[Federal Register Volume 63, Number 113 (Friday, June 12, 1998)]
[Notices]
[Pages 32284-32285]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 98-15731]


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DEPARTMENT OF THE TREASURY


Submission to OMB for Review; Comment Request

June 1, 1998.
    The Department of Treasury has submitted the following public 
information collection requirement(s) to OMB for review and clearance 
under the Paperwork Reduction Act of 1995, Pub. L. 104-13. Copies of 
the submission(s) may be obtained by calling the Treasury Bureau 
Clearance Officer listed. Comments regarding this information 
collection should be addressed to the OMB reviewer listed and to the 
Treasury Department Clearance Officer, Department of the Treasury, Room 
2110, 1425 New York Avenue, NW., Washington, DC 20220.

DATES: Written comments should be received on or before July 13, 1998 
to be assured of consideration.

Internal Revenue Service (IRS)

    OMB Number: New.
    Form Number: IRS Form 8860.
    Type of Review: Extension.
    Title: Qualified Zone Academy Bond Credit.
    Description: A qualified zone academy bond is a taxable bond issued 
after 1997 by a state or local government, with the proceeds used to 
improve certain eligible public schools.

[[Page 32285]]

In lieu of receiving interest payments from the issuer, an eligible 
holder of the bond is generally allowed an annual income tax credit. 
Eligible holders of qualified zone academy bonds use Form 8860 to 
figure and claim this credit.
    Respondents: Business or other for-profit, State, Local or Tribal 
Government.
    Estimated Number of Respondents/Recordkeepers: 1,000.
    Estimated Burden Hours Per Respondent/Recordkeeper:

Recordkeeping--4 hr., 47 min.
Learning about the law or the form--12 min.
Preparing and sending the form to the IRS--17 min.

    Frequency of Response: Annually.
    Estimated Total Reporting/Recordkeeping Burden: 5,260 hours.
    Clearance Officer: Garrick Shear (202) 622-3869, Internal Revenue 
Service, Room 5571, 1111 Constitution Avenue, NW, Washington, DC 20224.
    OMB Reviewer: Alexander T. Hunt (202) 395-7860, Office of 
Management and Budget, Room 10226, New Executive Office Building, 
Washington, DC 20503.
Lois K. Holland,
Departmental Reports Management Officer.
[FR Doc. 98-15731 Filed 6-11-98; 8:45 am]
BILLING CODE 4830-01-P