Proposed Extension of Information Collection Request Submitted for Public Comment; Comment Request Relating to Low-Income Housing Credit-Carryover Allocations, Binding Agreement, & Utility Allowances, 16192 [2020-05917]

Agencies

• Internal Revenue Service
• DEPARTMENT OF THE TREASURY

[Federal Register Volume 85, Number 55 (Friday, March 20, 2020)]
[Notices]
[Page 16192]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2020-05917]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Proposed Extension of Information Collection Request Submitted 
for Public Comment; Comment Request Relating to Low-Income Housing 
Credit--Carryover Allocations, Binding Agreement, & Utility Allowances

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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SUMMARY: The Internal Revenue Service, as part of its continuing effort 
to reduce paperwork and respondent burden, invites the 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. Currently, the IRS is soliciting comments 
concerning carryover allocations and other rules relating to the low-
income housing credit, and the section 42 utility allowance regulations 
concerning the low-income housing tax credit.

DATES: Written comments should be received on or before May 19, 2020 to 
be assured of consideration.

ADDRESSES: Direct all written comments to Gerald Pieger, Internal 
Revenue Service, Room 6529, 1111 Constitution Avenue NW, Washington, DC 
20224. Requests for additional information or copies of the regulations 
should be directed to R. Joseph Durbala, at Internal Revenue Service, 
Room 6129, 1111 Constitution Avenue NW, Washington, DC 20224, or 
through the internet, at [email protected].

SUPPLEMENTARY INFORMATION: 
    Title: Low-income housing credit--carryover allocations, binding 
agreement, & utility allowances.
    OMB Number: 1545-1102.
    Regulation Project Number: TD 9420.
    Abstract: This collection covers regulations that amend the utility 
allowances regulations concerning the low-income housing tax credit. 
The regulations update the utility allowance regulations to provide new 
options for estimating tenant utility costs. The regulations affect 
owners of low-income housing projects who claim the credit, the tenants 
in those low-income housing projects, and the State and local housing 
credit agencies that administer the credit.
    Current Actions: There is no change to the burden previously 
approved by OMB. This request is being submitted for renewal purposes 
only.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business or other for-profit organizations.
    Estimated Number of Respondents: 4,430.
    Estimated Time per Respondent: 1 hour, 50 min.
    Estimated Total Annual Burden Hours: 4,008.
    The following paragraph applies to all 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 if 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.
    Desired Focus of Comments: The Internal Revenue Service (IRS) is 
particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including using appropriate automated, 
electronic, mechanical, or other technological collection techniques or 
other forms of information technology, e.g., by permitting electronic 
submissions of responses.
    Comments submitted in response to this notice will be summarized 
and/or included in the ICR for OMB approval of the extension of the 
information collection; they will also become a matter of public 
record.

    Approved: March 16, 2020.
R. Joseph Durbala,
IRS Tax Analyst.
[FR Doc. 2020-05917 Filed 3-19-20; 8:45 am]
 BILLING CODE 4830-01-P