Section 707 Regarding Disguised Sales, Generally; Correction, 80587 [2016-27515]
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Federal Register / Vol. 81, No. 221 / Wednesday, November 16, 2016 / Rules and Regulations
• Consider an exemption for PHAs
administering very few vouchers in Small
Area FMR areas. The final rule exempts HUD
Metropolitan FMR Areas with less than 2,500
HCVs under lease from using Small Area
FMRs.
In addition to the above, the presentation
of the information in HUD’s proposed
revision to its PHA administrative fee
formula would also soften any adverse
impact by providing additional resources to
small PHAs generally.
7. Conclusion
The majority of lessors of residential real
estate and a substantial fraction of PHAs are
characterized as small. If there were
disproportionate effects on small entities,
then a more detailed regulatory flexibility
analysis would be merited. However, after an
in-depth discussion of the industry structure
and impact of the rule, HUD cannot conclude
that there is a significant and
disproportionate impact on small entities. It
is true that many lessors may receive income
from voucher tenants but it is not likely that
they will be adversely affected once market
forces are accounted for. Small PHAs could
face an additional administrative burden but
HUD has offered solutions to significantly
reduce any burden.
[FR Doc. 2016–27114 Filed 11–15–16; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9787]
RIN 1545–BK29
Section 707 Regarding Disguised
Sales, Generally; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
This document contains
corrections to final regulations (TD
9787) that were published in the
Federal Register on Wednesday,
October 5, 2016 (81 FR 69291). The final
regulations are under sections 707 and
752 of the Internal Revenue Code.
DATES: This correction is effective
November 16, 2016 and is applicable on
and after October 5, 2016.
FOR FURTHER INFORMATION CONTACT:
Deane M. Burke or Caroline E. Hay at
(202) 317–5279 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
mstockstill on DSK3G9T082PROD with RULES
SUMMARY:
Background
The final regulations (TD 9787) that
are the subject of this correction are
under sections 707 and 752 of the
Internal Revenue Code.
VerDate Sep<11>2014
16:03 Nov 15, 2016
Jkt 241001
80587
Need for Correction
DEPARTMENT OF THE INTERIOR
As published, the final regulations
(TD 9787) contain errors that may prove
to be misleading and are in need of
clarification.
Bureau of Safety and Environmental
Enforcement
List of Subjects in 26 CFR Part 1
[Docket ID: BSEE–2016–0004; 17XE1700DX
EEEE500000 EX1SF0000.DAQ000]
Income taxes, Reporting and
recordkeeping requirements.
RIN 1014–AA32
30 CFR Part 250
Oil and Gas and Sulfur Operations in
the Outer Continental Shelf—
Decommissioning Costs for Pipelines
Correction of Publication
Accordingly, 26 CFR Part 1 is
corrected by making the following
correcting amendments:
■
Bureau of Safety and
Environmental Enforcement, Interior.
ACTION: Final rule.
AGENCY:
PART 1—INCOME TAXES
This rule amends Bureau of
Safety and Environmental Enforcement
(BSEE) regulations requiring lessees and
owners of operating rights to submit
summaries of actual decommissioning
Authority: 26 U.S.C. 7805 * * *
expenditures incurred for certain
Section 1.707–5 also issued under 26
decommissioning activities related to oil
U.S.C. 707(a)(2)(B).
and gas and sulfur operations on the
Outer Continental Shelf (OCS). The
§ 1.707–5 [Amended]
amendment requires lessees, owners of
■ Par. 2. For each entry in § 1.707–5(f)
operating rights, and right-of-way
in the ‘‘Section’’ column, remove the
(ROW) holders to submit summaries of
language in the ‘‘Remove’’ column from actual expenditures incurred for
wherever it appears in the Example and pipeline decommissioning activities.
add in its place the language in the
DATES: This final rule becomes effective
‘‘Add’’ column as set forth below:
on December 16, 2016.
FOR FURTHER INFORMATION CONTACT:
Section
Remove
Add
Betty Cox, Regulatory Analyst,
Regulations and Standards Branch at
Paragraph (f) Example
regs@bsee.gov or by telephone at (703)
5(i) .............................
2016
2017
787–1616.
Paragraph (f) Example
10(i) ...........................
2016
2017 SUPPLEMENTARY INFORMATION:
Paragraph (f) Example
BSEE’s Functions and Authority
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
■
10(ii) ..........................
Paragraph (f) Example
11(i) ...........................
Paragraph (f) Example
11(ii) ..........................
Paragraph (f) Example
12(i) ...........................
2016
2017
2016
SUMMARY:
2017
BSEE promotes safety, protects the
environment, and conserves natural
resources through vigorous regulatory
2016
2017 oversight and enforcement regarding
certain activities on the OCS. BSEE
2016
2017 derives its authority primarily from the
Outer Continental Shelf Lands Act
(OCSLA), 43 U.S.C. 1331–1356a.
Martin V. Franks,
Congress enacted OCSLA in 1953,
Chief, Publications and Regulations Branch,
codifying Federal control over the OCS
Legal Processing Division, Associate Chief
and authorizing the Secretary of the
Counsel (Procedure and Administration).
Interior (Secretary) to, among other
[FR Doc. 2016–27515 Filed 11–15–16; 8:45 am]
things, regulate oil and natural gas
BILLING CODE 4830–01–P
exploration, development, and
production operations and to grant
rights-of-way on the OCS. The Secretary
has authorized BSEE to perform certain
of these functions, including overseeing
decommissioning. (See 30 CFR 250.101;
30 CFR part 250, subpart Q.) To carry
out its responsibilities, BSEE regulates
exploration, development, and
production of oil and natural gas and
pipeline operations to enhance safety
and environmental protection in a way
that reflects advancements in
PO 00000
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Fmt 4700
Sfmt 4700
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16NOR1
]]>Agencies
[Federal Register Volume 81, Number 221 (Wednesday, November 16, 2016)]
[Rules and Regulations]
[Page 80587]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27515]
=======================================================================
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9787]
RIN 1545-BK29
Section 707 Regarding Disguised Sales, Generally; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final regulations (TD
9787) that were published in the Federal Register on Wednesday, October
5, 2016 (81 FR 69291). The final regulations are under sections 707 and
752 of the Internal Revenue Code.
DATES: This correction is effective November 16, 2016 and is applicable
on and after October 5, 2016.
FOR FURTHER INFORMATION CONTACT: Deane M. Burke or Caroline E. Hay at
(202) 317-5279 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final regulations (TD 9787) that are the subject of this
correction are under sections 707 and 752 of the Internal Revenue Code.
Need for Correction
As published, the final regulations (TD 9787) contain errors that
may prove to be misleading and are in need of clarification.
List of Subjects in 26 CFR Part 1
Income taxes, Reporting and recordkeeping requirements.
Correction of Publication
0
Accordingly, 26 CFR Part 1 is corrected by making the following
correcting amendments:
PART 1--INCOME TAXES
0
Paragraph 1. The authority citation for part 1 continues to read in
part as follows:
Authority: 26 U.S.C. 7805 * * *
Section 1.707-5 also issued under 26 U.S.C. 707(a)(2)(B).
Sec. 1.707-5 [Amended]
0
Par. 2. For each entry in Sec. 1.707-5(f) in the ``Section'' column,
remove the language in the ``Remove'' column from wherever it appears
in the Example and add in its place the language in the ``Add'' column
as set forth below:
------------------------------------------------------------------------
Section Remove Add
------------------------------------------------------------------------
Paragraph (f) Example 5(i).......................... 2016 2017
Paragraph (f) Example 10(i)......................... 2016 2017
Paragraph (f) Example 10(ii)........................ 2016 2017
Paragraph (f) Example 11(i)......................... 2016 2017
Paragraph (f) Example 11(ii)........................ 2016 2017
Paragraph (f) Example 12(i)......................... 2016 2017
------------------------------------------------------------------------
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel (Procedure and Administration).
[FR Doc. 2016-27515 Filed 11-15-16; 8:45 am]
BILLING CODE 4830-01-P
