Proposed Collection; Comment Request for Regulation Project, 43825-43826 [2014-17751]

Download as PDF 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]


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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.

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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