Withholding on Payments by Government Entities to Persons Providing Property or Services; Correction, 32885-32886 [2011-13928]

Download as PDF emcdonald on DSK2BSOYB1PROD with PROPOSALS Federal Register / Vol. 76, No. 109 / Tuesday, June 7, 2011 / Proposed Rules equity investment under paragraph (c)(1)(iii) of this section if— * * * * * (8) Non-real estate qualified equity investment. If a qualified equity investment is designated as a non-real estate qualified equity investment under paragraph (c)(1)(iii) of this section, then the qualified equity investment may only satisfy the substantially-all requirement under paragraph (c)(5) of this section if the CDE only makes qualified low-income community investments that are directly traceable to non-real estate qualified active lowincome community businesses (as defined in paragraph (d)(9) of this section). The proceeds of a non-real estate qualified equity investment cannot be used for transactions involving a qualified active low-income community business that is not a nonreal estate qualified active low-income community business. (d) * * * (1) * * * (i) Investment in a qualified active low-income community business or a non-real estate qualified active lowincome community business. Any capital or equity investment in, or loan to, any qualified active low-income community business (as defined in paragraph (d)(4) of this section) or any non-real estate qualified active lowincome community business (as defined in paragraph (d)(9) of this section). * * * * * (9) Non-real estate qualified active low-income community business—(i) Definition. The term non-real estate qualified active low-income community business means any qualified active low-income community business (as defined in paragraph (d)(4) of this section) whose predominant business activity does not include the development (including construction of new facilities and rehabilitation/ enhancement of existing facilities), management, or leasing of real estate. For purposes of the preceding sentence, predominant business activity means a business activity that generates more than 50 percent of the business’ gross income. The purpose of the capital or equity investment in, or loan to, the non-real estate qualified active lowincome community business must not be connected to the development (including construction of new facilities and rehabilitation/enhancement of existing facilities), management, or leasing of real estate. (ii) Payments of, or for, capital, equity or principal with respect to a non-real estate qualified active low-income community business—(A) In general. VerDate Mar<15>2010 17:26 Jun 06, 2011 Jkt 223001 For purposes of paragraph (d)(2)(i) of this section, a portion of the amounts received by a CDE in payment of, or for, capital, equity, or principal with respect to a non-real estate qualified active lowincome community business after year one of the 7-year credit period (as defined by paragraph (c)(5)(i) of this section) may be reinvested by the CDE in a certified community development financial institution that is a CDE under section 45D(c)(2)(B) (certified CDFI) (as defined by 12 CFR 1805.201) and that is unrelated to the CDE (in accordance with section 267(b) or section 707(b)(1)). Any portion that the CDE chooses to reinvest in a certified CDFI must be reinvested by the CDE no later than 30 days from the date of receipt to be treated as continuously invested in a qualified low-income community investment for purposes of paragraph (d)(2)(i) of this section. If the amount reinvested in a certified CDFI exceeds the maximum aggregate portion of the non-real estate qualified equity investment, then the excess will not be treated as invested in a qualified lowincome community investment. The maximum aggregate portion of the nonreal estate qualified equity investment that may be reinvested into a certified CDFI, which will be treated as continuously invested in a qualified low-income community investment, may not exceed the following percentages of the non-real estate qualified equity investment in the following years: (1) 15 percent in Year 2 of the 7-year credit period; (2) 30 percent in Year 3 of the 7-year credit period; (3) 50 percent in Year 4 of the 7-year credit period; and (4) 85 percent in Year 5 and Year 6 of the 7-year credit period. (B) Seventh year of the credit period. Amounts received by a CDE in payment of, or for, capital, equity, or principal with respect to a non-real estate qualified active low-income community business (as defined in paragraph (d)(9)(i) of this section) during the seventh year of the 7-year credit period do not have to be reinvested by the CDE in a qualified low-income community investment in order to be treated as continuously invested in a qualified low-income community investment. (C) Amounts received from a certified Community Development Financial Institution. Except for the seventh year of the credit period under paragraph (d)(9)(ii)(B) of this section, amounts received from a certified CDFI must be reinvested by the CDE no later than 30 days from the date of receipt to be treated as continuously invested in a PO 00000 Frm 00008 Fmt 4702 Sfmt 4702 32885 qualified low-income community investment. * * * * * (h) * * * (3) Investments in non-real estate businesses. The rules in paragraphs (c)(8) and (d)(9) of this section apply to taxable years ending on or after the date of publication of the Treasury decision adopting these rules as final regulation in the Federal Register. Steven T. Miller, Deputy Commissioner for Services and Enforcement. [FR Doc. 2011–13978 Filed 6–3–11; 4:15 pm] BILLING CODE 4830–01–P DEPARTMENT OF THE TREASURY Internal Revenue Service 26 CFR Part 31 [REG–151687–10] RIN 1545–BJ98 Withholding on Payments by Government Entities to Persons Providing Property or Services; Correction Internal Revenue Service (IRS), Treasury. ACTION: Correction to notice of proposed rulemaking. AGENCY: This document contains a correction to a notice of proposed rulemaking (REG–151687–10) that was published in the Federal Register on Monday, May 9, 2011 (76 FR 26678). The proposed regulation provides guidance relating to withholding by government entities on payments to persons providing property or services. FOR FURTHER INFORMATION CONTACT: A.G. Kelley, (202) 622–6040 (not a toll free number). SUMMARY: SUPPLEMENTARY INFORMATION: Background The notice of proposed rulemaking (REG–151687–10) that is the subject of this correction is under section 3042(t) of the Internal Revenue Code. Need for Correction As published, the notice of proposed rulemaking (REG–151687–10) contains an error that may prove to be misleading and is in need of clarification. Correction of Publication Accordingly, the notice of proposed rulemaking (REG–151687–10), that was the subject of FR Doc. 2011–10758, is corrected as follows: E:\FR\FM\07JNP1.SGM 07JNP1 32886 § 31.3402(t)–1 Federal Register / Vol. 76, No. 109 / Tuesday, June 7, 2011 / Proposed Rules [Corrected] On Page 26679, column 2, under the paragraph heading § 31.3402(t)–1 Withholding requirement on certain payments made by government entities, line 7 from the bottom of the paragraph, the language ‘‘a mere renewal of a contract. A material’’ is corrected to read ‘‘a mere renewal of a contract that does not otherwise materially affect the property or services to be provided under the contract, the terms of payment for the property or services under the contract, or the amount payable for the property or services under the contract. A material’’. LaNita VanDyke, Chief, Publications and Regulations Branch, Legal Processing Division, Associate Chief Counsel (Procedure and Administration). [FR Doc. 2011–13928 Filed 6–6–11; 8:45 am] BILLING CODE 4830–01–P ENVIRONMENTAL PROTECTION AGENCY 40 CFR Part 86 [FRL–9315–2] Control of Emissions From New Highway Vehicles and Engines; Guidance on EPA’s Certification Requirements for Heavy-Duty Diesel Engines Using Selective Catalytic Reduction Technology Environmental Protection Agency (EPA). ACTION: Request for comments. AGENCY: EPA is requesting comment on draft guidance and related interpretations concerning the application of certain emission certification regulations to those onhighway heavy-duty diesel engines that are using selective catalytic reduction systems to meet Federal emission standards. EPA will review the comments and provide final guidance and interpretations in a future Federal Register document. DATES: Any party may submit written comments by July 7, 2011. ADDRESSES: Submit your comments, identified by Docket ID No. EPA–HQ– OAR–2010–0444, by one of the following methods: • On-line at http:// www.regulations.gov: Follow the on-line instructions for submitting comments. • E-mail: a-and-r-docket@epa.gov. • Fax: (202) 566–1741. • Mail: Air and Radiation Docket, Docket ID No. EPA–HQ–OAR–2010– 0444, Environmental Protection Agency, Mailcode: 6102T, 1200 Pennsylvania emcdonald on DSK2BSOYB1PROD with PROPOSALS SUMMARY: VerDate Mar<15>2010 17:26 Jun 06, 2011 Jkt 223001 Avenue, NW., Washington, DC 20460. Please include a total of two copies. • Hand Delivery: EPA Docket Center, Public Reading Room, EPA West Building, Room 3334, 1301 Constitution Avenue, NW., Washington, DC 20460. Such deliveries are only accepted during the Docket’s normal hours of operation, and special arrangements should be made for deliveries of boxed information. Instructions: Direct your comments to Docket ID No. EPA–HQ–OAR–2010– 0444. EPA’s policy is that all comments received will be included in the public docket without change and may be made available online at http:// www.regulations.gov, including any personal information provided, unless the comment includes information claimed to be Confidential Business Information (CBI) or other information whose disclosure is restricted by statute. Do not submit information that you consider to be CBI or otherwise protected through http:// www.regulations.gov or e-mail. The http://www.regulations.gov Web site is an ‘‘anonymous access’’ system, which means EPA will not know your identity or contact information unless you provide it in the body of your comment. If you send an e-mail comment directly to EPA without going through http:// www.regulations.gov your e-mail address will be automatically captured and included as part of the comment that is placed in the public docket and made available on the Internet. If you submit an electronic comment, EPA recommends that you include your name and other contact information in the body of your comment and with any disk or CD–ROM you submit. If EPA cannot read your comment due to technical difficulties and cannot contact you for clarification, EPA may not be able to consider your comment. Electronic files should avoid the use of special characters, any form of encryption, and be free of any defects or viruses. For additional information about EPA’s public docket, visit the EPA Docket Center homepage at http:// www.epa.gov/epahome/dockets.htm. For additional instructions on submitting comments, go to ‘‘What Should I Consider as I Prepare My Comments for EPA?’’ Docket: All documents in the docket are listed in the http:// www.regulations.gov index. Although listed in the index, some information is not publicly available, e.g., CBI or other information whose disclosure is restricted by statute. Certain other material, such as copyrighted material, will be publicly available only in hard copy. Publicly available docket PO 00000 Frm 00009 Fmt 4702 Sfmt 4702 materials are available either electronically in http:// www.regulations.gov or in hard copy at the Air and Radiation Docket, EPA/DC, EPA West, Room 3334, 1301 Constitution Ave., NW., Washington, DC. The Public Reading Room is open from 8:30 a.m. to 4:30 p.m., Monday through Friday, excluding legal holidays. The telephone number for the Public Reading Room is (202) 566–1744, and the telephone number for the Air Docket is (202) 566–1742. FOR FURTHER INFORMATION CONTACT: Greg Orehowsky, Heavy-Duty and Nonroad Engine Group, Compliance and Innovative Strategies Division, Office of Transportation and Air Quality, U.S. Environmental Protection Agency; 1200 Pennsylvania Avenue, (6405J), NW., Washington, DC 20460. Telephone number: 202–343–9292; Fax number: 202–343–2804; E-mail address: Orehowsky.Gregory@epa.gov. SUPPLEMENTARY INFORMATION: I. Purpose This Federal Register document describes and seeks public comment on draft guidance for complying with adjustable parameter regulations at 40 CFR 86.094–22 as they apply to certification of on-highway heavy-duty diesel engines using selective catalytic reduction (SCR) technology to meet emission standards for oxides of nitrogen (NOX). This draft guidance includes EPA’s interpretation of relevant regulatory provisions in light of available information on current and developing approaches for effective SCR controls. After considering any public comments received, EPA will issue the guidance and interpretations in the Federal Register, and will use them in reviewing any application for certification application involving SCR received on or after the effective date of the guidance. The draft guidance contained in this document reflects the fact that manufacturers of heavy-duty engines and operators of trucks have gained significant experience in the design and use of SCR systems for these engines, and this experience should be reflected in the certification process. We invite public comment on the draft guidance and interpretations set forth below. Until the effective date of the final guidance and interpretations, manufacturers should continue to refer to the regulations and the existing guidance documents noted below and to work with their certification representatives. We recognize that SCR technology will continue to mature, and we anticipate that appropriate designs E:\FR\FM\07JNP1.SGM 07JNP1

Agencies

[Federal Register Volume 76, Number 109 (Tuesday, June 7, 2011)]
[Proposed Rules]
[Pages 32885-32886]
From the Federal Register Online via the Government Printing Office [www.gpo.gov]
[FR Doc No: 2011-13928]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 31

[REG-151687-10]
RIN 1545-BJ98


Withholding on Payments by Government Entities to Persons 
Providing Property or Services; Correction

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Correction to notice of proposed rulemaking.

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SUMMARY: This document contains a correction to a notice of proposed 
rulemaking (REG-151687-10) that was published in the Federal Register 
on Monday, May 9, 2011 (76 FR 26678). The proposed regulation provides 
guidance relating to withholding by government entities on payments to 
persons providing property or services.

FOR FURTHER INFORMATION CONTACT: A.G. Kelley, (202) 622-6040 (not a 
toll free number).

SUPPLEMENTARY INFORMATION: 

Background

    The notice of proposed rulemaking (REG-151687-10) that is the 
subject of this correction is under section 3042(t) of the Internal 
Revenue Code.

Need for Correction

    As published, the notice of proposed rulemaking (REG-151687-10) 
contains an error that may prove to be misleading and is in need of 
clarification.

Correction of Publication

    Accordingly, the notice of proposed rulemaking (REG-151687-10), 
that was the subject of FR Doc. 2011-10758, is corrected as follows:

[[Page 32886]]

Sec.  31.3402(t)-1  [Corrected]

    On Page 26679, column 2, under the paragraph heading Sec.  
31.3402(t)-1 Withholding requirement on certain payments made by 
government entities, line 7 from the bottom of the paragraph, the 
language ``a mere renewal of a contract. A material'' is corrected to 
read ``a mere renewal of a contract that does not otherwise materially 
affect the property or services to be provided under the contract, the 
terms of payment for the property or services under the contract, or 
the amount payable for the property or services under the contract. A 
material''.

LaNita VanDyke,
Chief, Publications and Regulations Branch, Legal Processing Division, 
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2011-13928 Filed 6-6-11; 8:45 am]
BILLING CODE 4830-01-P