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[Federal Register Volume 90, Number 16 (Monday, January 27, 2025)]
[Notices]
[Pages 8229-8230]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-01514]

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DEPARTMENT OF THE TREASURY

Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Community Development Financial Institutions 
(CDFI) Fund/Native American CDFI Assistance Program Award Recipient and 
NMTC Allocatee Annual Report

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Notice of information collection; request for comment.

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SUMMARY: The Department of the Treasury will submit the following 
information collection requests to the Office of Management and Budget 
(OMB) for review and clearance in accordance with the Paperwork 
Reduction Act of 1995, on or after the date of publication of this 
notice. The public is invited to submit comments on these requests.

DATES: Comments should be received on or before February 26, 2025 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Spencer W. Clark by emailing [email protected], calling 
(202) 927-5331, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Community Development Financial Institutions Fund (CDFI Fund)

    Title: CDFI/NACA Program Award Recipient and NMTC Allocatee Annual 
Report including CDFI ERP.
    OMB Control Number: 1559-0027.
    Type of Request: Revision of a currently approved collection.
    Description: The Community Development Financial Institutions

[[Page 8230]]

Program (CDFI Program) provides financial and technical assistance to 
selected organizations certified by the Community Development Financial 
Institutions Fund (CDFI Fund) as Community Development Financial 
Institutions (CDFIs), or entities that propose to become CDFIs, in 
order to enhance their ability to make loans and investments and 
provide services for the benefit of their designated investment areas 
and targeted populations. These organizations also include selected 
Native American organizations certified by the CDFI Fund as CDFIs, or 
entities that propose to become CDFIs, in order to enhance their 
ability to make loans and investments and provide services for the 
benefit of Native American communities and individual Native Americans 
through the Native American CDFI Assistance Program (NACA Program). 
Based on an Assistance Agreement between each Financial Award (FA) 
Recipient and the CDFI Fund, the CDFI/NACA Program Transaction Level 
Report (TLR) is used to collect information for compliance monitoring 
and performance reporting. The annual report provides qualitative and 
quantitative information on the FA Recipient's compliance with its 
performance goals during the period of performance in which the CDFI 
Fund's financial assistance was used. The CDFI/NACA TLR is submitted 
via the CDFI Fund's Awards Management Information System (AMIS) once a 
year, six (6) months after a Recipient's fiscal year end.
    In 2023, the CDFI Fund made awards under the CDFI Equitable 
Recovery Program (CDFI ERP), which was a new program authorized by 
Congress under the Consolidated Appropriations Act, 2021 (Act; section 
523 of division N; Pub. L. 116-260). The CDFI ERP was designed to award 
CDFIs grants to respond to the economic impacts of the COVID-19 
pandemic. Awards provided to CDFIs were: (1) to expand lending, grant 
making, and investment activity in low- or moderate-income communities 
and to borrowers, including minorities, that have significant unmet 
capital or financial service needs and were disproportionately impacted 
by the COVID-19 pandemic; and (2) to enable CDFIs to build 
organizational capacity and acquire technology, staff and other tools 
necessary to accomplish the activities under a CDFI ERP Award. In April 
2023, the CDFI Fund awarded over $1.73 billion in grants to 604 CDFIs.
    Based on an Assistance Agreement between each CDFI ERP Recipient 
and the CDFI Fund, CDFI ERP Recipients will be required to complete the 
existing CDFI/NACA TLR for the collection of information used for 
compliance monitoring and performance reporting purposes until the end 
of the performance period. Because the objectives of the CDFI ERP 
Program differ from the existing CDFI and NACA Programs, the CDFI Fund 
needs to add additional data fields to the TLR for CDFI ERP Recipients 
to complete, as well as create a reporting form to capture CDFI ERP-
eligible activities that are not eligible under the CDFI and NACA 
Programs (i.e., the provision of grants). CDFI ERP Recipients will 
follow the same annual TLR submission schedule as CDFI/NACA Program 
Recipients, which is six (6) months after a Recipient's fiscal year end 
via AMIS. CDFI/NACA Program Recipients who are also CDFI ERP Recipients 
will only submit one TLR per year.
    Forms: Transaction Level Report, Address Records, Loan Purchase 
Reports, Grant-Level Report, Consumer Loan Report.
    Affected Public: CDFIs including businesses or other for-profit 
institutions, non-profit entities, and State, local and Tribal entities 
participating in CDFI Fund programs.
    Estimated Number of Respondents: 603.
    Frequency of Response: Annually.
    Estimated Total Number of Annual Responses: 603.
    Estimated Time per Response: 20.
    Estimated Total Annual Burden Hours: 12,060.
    Authority: 44 U.S.C. 3501 et seq.

Spencer W. Clark,
Treasury PRA Clearance Officer.
[FR Doc. 2025-01514 Filed 1-24-25; 8:45 am]
BILLING CODE 4810-70-P
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