June 28, 2024

CDFI Fund: Public Comment Sought on the CMF Performance Report

The U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) is soliciting public comment on changes to the Capital Magnet Fund (CMF) Performance Report.

The CDFI Fund’s CMF Application and Performance Report Paperwork Reduction Act (PRA) approval will expire in July 2024. Although the PRA approval for the forms in the CMF Application and Performance Report has been combined for several years, the CDFI Fund has determined that it is more effective to manage the schedule for these two PRAs separately in order to schedule updates to these forms more easily going forward. The CDFI Fund published an updated Interim Rule for CMF and the PRA for the CMF Application will be pursued through a separate federal register notice at a later date. 

The CMF Performance Report is an online form submitted through the CDFI Fund’s Awards Management Information System (AMIS). The proposed changes to the CMF Performance Report will provide clarification and consistency in instructions and eliminate certain requests for information that are no longer needed due to changes in the program. Changes being made to the CMF Performance Report are identified in the second column of the CMF Performance Report Data Points document, including proposed deletions, additions, and updates. 

Comments are invited on the content of the proposed CMF Performance Report with regard to the following: (a) whether the collection of information is necessary for the proper functional performance of the CDFI Fund, including whether the information shall have practical utility; (b) the accuracy of the CDFI Fund’s estimate of the burden in collecting the information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; (d) ways to minimize the burden of the information collection 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 the information.

You may submit comments concerning the CMF Performance Report via the Federal e-Rulemaking Portal at www.regulations.gov, no later than 60 days after the date of publication of the Federal Register notice.  Follow the instructions on the website for the submission of comments.  In general, all comments will be available for inspection at www.regulations.gov.  Comments, including attachments and other supporting materials, are part of the public record.  Do not submit any information in your comments or supporting materials that you consider confidential or inappropriate for public disclosure.

Questions related to the Notice and Request for Public Comment can be directed to Heather Hunt, Program Manager, Office of Compliance Monitoring and Evaluation, CDFI Fund, U.S. Department of the Treasury at ccme@cdfi.treas.gov. Other information regarding the CDFI Fund and its programs may be obtained through the CDFI Fund’s website at www.cdfifund.gov

*Please note, a separate Request for Comments on revised Interim Regulations for CMF was published in the Federal Register on June 25, 2024. For information on that request, click here.

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This post was originally published here.