for comments.
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SUMMARY: The U.S. Department of the Treasury, as part of its continuing
effort to reduce paperwork and respondent burden, invites the general
public and other Federal agencies to take this opportunity to comment
on proposed information collections, as required by the Paperwork
Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).
Currently, the Community Development Financial Institutions Fund (the
CDFI Fund), the Department of the Treasury, is soliciting comments
concerning modifying the Bank Enterprise Award Program (BEA Program)
Report Form to a form that may be used for the Community
[[Page 50057]]
Development Financial Institutions Program (CDFI Program) and Native
American CDFI Assistance Program (NACA Program). The form will be
renamed the Uses of Award Report Form in an effort by the CDFI Fund to
create uniform reporting requirements.
DATES: Written comments should be received on or before September 27,
2016 to be assured of consideration.
ADDRESSES: Submit your comments via email to Michael Banks, Associate
Program Manager, CDFI Fund, at [email protected].
FOR FURTHER INFORMATION CONTACT: Michael Banks, Associate Program
Manager, CDFI Fund, U.S. Department of the Treasury, 1500 Pennsylvania
Avenue NW, Washington, DC 20220. The Uses of Award Report Form may be
obtained from the CDFI Fund's Web site at http://www.cdfifund.gov/bea
under How to Apply Step 5: Compliance and Reporting or http://www.cdfifund.gov/cdfi under How to Apply Step 4: Compliance and
Reporting.
SUPPLEMENTARY INFORMATION: Title: Uses of Award Report Form (formerly
BEA Program Award Report Form).
OMB Number: 1559-0032.
Abstract: The purpose of the BEA Program is to provide an incentive
to insured depository institutions to increase their activities in the
form of loans, investments, services, and technical assistance within
distressed communities and provide financial assistance to certified
Community Development Financial Institutions (CDFIs) through grants,
stock purchases, loans, deposits, and other forms of financial and
technical assistance. Applicants submit applications and are evaluated
in accordance with statutory and regulatory requirements (12 CFR 1806),
and requirements that are set forth in the annual Notice of Funds
Availability. The CDFI Fund requires BEA Program Award Recipients to
use BEA Program Awards for BEA Program Qualified Activities, as defined
in the BEA Program regulations. Recipients are required to report to
the CDFI Fund on their Qualified Activities per their Assistance
Agreements.
The CDFI Program is authorized by the Riegle Community Development
Banking and Financial Institutions Act of 1994 (Pub. L. 103-325, 12
U.S.C. 4701 et seq.). The CDFI Program uses federal resources to invest
in and build the capacity of CDFIs to serve low-income people and
communities lacking adequate access to affordable financial products
and services. The CDFI Fund created the Native Initiatives, which
includes the NACA Program, to further support the creation and
expansion of Native CDFIs. Through the CDFI Program and NACA Program,
the CDFI Fund provides: (1) Financial Assistance (FA) awards to CDFIs
and Native CDFIs that have Comprehensive Business Plans for creating
demonstrable community development impact through the deployment of
credit, capital, and financial services within their respective Target
Markets or the expansion into new Investment Areas, Low-Income Targeted
Populations, or Other Targeted Populations, and (ii) Technical
Assistance (TA) grants to CDFIs and Native CDFIs and entities proposing
to become CDFIs or Native CDFIs in order to build their capacity to
better address the community development and capital access needs of
their existing or proposed Target Markets and/or to become certified
CDFIs. CDFI Program applicants submit applications and are evaluated in
accordance with statutory and regulatory requirements (12 CFR 1805),
and requirements that are set forth in an annual Notice of Funds
Availability. NACA Program applicants submit applications and are
evaluated in accordance with requirements that are set forth in an
annual Notice of Funds Availability. Recipients with FA or TA awards
are required to report to the CDFI Fund on the uses of those funds per
their Assistance Agreements.
In an effort to create uniformity in reporting across the CDFI
Fund, the CDFI Fund seeks to revise the BEA Program Award Report Form
and rename it the ``Uses of Award Report Form.'' The BEA Program Award
Report Form is currently required for Recipients of awards under the
BEA Program. These revisions would allow the form to also be used by
the Community Development Financial Institutions Program (CDFI Program)
and Native American CDFI Assistance Program (NACA Program). This
request for public comment seeks to gather information on the revised
Use of Award Report Form.
Current Actions: Renewal and revision of an existing Information
Collection.
Type of Review: Regular Review.
Affected Public: Recipients of BEA Program awards.
Estimated Number of BEA Program Respondents: 80.
Estimated Annual Time per BEA Program Respondent: 1 hour.
Affected Public: Recipients of CDFI or NACA Program awards.
Estimated Number of CDFI and NACA Program Respondents: 245.
Estimated Annual Time CDFI and NACA Program per Respondent: 1 hour.
Estimated Total Annual Burden Hours: 325 hours.
Requests For Comments: Comments submitted in response to this
notice will be summarized and/or included in the request for Office of
Management and Budget (OMB) approval. All comments will become a matter
of public record and will be published on the CDFI Fund Web site at
http://www.cdfifund.gov.
Comments are invited on: (a) whether the collection of information
is necessary for the proper performance of the functions of the agency,
including whether the information shall have practical utility; (b) the
accuracy of the agency's estimate of the burden of the collection of
information; (c) ways to enhance the quality, utility, and clarity of
the information 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.
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collections of
information displays a valid OMB control number.
Authority: 12 U.S.C. 4704, 4713; 12 CFR parts 1805 and 1806.
Mary Ann Donovan,
Director, Community Development Financial Institutions Fund.
[FR Doc. 2016-17996 Filed 7-28-16; 8:45 am]
BILLING CODE 4810-70-P