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Request for Public Comment: Community Development Entity Certification Application
May 5, 2009
Washington, DC - The U.S. Department of 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 and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Pub. L. No. 104-13 (44 U.S.C. 3506(c)(2)(A)). Currently, the Community Development Financial Institutions (CDFI) Fund is soliciting comments on the Community Development Entity (CDE) Certification Application.
This application should be referenced for the purpose of providing comments on the use of the application to collect information only; it should not be completed and submitted as a request for funding. Written comments should be received on or before July 6, 2009 to be assured of consideration.
The New Markets Tax Credit (NMTC) Program was established by the Community Renewal Tax Relief Act of 2000. The NMTC Program provides an incentive to investors in the form of tax credits over seven years, which is expected to stimulate the provision of private investment capital that, in turn, will facilitate economic and community development in low-income communities. In order to qualify for an allocation of tax credits through the NMTC Program, an entity must be certified as a qualified CDE and submit an allocation application to the Fund. Nonprofit entities and for-profit entities may be certified as CDEs by the Fund. In order to be certified as a CDE, an entity must be a domestic corporation or partnership, that: (1) has a primary mission of serving or providing investment capital for low-income communities or low-income persons; and (2) maintains accountability to residents of low-income communities through their representation on any governing or advisory board of the entity.
» View Related Federal Register Notice
Materials for Public Comment
» View CDE Certification Application
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[CDFI-2009-26]
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