Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2021, 22300-22301 [2021-08686]

Download as PDF 22300 Federal Register / Vol. 86, No. 79 / Tuesday, April 27, 2021 / Notices jbell on DSKJLSW7X2PROD with NOTICES the fee in a single payment is not available. • Lump sum payment of fee with no refund (short and long form)—A bank must disclose that the customer has the option to choose a contract with or without a refund provision. This disclosure must also state that the prices of refund and no-refund products are likely to differ. • Refund of fee paid in lump sum (short and long form)—If a bank permits a customer to pay the fee in a single payment and add the fee to the amount borrowed, the bank must disclose its cancellation policy. The disclosure informs the customer of the bank’s refund policy, as applicable, i.e., that the DCC or DSA may be: (i) Cancelled at any time for a refund; (ii) cancelled within a specified number of days for a full refund; or (iii) cancelled at any time with no refund. • Whether use of a card or credit line is restricted (long form)—A bank must inform a customer if the customer’s activation of the contract would prohibit the customer from incurring additional charges on the credit card or using the credit line. • Termination of a DCC or DSA (long form)—If termination is permitted during the life of the loan, a bank must include an explanation of the circumstances under which a customer or the bank may terminate the contract. • Additional disclosures (short form)—A bank must inform customers that it will provide additional information before the customer is required to pay for the product. • Eligibility requirements, conditions, and exclusions (short and long form)— A bank must describe any material limitations relating to the DCC or DSA. Section 37.7 Section 37.7 requires a bank to obtain a customer’s written affirmative election to purchase a contract and written acknowledgment of receipt of the disclosures required by § 37.6. The section further provides that the election and acknowledgment must be conspicuous, simple, direct, readily understandable, and designed to call attention to their significance. Pursuant to § 37.7(b), if the sale of the contract occurs by telephone, the customer’s affirmative election to purchase and acknowledgment of receipt of the required short form may be made orally, provided the bank: (i) Maintains sufficient documentation to show that the customer received the short form disclosures and then affirmatively elected to purchase the contract; (ii) mails the affirmative written election and written acknowledgment, together VerDate Sep<11>2014 18:52 Apr 26, 2021 Jkt 253001 with the long form disclosures required by § 37.6, to the customer within 3 business days after the telephone solicitation and maintains sufficient documentation to show it made reasonable efforts to obtain the documents from the customer; and (iii) permits the customer to cancel the purchase of the contract without penalty within 30 days after the bank has mailed the long form disclosures to the customer. Pursuant to § 37.7(c), if the DCC or DSA is solicited through written materials such as mail inserts or ‘‘take one’’ applications and the bank provides only the short form disclosures in the written materials, then the bank shall mail the acknowledgment, together with the long form disclosures, to the customer. The bank may not obligate the customer to pay for the contract until after the bank has received the customer’s written acknowledgment of receipt of disclosures, unless the bank takes certain steps, maintains certain documentation, and permits the customer to cancel the purchase within 30 days after mailing the long form disclosures to the customer. Section 37.7(d) permits the customer’s affirmative election and acknowledgment to be made electronically. Type of Review: Regular. Affected Public: Businesses or other for-profit. Number of Respondents: 1,098. Total Annual Burden Hours: 26,352 hours. The OCC published a notice for 60 days of comment concerning this collection, 86 FR 9994. No comments were received. Comments continue to be invited on: (a) Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information shall have practical utility; (b) The accuracy of the OCC’s estimate of the burden of the collection of information; (c) Ways to enhance the quality, utility, and clarity of the information to be collected; (d) Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and (e) Estimates of capital or start-up costs and costs of operation, PO 00000 Frm 00171 Fmt 4703 Sfmt 4703 maintenance, and purchase of services to provide information. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2021–08679 Filed 4–26–21; 8:45 am] BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY Internal Revenue Service Credit for Renewable Electricity Production, Refined Coal Production, and Indian Coal Production, and Publication of Inflation Adjustment Factors and Reference Prices for Calendar Year 2021 Internal Revenue Service (IRS), Treasury. ACTION: Notice of publication. AGENCY: The 2021 inflation adjustment factors and reference prices are used in determining the availability of the credit for renewable electricity production, refined coal production, and Indian coal production under section 45. FOR FURTHER INFORMATION CONTACT: Charles Hyde, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, (202) 317–6853 (not a toll-free number). SUPPLEMENTARY INFORMATION: The 2021 inflation adjustment factors and reference prices apply to calendar year 2021 sales of kilowatt hours of electricity produced in the United States or a possession thereof from qualified energy resources, and to 2021 sales of refined coal and Indian coal produced in the United States or a possession thereof. Inflation Adjustment Factors: The inflation adjustment factor for calendar year 2021 for qualified energy resources and refined coal is 1.6878. The inflation adjustment factor for calendar year 2021 for Indian coal is 1.2998. Reference Prices: The reference price for calendar year 2021 for facilities producing electricity from wind is 3.59 cents per kilowatt hour. The reference prices for fuel used as feedstock within the meaning of section 45(c)(7)(A) (relating to refined coal production) are $31.90 per ton for calendar year 2002 and $45.64 per ton for calendar year 2021. The reference prices for facilities producing electricity from closed-loop biomass, open-loop biomass, geothermal energy, municipal solid waste, qualified hydropower production, and marine and hydrokinetic renewable energy have not been determined for calendar year 2021. SUMMARY: E:\FR\FM\27APN1.SGM 27APN1 jbell on DSKJLSW7X2PROD with NOTICES Federal Register / Vol. 86, No. 79 / Tuesday, April 27, 2021 / Notices Phaseout Calculation: Because the 2021 reference price for electricity produced from wind (3.59 cents per kilowatt hour) does not exceed 8 cents multiplied by the inflation adjustment factor (1.6878), the phaseout of the credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2021. Because the 2021 reference price of fuel used as feedstock for refined coal ($45.64) does not exceed $91.53 (which is the $31.90 reference price of such fuel in 2002 multiplied by the inflation adjustment factor (1.6878) and 1.7), the phaseout of the credit provided in section 45(e)(8)(B) does not apply to refined coal sold during calendar year 2021. Further, for electricity produced from closed-loop biomass, open-loop biomass, geothermal energy, municipal solid waste, qualified hydropower production, and marine and hydrokinetic renewable energy, the phaseout of the credit provided in section 45(b)(1) does not apply to such electricity sold during calendar year 2021. Credit Amount by Qualified Energy Resource and Facility, Refined Coal, and Indian Coal: As required by section 45(b)(2), the 1.5 cent amount in section 45(a)(1) and the $4.375 amount in section 45(e)(8)(A) are each adjusted by multiplying such amount by the inflation adjustment factor for the calendar year in which the sale occurs. If any amount as increased under the preceding sentence is not a multiple of 0.1 cent, such amount is rounded to the nearest multiple of 0.1 cent. In the case of electricity produced in open-loop biomass facilities, landfill gas facilities, trash facilities, qualified hydropower facilities, and marine and hydrokinetic renewable energy facilities, section 45(b)(4)(A) requires the amount in effect under section 45(a)(1) (before rounding to the nearest 0.1 cent) to be reduced by one-half. Under the calculation required by section 45(b)(2), the credit for renewable electricity production for calendar year 2021 under section 45(a) is 2.5 cents per kilowatt hour on the sale of electricity produced from the qualified energy resources of wind, closed-loop biomass, and geothermal energy, and 1.3 cents per kilowatt hour on the sale of electricity produced in open-loop biomass facilities, landfill gas facilities, trash facilities, qualified hydropower facilities, and marine and hydrokinetic renewable energy facilities. Under the calculation required by section 45(b)(2), the credit for refined coal production for calendar year 2021 under section 45(e)(8)(A) is $7.384 per ton on the sale of qualified refined coal. As required by section 45(e)(10)(B)(ii), VerDate Sep<11>2014 18:52 Apr 26, 2021 Jkt 253001 the $2.00 amount in section 45(e)(10)(B)(i) is adjusted by multiplying such amount by the inflation adjustment factor for the calendar year. Under the calculation required by section 45(e)(10)(B)(ii), the credit for Indian coal production for calendar year 2021 under section 45(e)(10)(B) is $2.600 per ton on the sale of Indian coal. 22301 Reference Price: The reference price under section 45K(d)(2)(C) for calendar year 2020 is $37.07. Christopher T. Kelley, Special Counsel, (Passthroughs and Special Industries). [FR Doc. 2021–08684 Filed 4–26–21; 8:45 am] BILLING CODE 4830–01–P (Authority: 45(e)(2)(A) (26 U.S.C. 45(e)(2)(A)), 45(e)(8)(C) (26 U.S.C. 45(e)(8)(C)), and 45(e)(10)(B) (26 U.S.C. 45(e)(10)(B)) of the Internal Revenue Code.) DEPARTMENT OF VETERANS AFFAIRS Christopher T. Kelley, Special Counsel to the Associate Chief Counsel, (Passthroughs and Special Industries). Agency Information Collection Activity under OMB Review: Application in Acquiring Specially Adapted Housing or Special Home Adaptation Grant [FR Doc. 2021–08686 Filed 4–26–21; 8:45 am] DEPARTMENT OF THE TREASURY Publication of Nonconventional Source Production Credit Reference Price for Calendar Year 2020 Internal Revenue Service (IRS), Treasury. AGENCY: Notice. Publication of the reference price for the nonconventional source production credit for calendar year 2020. SUMMARY: FOR FURTHER INFORMATION CONTACT: Christopher Price, CC:PSI:6, Internal Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, Telephone Number (202) 317–6853 (not a toll-free number). The credit period for the nonconventional source production credit ended on December 31, 2013 for facilities producing coke or coke gas (other than from petroleum based products). However, the reference price continues to apply in determining the amount of the enhanced oil recovery credit under section 43 of title 26 of the U.S.C., the marginal well production credit under section 45I of title 26 of the U.S.C., and the applicable percentage under section 613A of title 26 of the U.S.C. to be used in determining percentage depletion in the case of oil and natural gas produced from marginal properties. The reference price under section 45K(d)(2)(C) of title 26 of the U.S.C. for calendar year 2020 applies for purposes of sections 43, 45I, and 613A for taxable year 2021. SUPPLEMENTARY INFORMATION: Frm 00172 Fmt 4703 Sfmt 4703 In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Veterans Benefits Administration, Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden and it includes the actual data collection instrument. DATES: Written comments and recommendations for the proposed information collection should be sent within 30 days of publication of this notice to www.reginfo.gov/public/do/ PRAMain. Find this particular information collection by selecting ‘‘Currently under 30-day Review—Open for Public Comments’’ or by using the search function. Refer to ‘‘OMB Control No. 2900–0132.’’ FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise and Integration, Data Governance Analytics (008), 1717 H Street NW, Washington, DC 20006, (202) 266–4688 or email maribel.aponte@va.gov. Please refer to ‘‘OMB Control No. 2900–0132’’ in any correspondence. SUPPLEMENTARY INFORMATION: Authority: 44 U.S.C. 3501–21. Title 38, U.S.C., chapter 21. Title: Application in Acquiring Specially Adapted Housing or Special Home Adaptation Grant (VA Form 26– 4555). OMB Control Number: 2900–0132. Type of Review: Extension of a currently approved collection. Abstract: VA Forms 26–4555 is used to gather the necessary information to SUMMARY: Internal Revenue Service PO 00000 Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: BILLING CODE 4830–01–P ACTION: [OMB Control No. 2900–0132] E:\FR\FM\27APN1.SGM 27APN1

Agencies

[Federal Register Volume 86, Number 79 (Tuesday, April 27, 2021)]
[Notices]
[Pages 22300-22301]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-08686]


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DEPARTMENT OF THE TREASURY

Internal Revenue Service


Credit for Renewable Electricity Production, Refined Coal 
Production, and Indian Coal Production, and Publication of Inflation 
Adjustment Factors and Reference Prices for Calendar Year 2021

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice of publication.

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

SUMMARY: The 2021 inflation adjustment factors and reference prices are 
used in determining the availability of the credit for renewable 
electricity production, refined coal production, and Indian coal 
production under section 45.

FOR FURTHER INFORMATION CONTACT: Charles Hyde, CC:PSI:6, Internal 
Revenue Service, 1111 Constitution Avenue NW, Washington, DC 20224, 
(202) 317-6853 (not a toll-free number).

SUPPLEMENTARY INFORMATION: The 2021 inflation adjustment factors and 
reference prices apply to calendar year 2021 sales of kilowatt hours of 
electricity produced in the United States or a possession thereof from 
qualified energy resources, and to 2021 sales of refined coal and 
Indian coal produced in the United States or a possession thereof.
    Inflation Adjustment Factors: The inflation adjustment factor for 
calendar year 2021 for qualified energy resources and refined coal is 
1.6878. The inflation adjustment factor for calendar year 2021 for 
Indian coal is 1.2998.
    Reference Prices: The reference price for calendar year 2021 for 
facilities producing electricity from wind is 3.59 cents per kilowatt 
hour. The reference prices for fuel used as feedstock within the 
meaning of section 45(c)(7)(A) (relating to refined coal production) 
are $31.90 per ton for calendar year 2002 and $45.64 per ton for 
calendar year 2021. The reference prices for facilities producing 
electricity from closed-loop biomass, open-loop biomass, geothermal 
energy, municipal solid waste, qualified hydropower production, and 
marine and hydrokinetic renewable energy have not been determined for 
calendar year 2021.

[[Page 22301]]

    Phaseout Calculation: Because the 2021 reference price for 
electricity produced from wind (3.59 cents per kilowatt hour) does not 
exceed 8 cents multiplied by the inflation adjustment factor (1.6878), 
the phaseout of the credit provided in section 45(b)(1) does not apply 
to such electricity sold during calendar year 2021. Because the 2021 
reference price of fuel used as feedstock for refined coal ($45.64) 
does not exceed $91.53 (which is the $31.90 reference price of such 
fuel in 2002 multiplied by the inflation adjustment factor (1.6878) and 
1.7), the phaseout of the credit provided in section 45(e)(8)(B) does 
not apply to refined coal sold during calendar year 2021. Further, for 
electricity produced from closed-loop biomass, open-loop biomass, 
geothermal energy, municipal solid waste, qualified hydropower 
production, and marine and hydrokinetic renewable energy, the phaseout 
of the credit provided in section 45(b)(1) does not apply to such 
electricity sold during calendar year 2021.
    Credit Amount by Qualified Energy Resource and Facility, Refined 
Coal, and Indian Coal: As required by section 45(b)(2), the 1.5 cent 
amount in section 45(a)(1) and the $4.375 amount in section 45(e)(8)(A) 
are each adjusted by multiplying such amount by the inflation 
adjustment factor for the calendar year in which the sale occurs. If 
any amount as increased under the preceding sentence is not a multiple 
of 0.1 cent, such amount is rounded to the nearest multiple of 0.1 
cent. In the case of electricity produced in open-loop biomass 
facilities, landfill gas facilities, trash facilities, qualified 
hydropower facilities, and marine and hydrokinetic renewable energy 
facilities, section 45(b)(4)(A) requires the amount in effect under 
section 45(a)(1) (before rounding to the nearest 0.1 cent) to be 
reduced by one-half. Under the calculation required by section 
45(b)(2), the credit for renewable electricity production for calendar 
year 2021 under section 45(a) is 2.5 cents per kilowatt hour on the 
sale of electricity produced from the qualified energy resources of 
wind, closed-loop biomass, and geothermal energy, and 1.3 cents per 
kilowatt hour on the sale of electricity produced in open-loop biomass 
facilities, landfill gas facilities, trash facilities, qualified 
hydropower facilities, and marine and hydrokinetic renewable energy 
facilities. Under the calculation required by section 45(b)(2), the 
credit for refined coal production for calendar year 2021 under section 
45(e)(8)(A) is $7.384 per ton on the sale of qualified refined coal. As 
required by section 45(e)(10)(B)(ii), the $2.00 amount in section 
45(e)(10)(B)(i) is adjusted by multiplying such amount by the inflation 
adjustment factor for the calendar year. Under the calculation required 
by section 45(e)(10)(B)(ii), the credit for Indian coal production for 
calendar year 2021 under section 45(e)(10)(B) is $2.600 per ton on the 
sale of Indian coal.

(Authority: 45(e)(2)(A) (26 U.S.C. 45(e)(2)(A)), 45(e)(8)(C) (26 
U.S.C. 45(e)(8)(C)), and 45(e)(10)(B) (26 U.S.C. 45(e)(10)(B)) of 
the Internal Revenue Code.)

Christopher T. Kelley,
Special Counsel to the Associate Chief Counsel, (Passthroughs and 
Special Industries).
[FR Doc. 2021-08686 Filed 4-26-21; 8:45 am]
BILLING CODE 4830-01-P