[Federal Register Volume 62, Number 111 (Tuesday, June 10, 1997)]
[Notices]
[Pages 31667-31668]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 97-15160]


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

DEPARTMENT OF THE TREASURY

Internal Revenue Service
[LR-185-84]


Proposed Collection; Comment Request For Regulation Project

AGENCY: Internal Revenue Service (IRS), Treasury.

ACTION: Notice and request for comments.

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

SUMMARY: The Department of the Treasury, as part of its continuing 
effort to reduce paperwork and respondent burden, invites the general 
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, Public Law 104-13 (44 U.S.C. 
3506(c)(2)(A)). Currently, the IRS is soliciting comments concerning an 
existing final regulation, LR-185-84 (TD 8086), Election of $10 Million 
Limitation on Exempt Small Issues of Industrial Development Bonds; 
Supplemental Capital Expenditure Statements (Sec. 1.103-10(b)(2)(vi)).

DATES: Written comments should be received on or before August 11, 1997 
to be assured of consideration.

ADDRESSES: Direct all written comments to Garrick R. Shear, Internal 
Revenue Service, room 5571, 1111 Constitution Avenue NW., Washington, 
DC 20224.

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection should be directed to Carol 
Savage, (202) 622-3945, Internal Revenue Service, room 5569, 1111 
Constitution Avenue NW., Washington, DC 20224.

SUPPLEMENTARY INFORMATION:

    Title: Election of $10 Million Limitation on Exempt Small Issues of 
Industrial Development Bonds; Supplemental Capital Expenditure 
Statements.
    OMB Number: 1545-0940.
    Regulation Project Number: LR-185-84.
    Abstract: This regulation liberalizes the procedure by which a 
state or local government issuer of an exempt small issue of tax-exempt 
bonds elects the $10 million limitation upon the size of such issue and 
deletes the requirement to file certain supplemental capital 
expenditure statements.
    Current Actions: There is no change to this existing regulation.
    Type of Review: Extension of a currently approved collection.
    Affected Public: State, local or tribal governments.
    Estimated Number of Respondents: 10,000.
    Estimated Time Per Respondent: 6 minutes.
    Estimated Total Annual Burden Hours: 1,000.
    The following paragraph applies to all of 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 as long as 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.

Request for Comments

    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval. All comments will 
become a matter of public record.
    Comments are invited on: (a) Whether the collection of information 
is necessary for the proper performance of the functions of the agency, 
including whether the information shall have practical utility; (b) the 
accuracy of the agency's estimate of the burden of the

[[Page 31668]]

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 of information 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, maintenance, and purchase of services to 
provide information.

    Approved: June 4, 1997.
Garrick R. Shear,
IRS Reports Clearance Officer.
[FR Doc. 97-15160 Filed 6-9-97; 8:45 am]
BILLING CODE 4830-01-U