Section 42, Low-Income Housing Credit Average Income Test Regulations; Hearing, 7986-7987 [2021-02146]
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7986
Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Proposed Rules
jointly held with one or more other
businesses.
(2) Shared employees. When sharing
space with other businesses as
described in paragraph (e)(1) of this
section, a national bank or Federal
savings association may provide, under
one or more written agreements between
the national bank or Federal savings
association, the other business, and
their employees, that:
(i) A national bank or Federal savings
association employee may act as agent
for the other business; or
(ii) An employee of the other business
may act as agent for the national bank
or Federal savings association.
(3) Supervisory conditions. When a
national bank or Federal savings
association engages in arrangements of
the types listed in paragraphs (e)(1) and
(2) of this section, the national bank or
Federal savings association must ensure:
(i) The other business is
conspicuously, accurately, and
separately identified;
(ii) Shared employees clearly and
fully disclose the nature of their agency
relationship to customers of the national
bank or Federal savings association and
of the other businesses so that
customers will know the identity of the
national bank, Federal savings
association, or other business that is
providing the product or service;
(iii) The arrangement does not
constitute a joint venture or partnership
with the other business under
applicable state law;
(iv) All aspects of the relationship
between the national bank or Federal
savings association and the other
business are conducted at arm’s length,
unless a special arrangement is
warranted because the other business is
a subsidiary of the national bank or
Federal savings association;
(v) Security issues arising from the
activities of the other business on the
premises are addressed;
(vi) The activities of the other
business do not adversely affect the
safety and soundness of the national
bank or Federal savings association;
(vii) The shared employees or the
entity for which they perform services
are duly licensed or meet qualification
requirements of applicable statutes and
regulations pertaining to agents or
employees of such other business; and
(viii) The assets and records of the
parties are segregated.
(4) Other legal requirements. When
entering into arrangements of the types
described in paragraphs (e)(1) and (2) of
this section, and in conducting
operations pursuant to those
arrangements, a national bank or
Federal savings association must ensure
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15:58 Feb 02, 2021
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that each arrangement complies with all
applicable laws and regulations. If the
arrangement involves an affiliate or a
shareholder, director, officer, or
employee of the national bank or
Federal savings association:
(i) The national bank or Federal
savings association must ensure
compliance with all applicable statutory
and regulatory provisions governing
national bank or Federal savings
association transactions with these
persons or entities;
(ii) The parties must comply with all
applicable fiduciary duties; and
(iii) The parties, if they are in
competition with each other, must
consider limitations, if any, imposed by
applicable antitrust laws.
(f) Permissible means of holding real
estate and fixed assets.
(1) Permissible means of holding. A
national bank or Federal savings
association may acquire and hold real
estate under paragraph (b) of this
section by any reasonable and prudent
means, including ownership in fee, a
leasehold estate, or in an interest in a
cooperative. A national bank or Federal
savings association may hold this real
estate directly or through one or more
subsidiaries. A national bank or Federal
savings association may organize a bank
occupied premises subsidiary as a
corporation, partnership, limited
liability company, or any other similar
entity.
(2) Fixed assets. A national bank or
Federal savings association may own
fixed assets necessary for the transaction
of its business, such as fixtures,
furniture, and data processing
equipment.
(3) Investment in banking premises.
(i) Premises investment and approval.
A national bank or Federal savings
association must comply with the
investment and approval requirements
for investment in banking premises in
12 CFR 5.37(d).
(ii) Option to purchase. An
unexercised option to purchase banking
premises or stock in a corporation
holding banking premises is not an
investment in banking premises.
However, a national bank or Federal
savings association seeking to exercise
such an option must comply with the
requirements in 12 CFR 5.37(d).
(g) Transition. If, on XX, 20XX, a
national bank or Federal savings
association holds an investment in real
estate, fixed assets, banking premises, or
other real property that complies with
the legal requirements in effect prior to
XX, 20XX, but would violate any
provision of this section, the national
bank or Federal savings association may
continue to hold such investment in
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accordance with the prior legal
requirements. However, a national bank
or Federal savings association that holds
such an investment may not modify,
expand, or improve this investment,
except for routine maintenance, without
the prior approval of the appropriate
OCC supervisory office.
§ 7.3001
■
[Removed]
3. Remove § 7.3001.
Brian P. Brooks,
Acting Comptroller of the Currency.
Editorial Note: This document was
received at the Office of the Federal Register
on December 31, 2020.
[FR Doc. 2020–29277 Filed 2–2–21; 8:45 am]
BILLING CODE 4810–33–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–119890–18]
RIN 1545–BP92
Section 42, Low-Income Housing
Credit Average Income Test
Regulations; Hearing
Internal Revenue Service (IRS),
Treasury.
ACTION: Proposed rule; notice of hearing.
AGENCY:
This document provides a
notice of public hearing on proposed
regulations setting forth guidance on the
average income test for purposes of the
low-income housing credit.
DATES: The public hearing is being held
on Wednesday, March 24, 2021 at 12
p.m. The IRS must receive speakers’
outlines of the topics to be discussed at
the public hearing by Friday, March 5,
2021. If no outlines are received by
March 5, 2021, the public hearing will
be cancelled.
ADDRESSES: The public hearing is being
held by teleconference. Individuals who
want to testify (by telephone) at the
public hearing must send an email to
publichearings@irs.gov to receive the
telephone number and access code for
the hearing. The subject line of the
email must contain the regulation
number [REG–119890–18] and the word
TESTIFY. For example, the subject line
may say: Request to TESTIFY at Hearing
for REG–119890–18. The email must
include the name(s) of the speaker(s)
and title(s). Send outline submissions
electronically via the Federal
eRulemaking Portal at
www.regulations.gov (IRS REG–119890–
18). The email must be received by
March 5, 2021.
SUMMARY:
E:\FR\FM\03FEP1.SGM
03FEP1
Federal Register / Vol. 86, No. 21 / Wednesday, February 3, 2021 / Proposed Rules
FOR FURTHER INFORMATION CONTACT:
Concerning these proposed regulations,
Dillon Taylor or Michael J. Torruella
Costa at (202) 317–4137; concerning
submissions of comments, the hearing,
and the access code to attend the
hearing by teleconferencing, Regina
Johnson at (202) 317–5177 (not toll-free
numbers) or publichearings@irs.gov. If
emailing please put Attend, Testify, or
Agenda Request and [REG–119890–18]
in the email subject line.
The
subject of the public hearing is the
notice of proposed rulemaking REG–
119890–18 that was published in the
Federal Register on Friday, October 30,
2020, 85 FR 68816.
The rules of 26 CFR 601.601(a)(3)
apply to the hearing. Persons who wish
to present oral comments telephonically
at the hearing that previously submitted
written comments by December 29,
2020, must submit an outline on the
topics to be addressed and the amount
of time to be devoted to each topic by
March 5, 2021.
A period of 10 minutes is allotted to
each person for presenting oral
comments. After the deadline for
receiving outlines has passed, the IRS
will prepare an agenda containing the
schedule of speakers. Copies of the
agenda will be made available by
emailing your request to
publichearings@irs.gov. Please put
‘‘REG–119890–18 Agenda Request’’ in
the subject line of the email.
Individuals who want to attend (by
telephone) the public hearing must also
send an email to publichearings@irs.gov
to receive the telephone number and
access code for the hearing. The subject
line of the email must contain the
regulation number [REG–119890–18]
and the word ATTEND. For example,
the subject line may say: Request to
ATTEND Hearing for REG–119890–18.
The email requesting to attend the
public hearing must be received by 5:00
p.m. two (2) business days before the
date that the hearing is scheduled.
The telephonic hearing will be made
accessible to people with disabilities. To
request special assistance during the
telephonic hearing please contact the
Publications and Regulations Branch of
the Office of Associate Chief Counsel
(Procedure and Administration) by
sending an email to publichearings@
irs.gov (preferred) or by telephone at
(202) 317–5177 (not a toll-free number)
at least three (3) days prior to the date
that the telephonic hearing is
scheduled.
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SUPPLEMENTARY INFORMATION:
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15:58 Feb 02, 2021
Jkt 253001
Any questions regarding speaking at
or attending a public hearing may also
be emailed to publichearings@irs.gov.
Crystal Pemberton,
Senior Federal Register Liaison, Publications
and Regulations Branch, Legal Processing
Division, Associate Chief Counsel, (Procedure
and Administration).
[FR Doc. 2021–02146 Filed 2–2–21; 8:45 am]
BILLING CODE 4830–01–P
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG–115057–20]
RIN 1545–BP98
Mandatory 60-Day Postponement of
Certain Tax-Related Deadlines by
Reason of a Federally Declared
Disaster; Hearing
Internal Revenue Service (IRS),
Treasury.
ACTION: Proposed rule; notice of hearing.
AGENCY:
This document provides a
notice of public hearing on proposed
regulations relating to the new
mandatory 60-day postponement of
certain time-sensitive tax-related
deadlines by reason of a Federally
declared disaster.
DATES: The public hearing is being held
on Tuesday, March 23, 2021 at 10:00
a.m. The IRS must receive speakers’
outlines of the topics to be discussed at
the public hearing by Monday, March
15, 2021. If no outlines are received by
March 15, 2021, the public hearing will
be cancelled.
ADDRESSES: The public hearing is being
held by teleconference. Individuals who
want to testify (by telephone) at the
public hearing must send an email to
publichearings@irs.gov to receive the
telephone number and access code for
the hearing. The subject line of the
email must contain the regulation
number [REG–115057–20] and the word
TESTIFY. For example, the subject line
may say: Request to TESTIFY at Hearing
for REG–115057–20. The email must
include the name(s) of the speaker(s)
and title(s). Send outline submissions
electronically via the Federal
eRulemaking Portal at
www.regulations.gov (IRS REG–115057–
20). The email must be received by
March 15, 2021.
FOR FURTHER INFORMATION CONTACT:
Concerning the proposed regulations,
William V. Spatz at (202) 317–5461;
concerning submissions of comments,
SUMMARY:
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7987
the hearing, and the access code to
attend the hearing by teleconferencing,
Regina Johnson at (202) 317–5177 (not
toll-free numbers) or publichearings@
irs.gov. If emailing please put Attend,
Testify, or Agenda Request and [REG–
115057–20] in the email subject line.
The
subject of the public hearing is the
notice of proposed rulemaking REG–
115057–20 that was published in the
Federal Register on Wednesday,
January 13, 2021, 86 FR 2607.
The rules of 26 CFR 601.601(a)(3)
apply to the hearing. Persons who wish
to present oral comments telephonically
at the hearing that previously submitted
written comments by March 15, 2021,
must submit an outline on the topics to
be addressed and the amount of time to
be devoted to each topic by March 15,
2021.
A period of 10 minutes is allotted to
each person for presenting oral
comments. After the deadline for
receiving outlines has passed, the IRS
will prepare an agenda containing the
schedule of speakers. Copies of the
agenda will be made available by
emailing your request to
publichearings@irs.gov. Please put
‘‘REG–115057–20’’ Agenda Request’’ in
the subject line of the email.
Individuals who want to attend (by
telephone) the public hearing must also
send an email to publichearings@irs.gov
to receive the telephone number and
access code for the hearing. The subject
line of the email must contain the
regulation number [REG–115057–20]
and the word ATTEND. For example,
the subject line may say: Request to
ATTEND Hearing for REG–115057–20.
The email requesting to attend the
public hearing must be received by 5:00
p.m. two (2) business days before the
date that the hearing is scheduled.
The telephonic hearing will be made
accessible to people with disabilities. To
request special assistance during the
telephonic hearing please contact the
Publications and Regulations Branch of
the Office of Associate Chief Counsel
(Procedure and Administration) by
sending an email to publichearings@
irs.gov (preferred) or by telephone at
(202) 317–5177 (not a toll-free number)
at least three (3) days prior to the date
that the telephonic hearing is
scheduled.
SUPPLEMENTARY INFORMATION:
E:\FR\FM\03FEP1.SGM
03FEP1
Agencies
[Federal Register Volume 86, Number 21 (Wednesday, February 3, 2021)]
[Proposed Rules]
[Pages 7986-7987]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-02146]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Internal Revenue Service
26 CFR Part 1
[REG-119890-18]
RIN 1545-BP92
Section 42, Low-Income Housing Credit Average Income Test
Regulations; Hearing
AGENCY: Internal Revenue Service (IRS), Treasury.
ACTION: Proposed rule; notice of hearing.
-----------------------------------------------------------------------
SUMMARY: This document provides a notice of public hearing on proposed
regulations setting forth guidance on the average income test for
purposes of the low-income housing credit.
DATES: The public hearing is being held on Wednesday, March 24, 2021 at
12 p.m. The IRS must receive speakers' outlines of the topics to be
discussed at the public hearing by Friday, March 5, 2021. If no
outlines are received by March 5, 2021, the public hearing will be
cancelled.
ADDRESSES: The public hearing is being held by teleconference.
Individuals who want to testify (by telephone) at the public hearing
must send an email to [email protected] to receive the telephone
number and access code for the hearing. The subject line of the email
must contain the regulation number [REG-119890-18] and the word
TESTIFY. For example, the subject line may say: Request to TESTIFY at
Hearing for REG-119890-18. The email must include the name(s) of the
speaker(s) and title(s). Send outline submissions electronically via
the Federal eRulemaking Portal at www.regulations.gov (IRS REG-119890-
18). The email must be received by March 5, 2021.
[[Page 7987]]
FOR FURTHER INFORMATION CONTACT: Concerning these proposed regulations,
Dillon Taylor or Michael J. Torruella Costa at (202) 317-4137;
concerning submissions of comments, the hearing, and the access code to
attend the hearing by teleconferencing, Regina Johnson at (202) 317-
5177 (not toll-free numbers) or [email protected]. If emailing
please put Attend, Testify, or Agenda Request and [REG-119890-18] in
the email subject line.
SUPPLEMENTARY INFORMATION: The subject of the public hearing is the
notice of proposed rulemaking REG-119890-18 that was published in the
Federal Register on Friday, October 30, 2020, 85 FR 68816.
The rules of 26 CFR 601.601(a)(3) apply to the hearing. Persons who
wish to present oral comments telephonically at the hearing that
previously submitted written comments by December 29, 2020, must submit
an outline on the topics to be addressed and the amount of time to be
devoted to each topic by March 5, 2021.
A period of 10 minutes is allotted to each person for presenting
oral comments. After the deadline for receiving outlines has passed,
the IRS will prepare an agenda containing the schedule of speakers.
Copies of the agenda will be made available by emailing your request to
[email protected]. Please put ``REG-119890-18 Agenda Request'' in
the subject line of the email.
Individuals who want to attend (by telephone) the public hearing
must also send an email to [email protected] to receive the
telephone number and access code for the hearing. The subject line of
the email must contain the regulation number [REG-119890-18] and the
word ATTEND. For example, the subject line may say: Request to ATTEND
Hearing for REG-119890-18. The email requesting to attend the public
hearing must be received by 5:00 p.m. two (2) business days before the
date that the hearing is scheduled.
The telephonic hearing will be made accessible to people with
disabilities. To request special assistance during the telephonic
hearing please contact the Publications and Regulations Branch of the
Office of Associate Chief Counsel (Procedure and Administration) by
sending an email to [email protected] (preferred) or by telephone
at (202) 317-5177 (not a toll-free number) at least three (3) days
prior to the date that the telephonic hearing is scheduled.
Any questions regarding speaking at or attending a public hearing
may also be emailed to [email protected].
Crystal Pemberton,
Senior Federal Register Liaison, Publications and Regulations Branch,
Legal Processing Division, Associate Chief Counsel, (Procedure and
Administration).
[FR Doc. 2021-02146 Filed 2-2-21; 8:45 am]
BILLING CODE 4830-01-P