Amendments to the Low-Income Housing Credit Compliance-Monitoring Regulations, 9379-9380 [2016-04004]

Download as PDF Federal Register / Vol. 81, No. 37 / Thursday, February 25, 2016 / Proposed Rules (iii) AMOC ANM–116–14–429, dated September 25, 2014, is not approved as an AMOC for the corresponding provisions of this AD. (2) Contacting the Manufacturer: As of the effective date of this AD, for any requirement in this AD to obtain corrective actions from a manufacturer, the action must be accomplished using a method approved by the Manager, International Branch, ANM– 116, Transport Airplane Directorate, FAA; or the European Aviation Safety Agency (EASA); or Airbus’s EASA Design Organization Approval (DOA). If approved by the DOA, the approval must include the DOA-authorized signature. (3) Required for Compliance (RC): If any service information contains procedures or tests that are identified as RC, those procedures and tests must be done to comply with this AD; any procedures or tests that are not identified as RC are recommended. Those procedures and tests that are not identified as RC may be deviated from using accepted methods in accordance with the operator’s maintenance or inspection program without obtaining approval of an AMOC, provided the procedures and tests identified as RC can be done and the airplane can be put back in an airworthy condition. Any substitutions or changes to procedures or tests identified as RC require approval of an AMOC. rmajette on DSK2TPTVN1PROD with PROPOSALS (u) Related Information (1) Refer to Mandatory Continuing Airworthiness Information (MCAI) EASA Airworthiness Directive 2015–0009, dated January 16, 2015, for related information. This MCAI may be found in the AD docket on the Internet at http://www.regulations.gov by searching for and locating Docket No. FAA–2016–3701. (2) Service information identified in this AD that is not incorporated by reference may be obtained at Airbus SAS—Airworthiness Office—EAL, 1 Rond Point Maurice Bellonte, 31707 Blagnac Cedex, France; telephone +33 5 61 93 36 96; fax +33 5 61 93 45 80; email airworthiness.A330–A340@airbus.com; Internet http://www.airbus.com. (3) For service information identified in this AD, contact Airbus SAS—Airworthiness Office—EAL, 1 Rond Point Maurice Bellonte, 31707 Blagnac Cedex, France; telephone +33 5 61 93 36 96; fax +33 5 61 93 45 80; email airworthiness.A330–A340@airbus.com; Internet http://www.airbus.com. You may view this service information at the FAA, Transport Airplane Directorate, 1601 Lind Avenue SW., Renton, WA. For information on the availability of this material at the FAA, call 425–227–1221. Issued in Renton, Washington, on February 15, 2016. Michael Kaszycki, Acting Manager, Transport Airplane Directorate, Aircraft Certification Service. [FR Doc. 2016–03699 Filed 2–24–16; 8:45 am] BILLING CODE 4910–13–P VerDate Sep<11>2014 13:27 Feb 24, 2016 Jkt 238001 DEPARTMENT OF THE TREASURY Internal Revenue Service [REG–150349–12] RIN 1545–BL39 Amendments to the Low-Income Housing Credit Compliance-Monitoring Regulations Internal Revenue Service (IRS), Treasury. ACTION: Notice of proposed rulemaking by cross-reference to temporary regulations. AGENCY: In the Rules and Regulations section of this issue of the Federal Register, the IRS is issuing final and temporary regulations concerning the compliance-monitoring duties of a State or local housing credit agency (Agency) for purposes of the low-income housing credit. The final and temporary regulations revise and clarify certain rules relating to the requirements to conduct physical inspections and review low-income certifications and other documentation. The text of the temporary regulations also serves as the text of these proposed regulations. DATES: Comments and requests for a public hearing must be received by May 25, 2016. ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG–150349–12), room 5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, Washington, DC 20044. Submissions may be hand delivered Monday through Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG–150349– 12), Courier’s Desk, Internal Revenue Service, 1111 Constitution Avenue NW., Washington, DC. Submissions may also be sent electronically via the Federal eRulemaking Portal at www.regulations.gov (IRS REG–150349– 12). FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Jian H. Grant, (202) 317–4137, and Martha M. Garcia, (202) 317–6853 (not toll-free numbers); concerning submission of comments, the hearing, and/or to be placed on the building access list to attend the hearing, Oluwafunmilayo Taylor at (202) 317–6901 (not a toll-free number). SUPPLEMENTARY INFORMATION: SUMMARY: Background Final and temporary regulations in the Rules and Regulations section of this issue of the Federal Register amend the Income Tax Regulations (26 CFR part 1) Frm 00017 Fmt 4702 Sfmt 4702 relating to section 42 and serve as the text for these proposed regulations. Special Analyses 26 CFR Part 1 PO 00000 9379 Certain IRS regulations, including this one, are exempt from the requirements of Executive Order 12866, as supplemented and reaffirmed by Executive Order 13563. Therefore, a regulatory assessment is not required. It also has been determined that section 553(b) of the Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to these regulations, and because the regulations do not impose a collection of information on small entities, the Regulatory Flexibility Act (5 U.S.C. chapter 6) does not apply. Pursuant to section 7805(f) of the Internal Revenue Code, this notice of proposed rulemaking will be submitted to the Chief Counsel for Advocacy of the Small Business Administration for comment on their impact on small business. Comments and Requests for Public Hearing Before these proposed regulations are adopted as final regulations, consideration will be given to any comments that are submitted timely to the IRS as prescribed in this preamble under the ‘‘ADDRESSES’’ heading. The Treasury Department and the IRS request comments on all aspects of the proposed rules. All comments will be available at www.regulations.gov or upon request. A public hearing will be scheduled if requested in writing by any person that timely submits written comments. If a public hearing is scheduled, notice of the date, time, and place for the public hearing will be published in the Federal Register. Drafting Information The principal authors of these regulations are Jian H. Grant and Martha M. Garcia, Office of the Associate Chief Counsel (Passthroughs and Special Industries). However, other personnel from the IRS and the Treasury Department participated in their development. List of Subjects in 26 CFR Part 1 Income taxes, Reporting and recordkeeping requirements. Proposed Amendments to the Regulations Accordingly, 26 CFR part 1 is proposed to be amended as follows: PART 1—INCOME TAXES Paragraph 1. The authority citation continues to read in part as follows: ■ Authority: 26 U.S.C. 7805 * * * E:\FR\FM\25FEP1.SGM 25FEP1 9380 Federal Register / Vol. 81, No. 37 / Thursday, February 25, 2016 / Proposed Rules Par. 2. Section 1.42–5 is amended by revising paragraphs (a)(2)(iii), (c)(2)(ii) and (iii), and (c)(3), and adding two sentences to paragraph (h) to read as follows: ■ § 1.42–5 Monitoring compliance with lowincome housing credit requirements. (a) * * * (2) * * * (iii) [The text of proposed amendments to § 1.42–5(a)(2)(iii) is the same as the text of § 1.42–5T(a)(2)(iii) published elsewhere in this issue of the Federal Register]. * * * * * (c) * * * (2) * * * (ii) [The text of proposed amendments to § 1.42–5(c)(2)(ii) is the same as the text of § 1.42–5T(c)(2)(ii) published elsewhere in this issue of the Federal Register]. (iii) [The text of proposed amendments to § 1.42–5(c)(2)(iii) is the same as the text of § 1.42–5T(c)(2)(iii) published elsewhere in this issue of the Federal Register]. (3) [The text of proposed amendments to § 1.42–5(c)(3) is the same as the text of § 1.42–5T(c)(3) published elsewhere in this issue of the Federal Register]. * * * * * (h) * * * [The text of the proposed addition to § 1.42–5(h) is the same as the text of the first two sentences of § 1.42–5T(h)(1) published elsewhere in this issue of the Federal Register]. * * * * * John Dalrymple, Deputy Commissioner for Services and Enforcement. [FR Doc. 2016–04004 Filed 2–23–16; 4:15 pm] BILLING CODE 4830–01–P DEPARTMENT OF HOMELAND SECURITY Coast Guard 33 CFR Part 100 and 165 [Docket No. USCG–2015–1052] rmajette on DSK2TPTVN1PROD with PROPOSALS RIN 1625–AA08; AA00 Special Local Regulations and Safety Zones; Recurring Marine Events Held in the Coast Guard Sector Northern New England Captain of the Port Zone Coast Guard, DHS. Notice of proposed rulemaking. AGENCY: ACTION: The Coast Guard proposes to update special local regulations and permanent safety zones in the Coast SUMMARY: VerDate Sep<11>2014 13:27 Feb 24, 2016 Jkt 238001 Guard Sector Northern New England Captain of the Port Zone for annual recurring marine events. When enforced, these proposed special local regulations and safety zones would restrict vessels from portions of water areas during certain annually recurring events. The proposed special local regulations and safety zones are intended to expedite public notification and ensure the protection of the maritime public and event participants from the hazards associated with certain maritime events. We invite your comments on this proposed rulemaking. DATES: Comments and related material must be received by the Coast Guard on or before April 25, 2016. ADDRESSES: You may submit comments identified by docket number USCG– 2015–1052 the Federal eRulemaking Portal http://www.regulations.gov. See the ‘‘Public Participation and Request for Comments’’ portion of the SUPPLEMENTARY INFORMATION section for instructions on submitting comments. FOR FURTHER INFORMATION CONTACT: If you have questions about this proposed rulemaking, call or email Chief Marine Science Technician Chris Bains, Waterways Management Division at Coast Guard Sector Northern New England, telephone (207) 347–5003, or email Chris.D.Bains@uscg.mil. SUPPLEMENTARY INFORMATION: I. Table of Abbreviations CFR Code of Federal Regulations DHS Department of Homeland Security E.O. Executive order FR Federal Register NPRM Notice of proposed rulemaking Pub. L. Public Law § Section U.S.C. United States Code II. Background, Purpose, and Legal Basis Swim events, fireworks displays, and marine events are held on an annual recurring basis on the navigable waters within the Coast Guard Sector Northern New England COTP Zone. In the past, the Coast Guard has established special local regulations, regulated areas, and safety zones for these annual recurring events on a case by case basis to ensure the protection of the maritime public and event participants from the hazards associated with these events. As mentioned above, the Coast Guard has not received public comments or concerns regarding the impact to waterway traffic from the Coast Guard’s regulations associated with these annually recurring events. In the past year, events were assessed for their likelihood to recur in subsequent years or to discontinue, and were added to or PO 00000 Frm 00018 Fmt 4702 Sfmt 4702 deleted from the tables accordingly. In addition, minor changes to existing events were made to ensure the accuracy of event details. The purpose of this rulemaking is to reduce administrative overhead, expedite public notification of events, and ensure the protection of the maritime public during marine events in the Sector Northern New England area. The Coast Guard proposes this rulemaking under authority in 33 U.S.C. 1231. III. Discussion of Proposed Rule The proposed rule would update the tables of annual recurring events in the existing regulation for the Coast Guard Sector Northern New England COTP Zone. The tables provide the event name, sponsor, and type, as well as approximate times, dates, and locations of the events. Advanced public notification of specific times, dates, regulated areas, and enforcement periods for each event will be provided through appropriate means, which may include, but are not limited to, the Local Notice to Mariners, Broadcast Notice to Mariners, or a Notice of Enforcement published in the Federal Register at least 30 days prior to the event date. If an event does not have a date and time listed in this regulation, then the precise dates and times of the enforcement period for that event will be announced through a Local Notice to Mariners and, if time permits, a Notice of Enforcement in the Federal Register. IV. Regulatory Analyses We developed this proposed rule after considering numerous statutes and executive orders (E.O.s) related to rulemaking. Below we summarize our analyses based on a number of these statutes and E.O.s, and we discuss First Amendment rights of protestors. A. Regulatory Planning and Review E.O.s 12866 and 13563 direct agencies to assess the costs and benefits of available regulatory alternatives and, if regulation is necessary, to select regulatory approaches that maximize net benefits. E.O. 13563 emphasizes the importance of quantifying both costs and benefits, of reducing costs, of harmonizing rules, and of promoting flexibility. This NPRM has not been designated a ‘‘significant regulatory action,’’ under E.O. 12866. Accordingly, the NPRM has not been reviewed by the Office of Management and Budget. We expect the economic impact of this proposed rule to be minimal. Although this regulation may have some impact on the public, the potential impact will be minimized for the E:\FR\FM\25FEP1.SGM 25FEP1

Agencies

[Federal Register Volume 81, Number 37 (Thursday, February 25, 2016)]
[Proposed Rules]
[Pages 9379-9380]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-04004]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service

26 CFR Part 1

[REG-150349-12]
RIN 1545-BL39


Amendments to the Low-Income Housing Credit Compliance-Monitoring 
Regulations

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of proposed rulemaking by cross-reference to temporary 
regulations.

-----------------------------------------------------------------------

SUMMARY: In the Rules and Regulations section of this issue of the 
Federal Register, the IRS is issuing final and temporary regulations 
concerning the compliance-monitoring duties of a State or local housing 
credit agency (Agency) for purposes of the low-income housing credit. 
The final and temporary regulations revise and clarify certain rules 
relating to the requirements to conduct physical inspections and review 
low-income certifications and other documentation. The text of the 
temporary regulations also serves as the text of these proposed 
regulations.

DATES: Comments and requests for a public hearing must be received by 
May 25, 2016.

ADDRESSES: Send submissions to: CC:PA:LPD:PR (REG-150349-12), room 
5203, Internal Revenue Service, P.O. Box 7604, Ben Franklin Station, 
Washington, DC 20044. Submissions may be hand delivered Monday through 
Friday between the hours of 8 a.m. and 4 p.m. to: CC:PA:LPD:PR (REG-
150349-12), Courier's Desk, Internal Revenue Service, 1111 Constitution 
Avenue NW., Washington, DC. Submissions may also be sent electronically 
via the Federal eRulemaking Portal at www.regulations.gov (IRS REG-
150349-12).

FOR FURTHER INFORMATION CONTACT: Concerning the regulations, Jian H. 
Grant, (202) 317-4137, and Martha M. Garcia, (202) 317-6853 (not toll-
free numbers); concerning submission of comments, the hearing, and/or 
to be placed on the building access list to attend the hearing, 
Oluwafunmilayo Taylor at (202) 317-6901 (not a toll-free number).

SUPPLEMENTARY INFORMATION:

Background

    Final and temporary regulations in the Rules and Regulations 
section of this issue of the Federal Register amend the Income Tax 
Regulations (26 CFR part 1) relating to section 42 and serve as the 
text for these proposed regulations.

Special Analyses

    Certain IRS regulations, including this one, are exempt from the 
requirements of Executive Order 12866, as supplemented and reaffirmed 
by Executive Order 13563. Therefore, a regulatory assessment is not 
required. It also has been determined that section 553(b) of the 
Administrative Procedure Act (5 U.S.C. chapter 5) does not apply to 
these regulations, and because the regulations do not impose a 
collection of information on small entities, the Regulatory Flexibility 
Act (5 U.S.C. chapter 6) does not apply. Pursuant to section 7805(f) of 
the Internal Revenue Code, this notice of proposed rulemaking will be 
submitted to the Chief Counsel for Advocacy of the Small Business 
Administration for comment on their impact on small business.

Comments and Requests for Public Hearing

    Before these proposed regulations are adopted as final regulations, 
consideration will be given to any comments that are submitted timely 
to the IRS as prescribed in this preamble under the ``ADDRESSES'' 
heading. The Treasury Department and the IRS request comments on all 
aspects of the proposed rules. All comments will be available at 
www.regulations.gov or upon request. A public hearing will be scheduled 
if requested in writing by any person that timely submits written 
comments. If a public hearing is scheduled, notice of the date, time, 
and place for the public hearing will be published in the Federal 
Register.

Drafting Information

    The principal authors of these regulations are Jian H. Grant and 
Martha M. Garcia, Office of the Associate Chief Counsel (Passthroughs 
and Special Industries). However, other personnel from the IRS and the 
Treasury Department participated in their development.

List of Subjects in 26 CFR Part 1

    Income taxes, Reporting and recordkeeping requirements.

Proposed Amendments to the Regulations

    Accordingly, 26 CFR part 1 is proposed to be amended as follows:

PART 1--INCOME TAXES

0
Paragraph 1. The authority citation continues to read in part as 
follows:

    Authority:  26 U.S.C. 7805 * * *


[[Page 9380]]


0
Par. 2. Section 1.42-5 is amended by revising paragraphs (a)(2)(iii), 
(c)(2)(ii) and (iii), and (c)(3), and adding two sentences to paragraph 
(h) to read as follows:


Sec.  1.42-5  Monitoring compliance with low-income housing credit 
requirements.

    (a) * * *
    (2) * * *
    (iii) [The text of proposed amendments to Sec.  1.42-5(a)(2)(iii) 
is the same as the text of Sec.  1.42-5T(a)(2)(iii) published elsewhere 
in this issue of the Federal Register].
* * * * *
    (c) * * *
    (2) * * *
    (ii) [The text of proposed amendments to Sec.  1.42-5(c)(2)(ii) is 
the same as the text of Sec.  1.42-5T(c)(2)(ii) published elsewhere in 
this issue of the Federal Register].
    (iii) [The text of proposed amendments to Sec.  1.42-5(c)(2)(iii) 
is the same as the text of Sec.  1.42-5T(c)(2)(iii) published elsewhere 
in this issue of the Federal Register].
    (3) [The text of proposed amendments to Sec.  1.42-5(c)(3) is the 
same as the text of Sec.  1.42-5T(c)(3) published elsewhere in this 
issue of the Federal Register].
* * * * *
    (h) * * *
    [The text of the proposed addition to Sec.  1.42-5(h) is the same 
as the text of the first two sentences of Sec.  1.42-5T(h)(1) published 
elsewhere in this issue of the Federal Register].
* * * * *

John Dalrymple,
Deputy Commissioner for Services and Enforcement.
[FR Doc. 2016-04004 Filed 2-23-16; 4:15 pm]
 BILLING CODE 4830-01-P