Proposed Collection; Comment Request for Regulation Project, 43825-43826 [2014-17751]
Download as PDF
<![CDATA[
mstockstill on DSK4VPTVN1PROD with NOTICES
Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices
you consider confidential or
inappropriate for public disclosure.
Additionally, please send a copy of
your comments by mail to: OCC Desk
Officer, 1557–0320, U.S. Office of
Management and Budget, 725 17th
Street NW., #10235, Washington, DC
20503, or by email to: oira_submission@
omb.eop.gov.
FOR FURTHER INFORMATION CONTACT:
Johnny Vilela or Mary H. Gottlieb, OCC
Clearance Officers, (202) 649–5490, for
persons who are deaf or hard of hearing,
TTY, (202) 649–5597, Legislative and
Regulatory Activities Division, Office of
the Comptroller of the Currency, 400 7th
Street SW., Suite 3E–218, Mail Stop
9W–11, Washington, DC 20219.
SUPPLEMENTARY INFORMATION: Under the
PRA (44 U.S.C. 3501–3520), Federal
agencies must obtain approval from the
OMB for each collection of information
they conduct or sponsor. ‘‘Collection of
information’’ is defined in 44 U.S.C.
3502(3) and 5 CFR 1320.3(c) to include
agency requests or requirements that
members of the public submit reports,
keep records, or provide information to
a third party.
The OCC is proposing to extend OMB
approval of the following information
collection:
Title: Community Reinvestment Act
Regulations.
OMB Control Number: 1557–0160.
Description: The Community
Reinvestment Act (CRA) requires the
Federal banking agencies (Agencies) to
assess the record of banks and savings
associations in helping to meet the
credit needs of their entire
communities, including low- and
moderate-income neighborhoods,
consistent with safe and sound
operations; and to take this record into
account in evaluating applications for
mergers, branches, and certain other
corporate activities.1 The CRA statute
requires the Agencies to issue
regulations to carry out its purposes.2
Each Agency must provide written
CRA evaluations of the institutions they
supervise. The public portion of each
written evaluation must present the
Agency’s conclusions with respect to
the CRA performance standards
identified in its regulations; include the
facts and data supporting those
conclusions; and contain the
institution’s CRA rating and the basis
for that rating.
The data collection requirements in
the CRA regulations are necessary for
the Agencies to examine, assess, and
assign a rating to an institution’s CRA
1 12
2 12
U.S.C. 2903.
U.S.C. 2905.
VerDate Mar<15>2010
17:53 Jul 25, 2014
Jkt 232001
performance and to prepare the public
section of the written CRA performance
evaluation.
Type of Review: Regular review.
Affected Public: Businesses or other
for-profit.
Estimated Number of Respondents:
1,693.
Estimated Total Annual Burden:
142,463 hours.
Comments: The OCC issued a 60-day
notice regarding this collection on April
25, 2014. 79 FR 23058. One comment
was received. The commenter made a
number of recommendations related to
the OCC’s supervisory uses of data in
connection with the CRA regulation’s
service test.3 However, the commenter’s
recommendations do not relate to the
CRA regulation’s data collection
requirements, which are the subject of
this continuing information collection.
In general, the commenter stated that
using more data in the service test
would make bank evaluations easier for
banks and examiners. The commenter
recommended that bank examiners
consider additional information for the
service test that would assist with the
evaluation of: The distribution of bank
branches and products; opening and
closing of bank branches; accessibility
and use of alternative financial services;
and the impact of banking services on
customers and communities. The
commenter also suggested that, in
addition to a qualitative evaluation, that
examiners use quantitative data to
evaluate a bank’s programs and
determine if, and to what degree, a
bank’s services benefit the community.
The OCC is carefully considering the
recommendations made by the
commenter in connection with the
possible issuance of future CRA-related
guidance addressing the service test.
Comments continue to be invited on:
(a) Whether the collection of
information is necessary for the proper
performance of the functions of the
OCC, including whether the information
has practical utility;
(b) The accuracy of the OCC’s
estimate of the burden of the
information collection;
(c) Ways to enhance the quality,
utility, and clarity of the information to
be collected;
(d) Ways to minimize the burden of
the collection on respondents, including
through the use of automated collection
techniques or other forms of information
technology; and
3 The service test evaluates a bank or Federal
savings association’s record of helping to meet the
credit needs of its assessment area(s) by analyzing
both the availability and effectiveness of a bank’s
systems for delivering retail banking services and
the extent and innovativeness of its community
development services. 12 CFR 25.24 and 195.24.
PO 00000
Frm 00120
Fmt 4703
Sfmt 4703
43825
(e) Estimates of capital or start-up
costs and costs of operation,
maintenance, and purchase of services
to provide information.
Dated: July 22, 2014.
Stuart E. Feldstein,
Assistant Director, Legislative and Regulatory
Activities Division.
[FR Doc. 2014–17703 Filed 7–25–14; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Regulation Project
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
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,
Public Law 104–13(44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning the
election to expense certain refineries.
DATES: Written comments should be
received on or before September 26,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the regulations should be
directed to Gerald J. Shields, LL.M. at
Internal Revenue Service, Room 6129,
1111 Constitution Avenue NW.,
Washington, DC 20224, or through the
Internet at Gerald.J.Shields@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Election To Expense Certain
Refineries.
OMB Number: 1545–2103.
Regulation Project Number: TD 9547.
Abstract: This document contains
regulations relating to the election to
expense qualified refinery property
under section 179C of the Internal
Revenue Code, and affects taxpayers
who own refineries located in the
United States. These regulations reflect
the Energy Policy Act of 2005.
Section 179C of the Internal Revenue
Code provides that a taxpayer can elect
to treat 50% of the cost of ‘‘qualified
SUMMARY:
E:\FR\FM\28JYN1.SGM
28JYN1
mstockstill on DSK4VPTVN1PROD with NOTICES
43826
Federal Register / Vol. 79, No. 144 / Monday, July 28, 2014 / Notices
refinery property’’ as a deductible
expense not chargeable to capital
account. The taxpayer makes an election
under section 179C by entering the
amount of the deduction at the
appropriate place on the taxpayer’s
timely filed original federal income tax
return for the taxable year in which the
qualified refinery property is placed in
service and by attaching a report
specifying (a) the name and address of
the refinery and (b) the production
capacity requirement under which the
refinery qualifies.
If the taxpayer making the expensing
election described above is a
cooperative described in section 1381,
and one or more persons directly
holding an ownership interest in the
taxpayer are organizations described in
section 1381, the taxpayer can elect to
allocate all or a portion of the deduction
allowable under section 179C to those
persons. The allocation must be equal to
the person’s ratable share of the total
amount allocated, determined on the
basis of the person’s ownership interest
in the taxpayer/cooperative.
Current Actions: There is a change
due to final regulations being adopted.
However, the taxpayer burden has not
changed.
Type of Review: Revision of a
currently approved collection.
Affected Public: Business or other forprofit organizations.
Estimated Number of Respondents:
12.
Estimated Time per Respondent: 10
Hours.
Estimated Total Annual Burden
Hours: 120.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments 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
VerDate Mar<15>2010
17:53 Jul 25, 2014
Jkt 232001
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 automated collection
techniques or other forms of information
technology; and (e) estimates of capital
or start-up costs and costs of operation,
maintenance, and purchase of services
to provide information.
Approved: July 16, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014–17751 Filed 7–25–14; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment
Request for Form 8717 and Form
8717–A
Internal Revenue Service (IRS),
Treasury.
ACTION: Notice and request for
comments.
AGENCY:
The Department of the
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,
Public Law 104–13 (44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is
soliciting comments concerning Form
8717, User Fee for Employee Plan
Determination Letter Request, and Form
8717–A, User Fee for Employee Plan
Opinion or Advisory Letter Request.
DATES: Written comments should be
received on or before September 26,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments
to R. Joseph Durbala, Internal Revenue
Service, Room 6129, 1111 Constitution
Avenue NW., Washington, DC 20224.
FOR FURTHER INFORMATION CONTACT:
Requests for additional information or
copies of the form and instructions
should be directed to Gerald J. Shields,
LL.M., Internal Revenue Service, Room
6231, 1111 Constitution Avenue NW.,
Washington, DC 20224 or through the
internet at Gerald.J.Shields@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Form 8717, User Fee for
Employee Plan Determination Letter
Request, and Form 8717–A, User Fee for
Employee Plan Opinion or Advisory
Letter Request.
SUMMARY:
PO 00000
Frm 00121
Fmt 4703
Sfmt 4703
OMB Number: 1545–1772.
Form Number: 8717 and 8717–A.
Abstract: The Omnibus Reconciliation
Act of 1990 requires payment of a ‘‘user
fee’’ with each application for a
determination letter. Form 8717 and
Form 8717–A were created to provide
filers the means to make payment and
indicate the type of request.
Current Actions: There are changes
being made to the forms at this time,
because the user fees were updated by
Rev. Proc. 2014–8, 2014–1 I.R.B. 242,
and are effective for applications filed
on or after February 1, 2014. Form 8717
has been renamed, User Fee for
Employee Plan Determination Letter
Request. Information previously on
Form 8717 relating to opinion or
advisory letter requests for Volume
Submitter and Master or Prototype plans
has been deleted. This information may
now be found on new Form 8717–A,
User Fee for Employee Plan Opinion or
Advisory Letter Request.
Type of Review: Revision and
extension of a currently approved
collection.
Affected Public: Business or other forprofit organization, and not-for-profit
institutions.
Estimated Number of Responses:
39,000.
Estimated Time per Response: 11
Hours, 24 minutes.
Estimated Total Annual Burden
Hours: 445,770.
The following paragraph applies to all
of the collections of information covered
by this notice:
An agency may not conduct or
sponsor, and a person is not required to
respond to, a collection of information
unless the collection of information
displays a valid OMB control number.
Books or records relating to a collection
of information must be retained as long
as their contents may become material
in the administration of any internal
revenue law. Generally, tax returns and
tax return information are confidential,
as required by 26 U.S.C. 6103.
Request for Comments: Comments
submitted in response to this notice will
be summarized and/or included in the
request for OMB approval. All
comments will become a matter of
public record. Comments 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
E:\FR\FM\28JYN1.SGM
28JYN1
]]>Agencies
[Federal Register Volume 79, Number 144 (Monday, July 28, 2014)]
[Notices]
[Pages 43825-43826]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2014-17751]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
Proposed Collection; Comment Request for Regulation Project
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Notice and request for comments.
-----------------------------------------------------------------------
SUMMARY: The Department of the 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, Public Law 104-13(44 U.S.C.
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning
the election to expense certain refineries.
DATES: Written comments should be received on or before September 26,
2014 to be assured of consideration.
ADDRESSES: Direct all written comments to R. Joseph Durbala, Internal
Revenue Service, Room 6129, 1111 Constitution Avenue NW., Washington,
DC 20224.
FOR FURTHER INFORMATION CONTACT: Requests for additional information or
copies of the regulations should be directed to Gerald J. Shields,
LL.M. at Internal Revenue Service, Room 6129, 1111 Constitution Avenue
NW., Washington, DC 20224, or through the Internet at
Gerald.J.Shields@irs.gov.
SUPPLEMENTARY INFORMATION:
Title: Election To Expense Certain Refineries.
OMB Number: 1545-2103.
Regulation Project Number: TD 9547.
Abstract: This document contains regulations relating to the
election to expense qualified refinery property under section 179C of
the Internal Revenue Code, and affects taxpayers who own refineries
located in the United States. These regulations reflect the Energy
Policy Act of 2005.
Section 179C of the Internal Revenue Code provides that a taxpayer
can elect to treat 50% of the cost of ``qualified
[[Page 43826]]
refinery property'' as a deductible expense not chargeable to capital
account. The taxpayer makes an election under section 179C by entering
the amount of the deduction at the appropriate place on the taxpayer's
timely filed original federal income tax return for the taxable year in
which the qualified refinery property is placed in service and by
attaching a report specifying (a) the name and address of the refinery
and (b) the production capacity requirement under which the refinery
qualifies.
If the taxpayer making the expensing election described above is a
cooperative described in section 1381, and one or more persons directly
holding an ownership interest in the taxpayer are organizations
described in section 1381, the taxpayer can elect to allocate all or a
portion of the deduction allowable under section 179C to those persons.
The allocation must be equal to the person's ratable share of the total
amount allocated, determined on the basis of the person's ownership
interest in the taxpayer/cooperative.
Current Actions: There is a change due to final regulations being
adopted. However, the taxpayer burden has not changed.
Type of Review: Revision of a currently approved collection.
Affected Public: Business or other for-profit organizations.
Estimated Number of Respondents: 12.
Estimated Time per Respondent: 10 Hours.
Estimated Total Annual Burden Hours: 120.
The following paragraph applies to all of the collections of
information covered by this notice:
An agency may not conduct or sponsor, and a person is not required
to respond to, a collection of information unless the collection of
information displays a valid OMB control number. Books or records
relating to a collection of information must be retained as long as
their contents may become material in the administration of any
internal revenue law. Generally, tax returns and tax return information
are confidential, as required by 26 U.S.C. 6103.
Request for Comments: Comments submitted in response to this notice
will be summarized and/or included in the request for OMB approval. All
comments will become a matter of public record. Comments 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 automated
collection techniques or other forms of information technology; and (e)
estimates of capital or start-up costs and costs of operation,
maintenance, and purchase of services to provide information.
Approved: July 16, 2014.
R. Joseph Durbala,
IRS Reports Clearance Officer.
[FR Doc. 2014-17751 Filed 7-25-14; 8:45 am]
BILLING CODE 4830-01-P
