[Federal Register Volume 66, Number 17 (Thursday, January 25, 2001)]
[Notices]
[Pages 7741-7742]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 01-2319]


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DEPARTMENT OF COMMERCE

National Oceanic and Atmospheric Administration

[I.D. 012201B]


Fishing Vessel Capital Construction Fund Agreement, Application, 
and Certificate of Construction/Reconstruction

AGENCY: National Oceanic and Atmospheric Administration (NOAA)

ACTION: Proposed information collection; comment request.

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SUMMARY: The Department of Commerce, 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, Pub. L. 104-13 (44 U.S.C. 
3506(c)(2)(A)).

DATES: Written comments must be submitted on or before March 26, 2001.

ADDRESSES: Direct all written comments to Madeleine Clayton, 
Departmental Forms Clearance Officer, Department of Commerce, Room 
6086, 14th and Constitution Avenue NW., Washington DC 20230 (or via 
Internet at [email protected]).

FOR FURTHER INFORMATION CONTACT: Requests for additional information or 
copies of the information collection instrument(s) and instructions 
should be directed to Charles L. Cooper, Financial Services Division, 
Office of Sustainable Fisheries, National Marine Fisheries Service, 
1315 East-West Highway, Silver Spring, MD 20910, phone 301-713-2396.

SUPPLEMENTARY INFORMATION:

I. Abstract

    Respondents will be commercial fishing industry individuals, 
partnerships, and corporations that want to enter into Capital 
Construction Fund agreements with the Secretary of Commerce. Such 
agreements allow deferral of Federal taxation on fishing vessel income 
deposited into a fund for the respondent for use in the acquisition, 
construction, or reconstruction of a fishing vessel. Deferred taxes are 
recaptured by reducing an agreement vessel's basis for depreciation by 
the amount withdrawn from the fund for its acquisition, construction, 
or reconstruction. The information collected from agreement holders is 
used to determine their eligibility to participate in the Capital 
Construction Fund Program pursuant to

[[Page 7742]]

50 CFR part 259. At the completion of the construction/reconstruction, 
a certificate to that effect must be submitted.

II. Method of Collection

    The information will be collected on forms: the Fishing Vessel 
Capital Construction Fund Application, the Interim Capital Construction 
Fund Agreement, and the Certificate of Construction/Reconstruction.

III. Data

    OMB Number: 0648-0090.
    Form Number: NOAA Form 88-14.
    Type of Review: Regular submission.
    Affected Public: Business and other for-profit organizations.
    Estimated Number of Respondents: 1,000.
    Estimated Time Per Response: 3.5 hours for an agreement, 1 hour for 
a certificate.
    Estimated Total Annual Burden Hours: 2,250.
    Estimated Total Annual Cost to Public: $1,000.

IV. Request for Comments

    Comments are invited on: (a) Whether the proposed 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 
(including hours and cost) of the proposed collection of information; 
(c) ways to enhance the quality, utility, and clarity of the 
information to be collected; and (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.
    Comments submitted in response to this notice will be summarized 
and/or included in the request for OMB approval of this information 
collection; they also will become a matter of public record.

    Dated: January 19, 2001.
Gwellnar Banks,
Management Analyst, Office of the Chief Information Officer.
[FR Doc. 01-2319 Filed 1-24-01; 8:45 am]
BILLING CODE 3510-22-S