Proposed Extension of Information Collection; Comment Request; Petition for Finding Under Section 3(40) of ERISA, 70545-70546 [E6-20521]

Download as PDF Federal Register / Vol. 71, No. 233 / Tuesday, December 5, 2006 / Notices general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collection provisions of Prohibited Transaction Class Exemption (PTE) 80–83. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice. DATES: Written comments must be submitted on or before February 5, 2007. ADDRESSES: Direct all written comments to Susan G. Lahne, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N–5647, Washington, DC 20210. Telephone: (202) 693–8410; Fax: (202) 219–4745. These are not toll-free numbers. Comments may also be submitted electronically to the following Internet e-mail address: ebsa.opr@dol.gov. SUPPLEMENTARY INFORMATION: ycherry on PROD1PC64 with NOTICES I. Background PTE 80–83 provides an exemption from certain prohibited transaction provisions of the Employment Retirement Income Security Act of 1974 (ERISA) and from certain taxes imposed by the Internal Revenue Code of 1986 (Code) for transactions in which an employee benefit plan purchases securities when the proceeds from such purchase may be used to reduce or retire a debt owed by a party in interest with respect to such plan, provided that specified conditions are met. Among other conditions, PTE 80–83 requires that adequate records pertaining to an exempted transaction be maintained for six years. The Department has approval from the Office of Management and Budget (OMB) for this information collection requirement under OMB Control No. 1210–0064. This approval is currently scheduled to expire on March 30, 2007. II. Current Actions This notice requests public comment pertaining to the Department’s request for extension of OMB approval of the information collection contained in PTE 80–83. After considering comments received in response to this notice, the VerDate Aug<31>2005 15:14 Dec 04, 2006 Jkt 211001 Department intends to submit an ICR to OMB for continuing approval of the information collection contained in PTE 80–83. No change to the existing ICR is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Class Exemption 80–83; Employee Benefit Plan Purchase of Securities Benefiting Party in Interest Issuer. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0064. Affected Public: Business or other forprofit; not-for-profit institutions. Respondents: 25. Responses: 25. Estimated Total Burden Hours: 2 hours. III. Desired Focus of Comments The Department of Labor (Department) is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the ICR submitted to OMB; they will also become a matter of public record. Joseph A. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E6–20520 Filed 12–4–06; 8:45 am] BILLING CODE 4510–29–P PO 00000 Frm 00045 Fmt 4703 Sfmt 4703 70545 DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection; Comment Request; Petition for Finding Under Section 3(40) of ERISA Employee Benefits Security Administration, Department of Labor. ACTION: Notice. AGENCY: SUMMARY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This program helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public. It also helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration (EBSA) is soliciting comments on the proposed extension of the information collections contained in regulations pertaining to the Department’s procedures to making a finding under section 3(40) of the Employee Retirement Income Security Act of 1974 (ERISA) as to whether an employee benefit plan is established and maintained pursuant to one or more collective bargaining agreements. A copy of the information collection request (ICR) can be obtained by contacting the office shown in the ADDRESSES section of this notice. DATES: Written comments must be submitted to the office shown in the ADDRESSES section on or before February 5, 2007. ADDRESSES: Direct all written comments to Susan G. Lahne, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N–5647, Washington, DC 20210. Telephone: (202) 693–8410; Fax: (202) 219–4745. These are not toll-free numbers. Comments may also be submitted electronically to the following Internet e-mail address: ebsa.opr@dol.gov. SUPPLEMENTARY INFORMATION: I. Background Rules codified beginning at 29 CFR 2570.150 set forth an administrative procedure (‘‘procedural rules’’) for obtaining a determination by the E:\FR\FM\05DEN1.SGM 05DEN1 70546 Federal Register / Vol. 71, No. 233 / Tuesday, December 5, 2006 / Notices Department as to whether a particular employee benefit plan is established or maintained under or pursuant to one or more collective bargaining agreements for purposes of section 3(40) of ERISA. These procedural rules concern specific criteria set forth in 29 CFR 2510.3–40 (‘‘criteria rules’’), which, if met, constitute a finding by the Department that a plan is collectively bargained. Plans that meet the requirements of the criteria rules are not subject to state law. Among other requirements, the procedural rules require submission of a petition and affidavits by parties seeking a finding. The Department has obtained approval from the Office of Management and Budget (OMB), under OMB Control No. 1210–0119, for the information collections contained in its rules for a finding under section 3(40). This approval is currently scheduled to expire on March 30, 2007. II. Current Actions This notice requests comments on an extension of OMB’s approval of the information collections included in 29 CFR 2510.3–40. After considering comments received in response to this notice, the Department intends to submit an ICR to OMB for continuing approval of the information collection contained in 29 CFR 2510.3–40. No change to the existing ICR is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Petition for Finding under Section 3(40) of ERISA. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0119. Affected Public: Business or other forprofit; not-for-profit institutions. Respondents: 45. Responses: 45. Estimated Total Burden Hours: 1. Estimated Total Burden Cost (Operating and Maintenance): $120,420. ycherry on PROD1PC64 with NOTICES III. Desired Focus of Comments The Department is particularly interested in comments that: • Evaluate whether the proposed collection of information is necessary for the proper performance of the functions of the agency, including whether the information will have practical utility; • Evaluate the accuracy of the agency’s estimate of the burden of the VerDate Aug<31>2005 15:14 Dec 04, 2006 Jkt 211001 proposed collection of information, including the validity of the methodology and assumptions used; • Enhance the quality, utility, and clarity of the information to be collected; and • Minimize the burden of the collection of information on those who are to respond, including through the use of appropriate automated, electronic, mechanical, or other technological collection techniques or other forms of information technology, e.g., by permitting electronic submissions of responses. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval; they will also become a matter of public record. Direct all written comments to Susan G. Lahne, Office of Policy and Research, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, NW., Room N–5647, Washington, DC 20210. Telephone: (202) 693–8410; Fax: (202) 219–4745. These are not toll-free numbers. Comments may also be submitted electronically to the following Internet e-mail address: ebsa.opr@dol.gov. SUPPLEMENTARY INFORMATION: ADDRESSES: AGENCY: I. Background PTE 88–59 provides an exemption from certain prohibited transaction provisions of the Employment Retirement Income Security Act of 1974 (ERISA) and from certain taxes imposed by the Internal Revenue Code of 1986 (Code) for transactions in which an employee benefit plan provides mortgage financing to purchasers of residential dwelling units, provided specified conditions are met. Among other conditions, PTE 88–59 requires that adequate records pertaining to exempted transactions be maintained for the duration of the pertinent loan. This recordkeeping requirement constitutes an information collection within the meaning of the PRA, for which the Department has obtained approval from the Office of Management and Budget (OMB) under OMB Control No. 1210–0095. The OMB approval is currently scheduled to expire on March 30, 2007. SUMMARY: The Department of Labor (the Department), in accordance with the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), provides the general public and Federal agencies with an opportunity to comment on proposed and continuing collections of information. This helps the Department assess the impact of its information collection requirements and minimize the reporting burden on the public and helps the public understand the Department’s information collection requirements and provide the requested data in the desired format. Currently, the Employee Benefits Security Administration is soliciting comments on the proposed extension of the information collection provisions of Prohibited Transaction Class Exemption (PTE) 88–59. A copy of the information collection request (ICR) may be obtained by contacting the office listed in the ADDRESSES section of this notice. DATES: Written comments must be submitted on or before February 5, 2007. II. Current Actions This notice requests public comment pertaining to the Department’s request for extension of OMB approval of the information collection contained in PTE 88–59. After considering comments received in response to this notice, the Department intends to submit an ICR to OMB for continuing approval of the information collection contained in PTE 88–59. No change to the existing ICR is proposed or made at this time. An agency may not conduct or sponsor, and a person is not required to respond to, an information collection unless it displays a valid OMB control number. A summary of the ICR and the current burden estimates follows: Agency: Employee Benefits Security Administration, Department of Labor. Title: Prohibited Transaction Class Exemption 88–59; Residential Mortgage Financing Arrangements. Type of Review: Extension of a currently approved collection of information. OMB Number: 1210–0095. Affected Public: Business or other forprofit; not-for-profit institutions. Joseph S. Piacentini, Director, Office of Policy and Research, Employee Benefits Security Administration. [FR Doc. E6–20521 Filed 12–4–06; 8:45 am] BILLING CODE 4510–29–P DEPARTMENT OF LABOR Employee Benefits Security Administration Proposed Extension of Information Collection; Comment Request; Prohibited Transaction Class Exemption 88–59, Residential Mortgage Financing Arrangements Employee Benefits Security Administration, Department of Labor. ACTION: Notice. PO 00000 Frm 00046 Fmt 4703 Sfmt 4703 E:\FR\FM\05DEN1.SGM 05DEN1

Agencies

[Federal Register Volume 71, Number 233 (Tuesday, December 5, 2006)]
[Notices]
[Pages 70545-70546]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: E6-20521]


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DEPARTMENT OF LABOR

Employee Benefits Security Administration


Proposed Extension of Information Collection; Comment Request; 
Petition for Finding Under Section 3(40) of ERISA

AGENCY: Employee Benefits Security Administration, Department of Labor.

ACTION: Notice.

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SUMMARY: The Department of Labor (the Department), in accordance with 
the Paperwork Reduction Act of 1995 (PRA) (44 U.S.C. 3506(c)(2)(A)), 
provides the general public and Federal agencies with an opportunity to 
comment on proposed and continuing collections of information. This 
program helps the Department assess the impact of its information 
collection requirements and minimize the reporting burden on the 
public. It also helps the public understand the Department's 
information collection requirements and provide the requested data in 
the desired format. Currently, the Employee Benefits Security 
Administration (EBSA) is soliciting comments on the proposed extension 
of the information collections contained in regulations pertaining to 
the Department's procedures to making a finding under section 3(40) of 
the Employee Retirement Income Security Act of 1974 (ERISA) as to 
whether an employee benefit plan is established and maintained pursuant 
to one or more collective bargaining agreements. A copy of the 
information collection request (ICR) can be obtained by contacting the 
office shown in the ADDRESSES section of this notice.

DATES: Written comments must be submitted to the office shown in the 
ADDRESSES section on or before February 5, 2007.

ADDRESSES: Direct all written comments to Susan G. Lahne, Office of 
Policy and Research, Employee Benefits Security Administration, U.S. 
Department of Labor, 200 Constitution Avenue, NW., Room N-5647, 
Washington, DC 20210. Telephone: (202) 693-8410; Fax: (202) 219-4745. 
These are not toll-free numbers. Comments may also be submitted 
electronically to the following Internet e-mail address: 
ebsa.opr@dol.gov.

SUPPLEMENTARY INFORMATION: 

I. Background

    Rules codified beginning at 29 CFR 2570.150 set forth an 
administrative procedure (``procedural rules'') for obtaining a 
determination by the

[[Page 70546]]

Department as to whether a particular employee benefit plan is 
established or maintained under or pursuant to one or more collective 
bargaining agreements for purposes of section 3(40) of ERISA. These 
procedural rules concern specific criteria set forth in 29 CFR 2510.3-
40 (``criteria rules''), which, if met, constitute a finding by the 
Department that a plan is collectively bargained. Plans that meet the 
requirements of the criteria rules are not subject to state law. Among 
other requirements, the procedural rules require submission of a 
petition and affidavits by parties seeking a finding. The Department 
has obtained approval from the Office of Management and Budget (OMB), 
under OMB Control No. 1210-0119, for the information collections 
contained in its rules for a finding under section 3(40). This approval 
is currently scheduled to expire on March 30, 2007.

II. Current Actions

    This notice requests comments on an extension of OMB's approval of 
the information collections included in 29 CFR 2510.3-40. After 
considering comments received in response to this notice, the 
Department intends to submit an ICR to OMB for continuing approval of 
the information collection contained in 29 CFR 2510.3-40. No change to 
the existing ICR is proposed or made at this time. An agency may not 
conduct or sponsor, and a person is not required to respond to, an 
information collection unless it displays a valid OMB control number. A 
summary of the ICR and the current burden estimates follows:
    Agency: Employee Benefits Security Administration, Department of 
Labor.
    Title: Petition for Finding under Section 3(40) of ERISA.
    Type of Review: Extension of a currently approved collection of 
information.
    OMB Number: 1210-0119.
    Affected Public: Business or other for-profit; not-for-profit 
institutions.
    Respondents: 45.
    Responses: 45.
    Estimated Total Burden Hours: 1.
    Estimated Total Burden Cost (Operating and Maintenance): $120,420.

III. Desired Focus of Comments

    The Department is particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., by 
permitting electronic submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval; they will also become 
a matter of public record.

Joseph S. Piacentini,
Director, Office of Policy and Research, Employee Benefits Security 
Administration.
 [FR Doc. E6-20521 Filed 12-4-06; 8:45 am]
BILLING CODE 4510-29-P