[Federal Register Volume 81, Number 197 (Wednesday, October 12, 2016)]
[Notices]
[Page 70486]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-24565]


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DEPARTMENT OF THE TREASURY


Submission for OMB Review; Comment Request

    The Department of the Treasury will submit the following 
information collection request(s) to the Office of Management and 
Budget (OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, Public Law 104-13, on or after the date of 
publication of this notice.

DATES: Comments should be received on or before November 14, 2016 to be 
assured of consideration.

ADDRESSES: Send comments regarding the burden estimates, or any other 
aspect of the information collection(s), including suggestions for 
reducing the burden, to (1) Office of Information and Regulatory 
Affairs, Office of Management and Budget, Attention: Desk Officer for 
Treasury, New Executive Office Building, Room 10235, Washington, DC 
20503, or email at [email protected] and (2) Treasury PRA 
Clearance Officer, 1750 Pennsylvania Ave. NW., Suite 8142, Washington, 
DC 20220, or email at [email protected].

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained by emailing [email protected], calling (202) 622-0934, or 
viewing the entire information collection request at www.reginfo.gov.

Community Development Financial Institutions (CDFI) Fund

    OMB Control Number: 1559-0024.
    Type of Review: Extension without change of a currently approved 
collection.
    Title: New Markets Tax Credit (NMTC) Program Allocation Tracking 
System (ATS).
    Abstract: The NMTC Program was established by Congress in 2000 to 
spur new or increased investments into operating businesses and real 
estate projects located in low-income communities. The program attracts 
investment capital to low-income communities by permitting individual 
and corporate investors to receive a tax credit against their Federal 
income tax return in exchange for making equity investments in 
specialized financial institutions called Community Development 
Entities (CDEs). Via a competitive process, the CDFI Fund awards NMTC 
allocation awards to select CDEs, based upon information submitted in 
their NMTC Allocation Application. Entities receiving a NMTC allocation 
must enter into an allocation agreement with the CDFI Fund. The 
allocation agreement contains the terms and conditions, including all 
reporting requirements, associated with the receipt of a NMTC 
allocation. The CDFI Fund requires each CDE to use an electronic data 
collection and submission system, known as the Allocation Tracking 
System (ATS) to collect information on investors making Qualified 
Equity Investments (QEIs) in CDEs.
    The ATS enhances the allocatee's ability to report such information 
to the CDFI Fund in a timely fashion. This information is also used by 
the Treasury Department to (1) monitor the issuance of QEIs to ensure 
that no allocatee exceeds its allocation authority; (2) ensure that 
QEIs are issued within the timeframes required by the NMTC Program 
regulations and the legal agreements signed between the CDFI Fund and 
the allocatee; and (3) assist with NMTC Program evaluation efforts.
    Affected Public: Private Sector: Business or other for-profits, 
Not-for-profit institutions); State, Local, and Tribal Governments.
    Estimated Total Annual Burden Hours: 5,940.

    Dated: October 5, 2016.
Brenda Simms,
Treasury PRA Clearance Officer.
[FR Doc. 2016-24565 Filed 10-11-16; 8:45 am]
 BILLING CODE 4810-70-P