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Treasury Directive 13-23

DATE: January 11, 2013
 
SUBJECT:          Delegation of Authority for Community Development Financial Institutions Bond Guarantee Program Established by the Small Business Jobs Act of 2010
  
1.   PURPOSE.  This Directive delegates to the Deputy Assistant Secretary for Small Business, Community Development, and Affordable Housing Policy certain authorities relating to the Community Development Financial Institutions Bond Guarantee Program (CDFI Bond Guarantee Program) established by the Small Business Jobs Act of 2010 (the Act).
 
2.   SCOPE.  This Directive applies to all bureaus, offices, and organizations in the Department of the Treasury, including the offices of Inspectors General within the Department.  The provisions of this Directive shall not be construed to interfere with or impede the authorities or independence of the Department’s Inspectors General.
 
3.   DELEGATION.  
 
a.      The authority of the Secretary of the Treasury under section 1134 of the Act (establishing the CDFI Bond Guarantee Program) to exercise the following authorities and perform the following functions and duties of the Secretary relating to the CDFI Bond Guarantee Program, which authority is vested in the Under Secretary for Domestic Finance (the Under Secretary) pursuant to Treasury Order 101-05, is hereby delegated to the Deputy Assistant Secretary for Small Business, Community Development, and Affordable Housing Policy (the Deputy Assistant Secretary):
 
1)      Approving applications for guarantees and issuing guarantees of bonds;   
 
2)      Entering into agreements (and modifications to such agreements) on behalf of the Department of the Treasury relating to such guarantees, and exercising rights under such agreements; and
 
3)      In general, performing all functions in the administration of the CDFI Bond Guarantee Program that are consistent with the Act and the policies approved by the Under Secretary, including without limitation the following:
 
a)      Issuing regulations (and modifications to such regulations) and notices of guarantee availability that set out CDFI Bond Guarantee Program requirements;
 
b)      Other than as provided in paragraph 1, providing approvals under the regulations and approvals under the notices of guarantee availability; and
 
c)      Monitoring compliance with CDFI Bond Guarantee Program requirements;
 
b.      The Deputy Assistant Secretary will be responsible for referring to the Under Secretary any matter on which action would appropriately be taken by the Under Secretary or the Secretary.
 
4.   REDELEGATION.  The Deputy Assistant Secretary may redelegate the authority delegated in paragraph 3.a.3 of this directive to the Director, Community Development Financial Institutions Fund, and the Director may redelegate the authority delegated in paragraph 3.a.3.b and 3.a.3.c to any official under the supervision of the Director.
 
5.   RESERVED AUTHORITY.  The authority to approve and modify policies that will apply to the CDFI Bond Guarantee Program is reserved to the Under Secretary   
 
6.   PARTIAL TERMINATION OF DELEGATION.  Certain of the Secretary’s authorities under the Act are subject to a statutory termination date.  A delegation under this directive that is based on such a provision of the Act will terminate concurrently with the underlying statutory authority.
 
7.   AUTHORITIES. 
 
a.       Section 1134 of the Small Business Jobs Act of 2010, Pub. L. No. 111-240 (September 27, 2010), which added new section 114A to the Riegle Community Development and Regulatory Improvement Act of 1994 (12 USC 4713a.).
 
b.      Treasury Order 101-05, “Reporting Relationships and Supervision of Officials, Offices and Bureaus, and Delegation of Certain Authority in the Department of the Treasury,” dated January 10, 2011.
 
8.   OFFICE OF PRIMARY INTEREST.  Office of the Deputy Assistant Secretary for Small Business, Community Development, and Affordable Housing Policy.
  
 
/S/
Mary J. Miller
Under Secretary for Domestic Finance
Last Updated: 2/6/2013 5:02 PM