[Federal Register Volume 61, Number 71 (Thursday, April 11, 1996)]
[Rules and Regulations]
[Pages 16045-16046]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 96-8975]



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DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT

24 CFR Part 811

[Docket No. FR-3985-C-02]
RIN 2502-AG64


Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner: Regulatory Reinvention; Tax Exemption of Obligations of 
Public Housing Agencies and Related Amendments; Final Rule; Correction

AGENCY: Office of the Assistant Secretary for Housing-Federal Housing 
Commissioner, HUD.

ACTION: Final rule; correction.

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SUMMARY: On April 1, 1996 (61 FR 14456), HUD published a final rule 
streamlining its regulations governing the tax exemption of obligations 
of public housing agencies. The preamble to the April 1, 1996 final 
rule stated that HUD was removing subpart B of 24 CFR part 811. 
However, the rule's regulatory text did not contain an amendatory 
instruction removing this subpart. The purpose of this document is to 
correct the April 1, 1996 final rule by removing 24 CFR part 811, 
subpart B.

FOR FURTHER INFORMATION CONTACT: James Mitchell, Director, Financial 
Services Division, Department of Housing and Urban Development, 470 
L'Enfant Plaza East, room 3120, Washington, DC 20024, telephone number 
(202) 708-7450, ext. 125 (this is not a toll-free number). For hearing- 
and speech-impaired persons, this number may be accessed via TTY by 
calling the Federal Information Relay Service at 1-800-877-8339.

SUPPLEMENTARY INFORMATION: On March 4, 1995, President Clinton issued a 
memorandum to all Federal departments and agencies regarding regulatory 
reinvention. In response to this memorandum, HUD conducted a page-by-
page review of its regulations to determine which could be eliminated, 
consolidated, or otherwise improved. As part of this review, HUD 
examined its regulations at 24 CFR part 811, which govern the tax 
exemption of obligations of public housing agencies. HUD determined 
that 24 CFR part 811 could be improved and streamlined by eliminating 
unnecessary provisions.
    On April 1, 1996 (61 FR 14456), HUD published a final rule which 
streamlined part 811 by eliminating provisions that were redundant of 
statutes or otherwise unnecessary. The program described in subpart B 
of part 811, concerning the purchase of GNMA

[[Page 16046]]
guaranteed mortgage-backed securities with tax exempt obligations, had 
never been implemented by HUD. Accordingly, the preamble to the April 
1, 1996 final rule stated that HUD was removing this subpart. However, 
the regulatory text of the final rule did not contain an amendatory 
instruction removing 24 CFR part 811, subpart B. This document makes 
the necessary correction.
    Accordingly, FR-Doc. 7949, a final rule published in the Federal 
Register on April 1, 1996 (61 FR 14456) is corrected by adding an 
amendatory instruction number 13 to the end of the document on page 
14463 to remove subpart B of 24 CFR part 811, to read as follows:

Subpart B--[Removed]

    13. Subpart B, consisting of Secs. 811.201 through 811.211, is 
removed.

    Dated: April 5, 1996.
Camille E. Acevedo,
Assistant General Counsel for Regulations.
[FR Doc. 96-8975 Filed 4-10-96; 8:45 am]
BILLING CODE 4210-27-P