85856 Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 

DATES: Written comments must be 

received on or before March 1, 2021 to 

be assured of consideration. 

ADDRESSES: Direct all comments to 

Christopher Allison, NMTC Program 

Manager, CDFI Fund, at nmtc@

cdfi.treas.gov. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information 

should be directed to Christopher 

Allison, NMTC Program Manager, CDFI 

Fund, U.S. Department of the Treasury, 

1500 Pennsylvania Avenue NW, 

Washington, DC 20220, (202) 653–0421 

(not a toll-free number), or by email to 

nmtc@cdfi.treas.gov. Other information 

regarding the CDFI Fund and its 

programs may be obtained on the CDFI 

Fund website at https://

www.cdfifund.gov. The NMTC 

Allocation Application Template is 

provided online to aid the public in 

providing comments requested by this 

Notice, and presents the questions that 

will comprise the online Application, 

including substantive revisions relative 

to the existing Application. These 

proposed substantive revisions relative 

to the existing Application are 

highlighted in yellow in the NMTC 

Allocation Application Template. This 

document may be obtained from the 

NMTC page of the CDFI Fund’s website 

at https://www.cdfifund.gov/nmtc. 

SUPPLEMENTARY INFORMATION: 

Title: NMTC Program Allocation 

Application. 

OMB Number: 1559–0016. 

Abstract: Title I, subtitle C, section 

121 of the Community Renewal Tax 

Relief Act of 2000 (the Act) amended 

the Internal Revenue Code (IRC) by 

adding IRC § 45D and created the NMTC 

Program. The Department of the 

Treasury, through the CDFI Fund, 

Internal Revenue Service, and Office of 

Tax Policy, administers the NMTC 

Program. In order to claim the NMTC, 

taxpayers make Qualified Equity 

Investments (QEIs) in Community 

Development Entities (CDEs) and 

substantially all of the QEI proceeds 

must, in turn, be used by the CDE to 

provide investments in businesses and 

real estate developments in low-income 

communities and other purposes 

authorized under the statute. 

The tax credit provided to the 

investor totals 39 percent of the amount 

of the investment and is claimed over a 

seven-year period. In each of the first 

three years, the investor receives a 

credit equal to five percent of the total 

amount paid for the stock or capital 

interest at the time of purchase. For the 

final four years, the value of the credit 

is six percent annually. Investors may 

not redeem their investments in CDEs 

prior to the conclusion of the seven-year 

period without forfeiting any credit 

amounts they have received. 

The CDFI Fund is responsible for 

certifying organizations as CDEs, and 

administering the competitive allocation 

of tax credit authority to CDEs, which it 

does through annual allocation rounds. 

As part of the award selection process, 

CDEs will be required to prepare and 

submit an Application, which consists 

of five sections: Business Strategy; 

Community Outcomes; Organization 

Capacity; Capitalization Strategy; and 

Previous Allocations and Awards. 

Capitalized terms not defined in this 

Notice (other than titles) have the 

meaning set forth in the NMTC 

Allocation Application, Internal 

Revenue Code (IRC) § 45D or the IRS 

NMTC regulations. 

Current Actions: Extension with 

significant changes from currently 

approved collection. 

Type of Review: Regular. 

Affected Public: CDEs applying for 

NMTC Allocations. 

Estimated Number of Respondents: 

222. 

Estimated Annual Time per 

Respondent: 300. 

Estimated Total Annual Burden 

Hours: 66,600 hours. 

Request for Comments: Comments 

submitted in response to this notice will 

be summarized and/or included in the 

request for Office of Management and 

Budget approval. All comments will 

become a matter of public record and 

may be published on the Fund website 

at http://www.cdfifund.gov. 

Comments concerning the 

Application 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 to be 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 required to provide 

information. 

Authority 

26 U.S.C. 45D; 26 CFR 1.45D–1. 

Jodie L. Harris, 

Director, Community Development Financial 

Institutions Fund. 

[FR Doc. 2020–28649 Filed 12–28–20; 8:45 am] 

BILLING CODE 4810–70–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement 

Network; Bank Secrecy Act Advisory 

Group; Solicitation of Application for 

Membership 

AGENCY: Financial Crimes Enforcement 

Network (‘‘FinCEN’’), Treasury. 

ACTION: Notice and request for 

nominations. 

SUMMARY: FinCEN is inviting the public 

to nominate financial institutions, trade 

groups, and non-federal regulators or 

law enforcement agencies for 

membership on the Bank Secrecy Act 

Advisory Group. New members will be 

selected for three-year membership 

terms. 

DATES: Nominations must be received 

by January 28, 2021. 

ADDRESSES: Nominations must be 

emailed to BSAAG@fincen.gov. 

FOR FURTHER INFORMATION CONTACT: 

FinCEN Resource Center at 800–767– 

2825. 

SUPPLEMENTARY INFORMATION: Section 

1654 of the Annunzio-Wylie AntiMoney Laundering Act of 1992 required 

the Secretary of the Treasury to 

establish a Bank Secrecy Act Advisory 

Group (BSAAG) consisting of 

representatives from federal agencies, 

and other interested persons and 

financial institutions subject to the 

regulatory requirements of the Bank 

Secrecy Act, found at 31 CFR 1010– 

1060. The BSAAG is the means by 

which the Treasury receives advice on 

the reporting requirements of the Bank 

Secrecy Act, and informs private sector 

representatives on how the information 

they provide is used. As chair of the 

BSAAG, the Director of FinCEN is 

responsible for ensuring that relevant 

issues are placed before the BSAAG for 

review, analysis, and discussion. 

BSAAG membership is open to 

financial institutions, trade groups, and 

federal and non-federal regulators and 

law enforcement agencies that are 

located within the United States. Each 

member selected will serve a three-year 

term and must designate one individual 

to represent that member at plenary 

meetings. While BSAAG membership is 

granted to organizations, not to 

individuals, the designated 

representative for each selected 

organization should be knowledgeable 

about Bank Secrecy Act requirements 

and be willing and able to devote the 

necessary time and effort on behalf of 

the representative’s organization. 

Members are expected to actively share 

anecdotal perspectives, and quantifiable 

insights on BSA requirements, and 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 85, No. 249 / Tuesday, December 29, 2020 / Notices 85857 

industry trends in BSAAG discussions. 

The organization’s representative must 

be able to attend biannual plenary 

meetings, generally held in Washington, 

DC over one or two days in May and 

October. Additional BSAAG meetings 

may be held by phone, videoconference, 

or in person. Members will not be paid 

for their time, services, or travel. 

Nominations for individuals who are 

not representing an organization will 

not be considered, but organizations 

may nominate themselves. Please 

provide complete answers to the 

following items, as nominations will be 

evaluated based on the information 

provided in response to this notice and 

request for nominations. There is no 

required format; interested 

organizations may submit their 

nominations via email or email 

attachment. Nominations should consist 

of: 

• Name of the organization requesting 

membership. 

• Point of contact, title, address, 

email address, and phone number. 

• Description of the financial 

institution or trade group and its 

involvement with the Bank Secrecy Act. 

• Reasons why the organization’s 

participation on the BSAAG will bring 

value to the group. 

• Trade groups must submit a full list 

of their members along with their 

nomination. Trade groups must also 

confirm that, if selected, they will only 

share BSAAG information with their 

members that are located within the 

United States. 

In making the selections, FinCEN will 

seek to complement current BSAAG 

members and obtain comprehensive 

representation in terms of affiliation, 

industry, and geographic representation. 

The Director of FinCEN retains full 

discretion on all membership decisions. 

The Director may consider prior years’ 

applications when making selections 

and will not limit consideration to 

institutions nominated by the public 

when making selections. 

Kenneth A. Blanco, 

Director, Financial Crimes Enforcement 

Network. 

[FR Doc. 2020–28674 Filed 12–28–20; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

based on OFAC’s determination that one 

or more applicable legal criteria were 

satisfied. All property and interests in 

property subject to U.S. jurisdiction of 

these persons are blocked, and U.S. 

persons are generally prohibited from 

engaging in transactions with them. 

DATES: See SUPPLEMENTARY INFORMATION

section for applicable date(s). 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Andrea Gacki, Director, tel.: 

202–622–2420; Associate Director for 

Global Targeting, tel.: 202–622–2420; 

Assistant Director for Sanctions 

Compliance & Evaluation, tel.: 202–622– 

2490; Assistant Director for Licensing, 

tel.: 202–622–2480. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The Specially Designated Nationals 

and Blocked Persons List and additional 

information concerning OFAC sanctions 

programs are available on OFAC’s 

website (www.treas.gov/ofac). 

Notice of OFAC Actions 

On December 22, 2020, OFAC 

determined that the property and 

interests in property subject to U.S. 

jurisdiction of the following persons are 

blocked under the relevant sanctions 

authorities listed below. 

Individuals 

BILLING CODE 4810–AL–P 


KHAMMOND on DSKJM1Z7X2PROD with NOTICES