Liabilities Recognized as Recourse Partnership Liabilities Under Section 752; Correction, 80993-80994 [2016-27517]
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Federal Register / Vol. 81, No. 222 / Thursday, November 17, 2016 / Rules and Regulations
Loan programs—Indians, Reporting and
recordkeeping requirements.
Accordingly, for the reasons stated in
the preamble, HUD amends 24 CFR
parts 5, 1000, 1003, 1005, 1006, and
1007, as follows:
PART 5—GENERAL HUD PROGRAM
REQUIREMENTS; WAIVERS
1. The authority citation for part 5
continues to read as follows:
2. In § 5.105, revise paragraph (a)(2) to
read as follows:
■
Other Federal requirements.
*
*
*
*
(a) * * *
(2) Equal access to HUD-assisted or
-insured housing. A determination of
eligibility for housing that is assisted by
HUD or subject to a mortgage insured by
HUD shall be made in accordance with
the eligibility requirements provided for
such program by HUD, and such
housing shall be made available without
regard to actual or perceived sexual
orientation, gender identity, or marital
status.
*
*
*
*
*
PART 1000—NATIVE AMERICAN
HOUSING ACTIVITIES
3. The authority citation for part 1000
continues to read as follows:
■
Authority: 25 U.S.C. 4101 et seq.; 42 U.S.C.
3535(d).
4. In § 1000.12, add paragraph (e) to
read as follows:
■
§ 1000.12 What nondiscrimination
requirements are applicable?
*
*
*
*
*
(e) The equal access to HUD-assisted
or -insured housing requirements in 24
CFR 5.105(a)(2).
PART 1003—COMMUNITY
DEVELOPMENT BLOCK GRANTS FOR
INDIAN TRIBES AND ALASKA NATIVE
VILLAGES
5. The authority citation for part 1003
continues to read as follows:
■
Authority: 42 U.S.C. 3535(d) and 5301 et
seq.
6. In § 1003.601, add paragraph (c) to
read as follows:
mstockstill on DSK3G9T082PROD with RULES
■
Nondiscrimination.
*
*
*
*
(c) A grantee shall comply with the
equal access to HUD-assisted or -insured
housing requirements in 24 CFR
5.105(a)(2).
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17:03 Nov 16, 2016
Jkt 241001
8. Add § 1005.115 to read as follows:
Equal Access.
The equal access to HUD-assisted or
-insured housing requirements in 24
CFR 5.105(a)(2) apply to this part.
Dated: November 4, 2016.
Lourdes Castro Ramirez,
Principal Deputy Assistant Secretary for
Public and Indian Housing.
Nani A. Coloretti,
Deputy Secretary.
[FR Doc. 2016–27196 Filed 11–16–16; 8:45 am]
BILLING CODE 4210–67–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
PART 1006—NATIVE HAWAIIAN
HOUSING BLOCK GRANT PROGRAM
[TD 9788]
RIN 1545–BM84
9. The authority citation for part 1006
continues to read as follows:
■
*
*
Authority: 12 U.S.C. 1715z–13a; 15 U.S.C.
1639c; 42 U.S.C. 3535(d).
§ 1005.115
Authority: 42 U.S.C. 1437a, 1437c, 1437d,
1437f, 1437n, 3535(d), Sec. 327, Pub. L. 109–
115, 119 Stat. 2936, and Sec. 607, Pub. L.
109–162, 119 Stat. 3051.
§ 1003.601
7. The authority citation for part 1005
continues to read as follows:
■
■
■
§ 5.105
PART 1005—LOAN GUARANTEES
FOR INDIAN HOUSING
80993
Authority: 25 U.S.C. 4221 et seq.; 42 U.S.C.
3535(d).
10. In § 1006.355, revise the
introductory paragraph and add
paragraph (d) to read as follows:
■
Program eligibility under the Act and
this part may be restricted to Native
Hawaiians. Subject to the preceding
sentence, no person may be
discriminated against on the basis of
race, color, national origin, religion, sex,
familial status, or disability, or excluded
from program eligibility because of
actual or perceived sexual orientation,
gender identity, or marital status. The
following nondiscrimination
requirements are applicable to the use of
NHHBG funds:
*
*
*
*
*
(d) The equal access to HUD-assisted
or -insured housing requirements in 24
CFR 5.105(a)(2).
PART 1007—SECTION 184A LOAN
GUARANTEES FOR NATIVE
HAWAIIAN HOUSING
11. The authority citation for part
1007 continues to read as follows:
■
Authority: 12 U.S.C. 1715z–13b; 15 U.S.C.
1639c; 42 U.S.C. 3535(d).
12. Amend § 1007.45 by revising the
section heading, redesignating the
undesignated paragraph as paragraph
(a), and adding paragraph (b) to read as
follows:
■
Nondiscrimination.
*
*
*
*
*
(b) The equal access to HUD-assisted
or -insured housing requirements in 24
CFR 5.105(a)(2) apply to this part.
PO 00000
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Fmt 4700
Sfmt 4700
Internal Revenue Service (IRS),
Treasury.
ACTION: Correcting amendment.
AGENCY:
This document contains
corrections to final and temporary
regulations (TD 9788) that were
published in the Federal Register on
Wednesday, October 5, 2016 (81 FR
69282). The final and temporary
regulations provide rules concerning
how liabilities are allocated for
purposes of section 707 of the Internal
Revenue Code and when certain
obligations are recognized for purposes
of determining whether a liability is a
recourse partnership liability under
section 752.
DATES: This correction is effective
November 17, 2016 and is applicable on
and after January 3, 2017.
FOR FURTHER INFORMATION CONTACT:
Caroline E. Hay or Deane M. Burke (202)
317–5279 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
§ 1006.355 Nondiscrimination
requirements.
§ 1007.45
Liabilities Recognized as Recourse
Partnership Liabilities Under Section
752; Correction
Background
The final and temporary regulations
(TD 9788) 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 and temporary
regulations (TD 9788) 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
Accordingly, 26 CFR part 1 is
corrected by making the following
correcting amendments:
E:\FR\FM\17NOR1.SGM
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80994
Federal Register / Vol. 81, No. 222 / Thursday, November 17, 2016 / Rules and Regulations
PART 1—INCOME TAXES
DEPARTMENT OF THE TREASURY
Paragraph 1. The authority citation
for part 1 continues to read in part as
follows:
Internal Revenue Service
Authority: 26 U.S.C. 7805 * * *
Section 1.707–5T also issued under 26
U.S.C. 707(a)(2)(B).
[TD 9788]
■
26 CFR Part 1
RIN 1545–BM84
Par. 2. Section 1.707–5T is amended
by revising paragraph (a)(2)(i); and
paragraph (f) Example 7 (i) is amended
by revising the second to last sentence.
The revisions read as follows:
■
§ 1.707–5T Disguised sales of property to
partnership; special rules relating to
liabilities (temporary).
(a) * * *
(2) * * *
(i) In general. For purposes of § 1.707–
5, a partner’s share of a liability of a
partnership, as defined in § 1.752–1(a)
(whether a recourse liability or a
nonrecourse liability) is determined by
applying the same percentage used to
determine the partner’s share of the
excess nonrecourse liability under
§ 1.752–3(a)(3) (as limited in its
application to this paragraph (a)(2)), but
such share shall not exceed the partner’s
share of the partnership liability under
section 752 and applicable regulations
(as limited in the application of § 1.752–
3(a)(3) to this paragraph (a)(2)).
*
*
*
*
*
(f) * * *
Example 7. * * *
(i) * * * For disguised sale purposes,
assume that G’s and H’s share of liability 1
is $2,000 each in accordance with paragraph
(a)(2) of this section (which determines a
partner’s share of a liability using the
percentage under § 1.752–3(a)(3), but not
exceeding the partner’s share of the liability
under section 752 and applicable
regulations). * * *
*
*
*
*
*
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 2016–27517 Filed 11–16–16; 8:45 am]
mstockstill on DSK3G9T082PROD with RULES
BILLING CODE 4830–01–P
VerDate Sep<11>2014
17:03 Nov 16, 2016
Jkt 241001
Liabilities Recognized as Recourse
Partnership Liabilities Under Section
752; Correction
Internal Revenue Service (IRS),
Treasury.
ACTION: Final and temporary
regulations; correction.
AGENCY:
This document contains
corrections to final and temporary
regulations (TD 9788) that were
published in the Federal Register on
Wednesday, October 5, 2016 (81 FR
69282). The final and temporary
regulations provide rules concerning
how liabilities are allocated for
purposes of section 707 of the Internal
Revenue Code and when certain
obligations are recognized for purposes
of determining whether a liability is a
recourse partnership liability under
section 752.
DATES: This correction is effective
November 17, 2016 and is applicable on
and after January 3, 2017.
FOR FURTHER INFORMATION CONTACT:
Caroline E. Hay or Deane M. Burke (202)
317–5279 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
SUMMARY:
Background
Need for Correction
As published, the final and temporary
regulations (TD 9788) contain errors that
may prove to be misleading and are in
need of clarification.
Correction of Publication
Accordingly, the final and temporary
regulations (TD 9788), that are the
subject of FR Doc. 2016–23388, are
corrected as follows:
On page 69284, in the preamble, first
column, the last sentence from the
bottom of the first full paragraph,
‘‘Therefore, the 707 Temporary
Regulations provide that a partner’s
share of a partnership liability for
disguised sale purposes does not
include any amount of the liability for
which another partner bears the EROL
for the partnership liability under
§ 1.752–2.’’ is corrected to read
‘‘Therefore, the 707 Temporary
Frm 00006
Martin V. Franks,
Chief, Publications and Regulations Branch,
Legal Processing Division, Associate Chief
Counsel, (Procedure and Administration).
[FR Doc. 2016–27516 Filed 11–16–16; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE INTERIOR
Bureau of Safety and Environmental
Enforcement
30 CFR Part 250
[Docket ID: BSEE–2016–0010; 17XE1700DX
EEEE500000 EX1SF0000.DAQ000]
RIN 1014–AA30
Civil Penalty Inflation Adjustment
Bureau of Safety and
Environmental Enforcement, Interior.
ACTION: Final rule.
AGENCY:
This final rule adjusts the
level of the civil monetary penalty
contained in the Bureau of Safety and
Environmental Enforcement (BSEE)
regulations pursuant to the Outer
Continental Shelf Lands Act (OCSLA),
the Federal Civil Penalties Inflation
Adjustment Act Improvements Act of
2015, and Office of Management and
Budget (OMB) guidance.
DATES: Effective November 17, 2016.
FOR FURTHER INFORMATION CONTACT:
Robert Fisher, Acting Chief Safety and
Enforcement Division, Bureau of Safety
and Environmental Enforcement, (202)
208–3955 or by email: regs@bsee.gov.
SUPPLEMENTARY INFORMATION:
SUMMARY:
The final and temporary regulations
(TD 9788) that are the subject of this
correction are under sections 707 and
752 of the Internal Revenue Code.
PO 00000
Regulations provide that for purposes of
§ 1.707–5, a partner’s share of a liability
of a partnership, as defined in § 1.752–
1(a) (whether a recourse liability or a
nonrecourse liability) is determined by
applying the same percentage used to
determine the partner’s share of the
excess nonrecourse liability under
§ 1.752–3(a)(3) (as limited in its
application to § 1.707–5T(a)(2)), but
such share shall not exceed the partner’s
share of the partnership liability under
section 752 and applicable regulations
(as limited in the application of § 1.752–
3(a)(3) to § 1.707–5T(a)(2)).’’.
Fmt 4700
Sfmt 4700
I. Background
II. Calculation of Adjustment
III. Comments Received on the Interim Final
Rule
IV. Procedural Matters
A. Regulatory Planning and Review (E.O.
12866 and 13563)
B. Regulatory Flexibility Act
C. Small Business Regulatory Enforcement
Fairness Act
D. Unfunded Mandates Reform Act
E. Takings (E.O. 12630)
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]]>Agencies
[Federal Register Volume 81, Number 222 (Thursday, November 17, 2016)]
[Rules and Regulations]
[Pages 80993-80994]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2016-27517]
=======================================================================
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DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[TD 9788]
RIN 1545-BM84
Liabilities Recognized as Recourse Partnership Liabilities Under
Section 752; Correction
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Correcting amendment.
-----------------------------------------------------------------------
SUMMARY: This document contains corrections to final and temporary
regulations (TD 9788) that were published in the Federal Register on
Wednesday, October 5, 2016 (81 FR 69282). The final and temporary
regulations provide rules concerning how liabilities are allocated for
purposes of section 707 of the Internal Revenue Code and when certain
obligations are recognized for purposes of determining whether a
liability is a recourse partnership liability under section 752.
DATES: This correction is effective November 17, 2016 and is applicable
on and after January 3, 2017.
FOR FURTHER INFORMATION CONTACT: Caroline E. Hay or Deane M. Burke
(202) 317-5279 (not a toll-free number).
SUPPLEMENTARY INFORMATION:
Background
The final and temporary regulations (TD 9788) 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 and temporary regulations (TD 9788) 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
Accordingly, 26 CFR part 1 is corrected by making the following
correcting amendments:
[[Page 80994]]
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 1.707-5T also issued under 26 U.S.C. 707(a)(2)(B).
0
Par. 2. Section 1.707-5T is amended by revising paragraph (a)(2)(i);
and paragraph (f) Example 7 (i) is amended by revising the second to
last sentence. The revisions read as follows:
Sec. 1.707-5T Disguised sales of property to partnership; special
rules relating to liabilities (temporary).
(a) * * *
(2) * * *
(i) In general. For purposes of Sec. 1.707-5, a partner's share of
a liability of a partnership, as defined in Sec. 1.752-1(a) (whether a
recourse liability or a nonrecourse liability) is determined by
applying the same percentage used to determine the partner's share of
the excess nonrecourse liability under Sec. 1.752-3(a)(3) (as limited
in its application to this paragraph (a)(2)), but such share shall not
exceed the partner's share of the partnership liability under section
752 and applicable regulations (as limited in the application of Sec.
1.752-3(a)(3) to this paragraph (a)(2)).
* * * * *
(f) * * *
Example 7. * * *
(i) * * * For disguised sale purposes, assume that G's and H's
share of liability 1 is $2,000 each in accordance with paragraph
(a)(2) of this section (which determines a partner's share of a
liability using the percentage under Sec. 1.752-3(a)(3), but not
exceeding the partner's share of the liability under section 752 and
applicable regulations). * * *
* * * * *
Martin V. Franks,
Chief, Publications and Regulations Branch, Legal Processing Division,
Associate Chief Counsel, (Procedure and Administration).
[FR Doc. 2016-27517 Filed 11-16-16; 8:45 am]
BILLING CODE 4830-01-P
